TARC

TARC share price & financials

Price
₹126.18
Market cap
₹3.9k Cr
Sector
Realty
Calls analysed
1
Latest concall · Q2 FY25 · call held 12 Nov 2024

TARC Ltd Q2 FY25

Presales H1 FY25 ₹1,322 cr +500%Total Revenue Potential ₹7,500 cr Current Debt ₹1,650 cr Collections ₹750 cr

Presales H1 FY25 ₹1,322 cr (+500% YoY); Total Revenue Potential (3 Projects) ₹7,500 cr; Current Debt ₹1,650 cr. H1 FY25 presales totaled ₹1,322 crores, marking a 6x growth over the previous year.

Read the full call →

What TARC Ltd does

TARC develops luxury and ultra-luxury residential real estate concentrated in New Delhi and Gurugram, monetising a fully owned and paid-for land bank built up over decades. It earns by pre-selling apartments during construction and recognising revenue on handover, backed by in-house project management, sales and design teams plus branded experience centres used to sell units directly to end-users. The company also holds a wider undeveloped land bank that it plans to convert into further luxury launches over the coming years.

Segments

  • Residential real estate development
Land bank (owned & fully paid)
~450 acres across Delhi, North & West Delhi, Gurugram-Manesar and Greater Noida
Ongoing residential developments
3 (TARC Tripundra, TARC Kailasa, TARC Ishva)
Total units across ongoing developments
1,087 units (187 Tripundra + 417 Kailasa + 483 Ishva)
Total developable area of ongoing projects
~3.9 million sq ft (0.5mn Tripundra + 1.7mn Kailasa + 1.7mn Ishva)
Land parcel size of ongoing projects
~18 acres (3 Tripundra + 6 Kailasa + 9 Ishva)
Planned ultra-luxury developments in pipeline
3 in Delhi, on owned land parcels
Headquarters 2nd Floor, C-3, Qutab Institutional Area, Katwaria Sarai, New Delhi - 110016Employees 360 (2025-03-31) Company website

Guidance record · Q2 FY25

what the last two calls moved 8 tracked 0 delivered 0 missed 8 open
  • FY25 Presales open said Q2 FY25 Promised: ₹5,000 crores Q2 FY25: Management reiterated confidence in achieving ₹5,000 crores from existing projects.

All 8 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 185.5%, net profit down 57.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue4 9 12 76 7 +75%38 +322%209 +1642%217 +186%
EBITDA-24 -11 -84 -120 -36 −50%-18 −64%-90 −7%40 +133%
Net profit-67 -29 -105 54 -16 +76%-21 +28%2 +102%23 −57%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −15.7% 1Y

₹120₹140₹160₹180Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹155.93 on 10 Sept 2025 → ₹131.39. High ₹182.57 (7 Jan 2026), low ₹111.59 (30 Mar 2026).

Financials, as filed

Revenue fell 0.9% a year over 3 years, FY23 to FY26. Operating margin narrowed to -80.0%.

Year endingFY23FY24FY25FY26
Revenue₹339 Cr₹111 Cr₹33 Cr₹330 Cr
Operating profit₹130 Cr₹34 Cr₹-134 Cr₹-264 Cr
Operating margin38.3%30.6%-406.1%-80.0%
Interest₹117 Cr₹123 Cr₹106 Cr₹52 Cr
Depreciation₹7 Cr₹7 Cr₹9 Cr₹9 Cr
Net profit₹20 Cr₹-77 Cr₹-232 Cr₹19 Cr
Net margin5.8%-69.4%-703.0%5.8%
Cash from operations₹-81 Cr₹158 Cr₹43 Cr₹191 Cr
Free cash flow₹-12 Cr₹117 Cr₹6 Cr₹159 Cr
ROCE6.0%-1.0%-5.0%2.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹59 Cr₹59 Cr₹59 Cr₹59 Cr₹59 Cr₹59 Cr
Reserves₹1.5k Cr₹1.3k Cr₹1.3k Cr₹1.2k Cr₹1.0k Cr₹1.0k Cr
Borrowings₹1.3k Cr₹1.2k Cr₹1.4k Cr₹1.4k Cr₹2.0k Cr₹1.9k Cr
Other liabilities₹521 Cr₹468 Cr₹428 Cr₹796 Cr₹1.5k Cr₹1.6k Cr
Total liabilities₹3.4k Cr₹3.0k Cr₹3.2k Cr₹3.5k Cr₹4.5k Cr₹4.6k Cr
Fixed assets₹1.7k Cr₹1.1k Cr₹1.1k Cr₹1.1k Cr₹1.3k Cr₹1.3k Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹138 Cr₹68 Cr₹68 Cr₹68 Cr₹58 Cr₹0 Cr
Other assets₹1.6k Cr₹1.9k Cr₹2.0k Cr₹2.3k Cr₹3.2k Cr₹3.3k Cr
Total assets₹3.4k Cr₹3.0k Cr₹3.2k Cr₹3.5k Cr₹4.5k Cr₹4.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −1.31 pp while DIIs added +1.00 pp. The shareholder count shrank 11% to 53,065.

Promoters
65.1%
FIIs
1.0%
DIIs
6.4%
Public
27.5%

Since Jun 2025

  • FIIs −1.31 pp
  • DIIs +1.00 pp
  • Public +0.32 pp

How it drifted, 12 quarters

Over this window DIIs went from 0.4% to 6.4% — +6.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 65.0%, FIIs 1.9%, DIIs 0.4%, Public 32.8%.Dec '23: Promoters 65.0%, FIIs 1.9%, DIIs 0.9%, Public 32.2%.Mar '24: Promoters 65.0%, FIIs 2.4%, DIIs 1.3%, Public 31.4%.Jun '24: Promoters 65.0%, FIIs 2.9%, DIIs 1.9%, Public 30.2%.Sep '24: Promoters 65.0%, FIIs 2.7%, DIIs 3.3%, Public 29.0%.Dec '24: Promoters 65.0%, FIIs 2.4%, DIIs 4.3%, Public 28.4%.Mar '25: Promoters 65.1%, FIIs 2.5%, DIIs 4.9%, Public 27.5%.Jun '25: Promoters 65.1%, FIIs 2.3%, DIIs 5.4%, Public 27.1%.Sep '25: Promoters 65.1%, FIIs 2.0%, DIIs 5.8%, Public 27.1%.Dec '25: Promoters 65.1%, FIIs 1.2%, DIIs 6.3%, Public 27.4%.Mar '26: Promoters 65.1%, FIIs 0.9%, DIIs 6.4%, Public 27.6%.Jun '26: Promoters 65.1%, FIIs 1.0%, DIIs 6.4%, Public 27.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of TARC Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Anil Sarin 33.48%unchanged
Amar Sarin 31.43%unchanged
Bandhan Small Cap Fund Mutual fund5.25%+0.35 pp
Vijaykumar Chhotabhai Kalidas Patel 1.38%unchanged
Muskaan Sarin 0.21%unchanged
Rajkumari (Huf) 0.00%unchanged
Sharda Sarin 0.00%unchanged
Saloni Munjal 0.00%unchanged
Sunaini Gupta 0.00%unchanged
Anil Sarin (Huf) 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse TARC Ltd

Guides on how to read this kind of business and the numbers that matter.