TARC Ltd
NSE: TARC BSE: 543249Banking
TARC Ltd. (The Anant Raj Corporation) started out as a construction and contracting company and evolved to become one of the largest real estate development companies and land bank holders in the New Delhi Metropolitan Area. The company‘s key developments are across verticals like Residential, Hospitality, Commercial and Retail projects. The name of the company has been changed from Anant Raj Global Ltd. to TARC Ltd. in April 2021. [1]
₹129
52W: ₹109 — ₹206
PE 0 · Book ₹37.2 · +247% vs bookMarket Cap₹3,796 Cr
Stock P/E—Price to Earnings
ROCE0.03%Return on Capital
ROE8.02%Return on Equity
Div. Yield0%Face Value ₹2
Strengths
- +Company has reduced debt.
Weaknesses
- −Stock is trading at 3.42 times its book value
- −Company has low interest coverage ratio.
- −The company has delivered a poor sales growth of -33.8% over past five years.
- −Company has a low return on equity of -1.93% over last 3 years.
- −Contingent liabilities of Rs.2,794 Cr.
- −Company has high debtors of 7,539 days.
Shareholding Pattern
Promoters65.12%
FIIs0.92%
DIIs6.4%
Public27.56%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 64.96% | 64.96% | 64.96% | 65.12%▲0.2 | 65.12% | 65.12% | 65.12% | 65.12% |
| FIIs | 2.89% | 2.72%▼0.2 | 2.35%▼0.4 | 2.46%▲0.1 | 2.3%▼0.2 | 2%▼0.3 | 1.22%▼0.8 | 0.92%▼0.3 |
| DIIs | 1.95% | 3.31%▲1.4 | 4.34%▲1.0 | 4.89%▲0.5 | 5.44%▲0.6 | 5.81%▲0.4 | 6.31%▲0.5 | 6.4%▲0.1 |
| Public | 30.2% | 29.01%▼1.2 | 28.35%▼0.7 | 27.54%▼0.8 | 27.14%▼0.4 | 27.07%▼0.1 | 27.36%▲0.3 | 27.56%▲0.2 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 21.52 | 5.9 | 9.87 | 4.82 | 0.85 | 4.35 | 3.66 | 0 | 1.78 | 32.03 |
| Expenses | 29.82 | 14.68 | 23.35 | 10.06 | 9.94 | 12.95 | 71.1 | 129.89 | 26.46 | 28.59 |
| Operating Profit | -8.3 | -8.78 | -13.48 | -5.24 | -9.09 | -8.6 | -67.44 | -129.89 | -24.68 | 3.44 |
| OPM % | -38.57% | -148.81% | -136.58% | -108.71% | -1069.41% | -197.7% | -1842.62% | 0% | -1386.52% | 10.74% |
| Net Profit | 10.85 | 0.99 | 0.72 | 6.11 | -23.06 | -6.26 | -82.17 | -137.44 | -26.54 | 1.62 |
| EPS ₹ | 0.37 | 0.03 | 0.02 | 0.21 | -0.78 | -0.21 | -2.78 | -4.66 | -0.9 | 0.05 |
AI Insights
Revenue Trend
TTM revenue at ₹37Cr, up 164.3% YoY. OPM at -583%.
Debt Position
Borrowings at ₹854Cr. Debt-to-equity ratio: 0.82x. Moderate leverage.
Institutional Flow
DIIs: 6.4% (+6.04pp change). FIIs: 0.92% (-1.23pp change). Promoters hold 65.12%.
Margin & Efficiency
ROCE improving from 0% (Mar 2018) to 0% (Mar 2025). Working capital days: 5819.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Credit Rating 12 May - Infomerics reaffirmed TARC's NCD rating IVRBBB- with RWN on May 11, 2026.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 2 May
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 30 Apr - ED visited TARC premises on Apr 21, 2025 over pre-2020 pre-demerger transaction; company says no operational impact.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 29 Apr - TARC confirms it is not a large corporate; outstanding borrowings were Rs.409 crore as of March 31, 2026.
- Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Apr - TARC began Tripundra handovers, started revenue recognition, and reported FY26 sales ₹1,323 crore, cash flows ₹1,132 crore.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse