TARC shares zoom 5% on making sales worth Rs 1,350 cr in Gurugram project

New Delhi based luxury real estate firm, TARC’s share price surged up to 4.98 per cent at Rs 216.95 per share on the BSE after the company announced that it has sold 50 per cent of project TARC Isva amounting to Rs 1,350 crore. 

 

The company launched TARC Ishva in the month of September 2024 and received robust response from its customers, the company said in a statement on Wednesday.

 

TARC Ishva is located along Golf Course Extension Road in sector 63A of Gurugram. It is a 35 million square feet luxury residential development offering four side open residences with expansive views of the Aravali Hills. 

TARC Q2FY25 results

In the recently concluded second quarter earnings season for the financial year 2024-25 (Q2FY25) TARC’s revenue declined by 85.52 per cent compared to the same period last year, reaching Rs 5.02 crore. 

 

On a quarterly basis, the company experienced a 47.87 per cent drop in revenue compared to the previous three months. The company reported a net loss of Rs 67.35 crore for Q2FY25.

TARC share price history

TARC’s stock performance has outperformed the market year to date as it has risen 55 per cent, while gaining 94 per cent in the last one year. In comparison BSE Sensex has risen 10.5 per cent year to date and 21.1 per cent in a year. 

 

The company’s stock has corrected by 21.2 per cent from its 52-week high of Rs 275.50 reached on September 17, 2024, while soaring 101 per cent above its 52-week low of Rs 107.90  touched on January 17, 2024. 

 

The company has a total market capitalisation of Rs 6,270.80 crore.  Its shares are trading at a price to earnings multiple of -400 times and at an earning per share of Rs -0.52. 

 

At 12:05 PM; the shares of the company were trading 2.83 per cent higher at Rs 212.50 a piece. By comparison, the BSE Sensex was down 0.1 per cent at 79,994.75 level.