TARC Ltd.

•

tarc.inBSE: 543249NSE: TARC

Market Cap₹ 3,829 Cr.

Current Price

High / Low₹ 186 / 109

Stock P/E0.0

Book Value₹ 36

Price to Book3.01

Dividend Yield0.00 %

ROCE-7.3 %

ROE-14.1 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

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PROS

Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -7.0% over last 3 years
Company has a low return on capital employed of -1.5%
Interest coverage is weak at -3.6x - earnings barely cover interest
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.61x)
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	DLF	656.40	36.55	162479.46	1.22	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1165.45	28.23	116454.47	0.36	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1897.90	53.03	67883.68	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1541.85	58.31	66412.14	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1796.30	24.84	65313.87	0.45	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1860.00	35.01	56028.13	0.54	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	613.40	38.15	22074.85	0.16	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	662.00	31.08	21598.36	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1341.65	113.30	14985.65	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1228.35	56.96	13137.67	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	785.75	10.59	11054.40	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	TARC	129.75	0.00	3828.87	0.00	22.65	-58.23	217.13	186.07	2.31	18.51

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	23	22	6	10	5	1	4	4	0	2	32	2	11
	32	30	18	23	10	10	13	71	130	26	29	26	34
Operating Profit	-9	-8	-13	-13	-5	-9	-9	-67	-130	-25	3	-25	-23
OPM %	-37.40%	-38.62%	-213.22%	-136.58%	-108.71%	-1069.41%	-197.93%	-1842.35%	—	-1386.52%	10.71%	-1308.79%	-218.10%
	31	30	29	26	26	27	18	23	1	3	2	4	2
Interest	21	11	12	10	12	47	17	24	13	11	11	10	9
Depreciation	0	1	1	1	1	1	1	1	1	1	1	1	1
Profit before Tax	1	10	4	1	8	-31	-9	-69	-142	-34	-6	-20	-21
Tax %	25.68%	-7.96%	74.62%	49.65%	25.67%	24.52%	28.05%	-18.33%	3.18%	20.96%	125.51%	83.71%	-14.43%
Net Profit	1	11	1	1	6	-23	-6	-82	-137	-27	2	-3	-24
	0.04	0.37	0.03	0.02	0.21	-0.78	-0.21	-2.78	-4.66	-0.90	0.05	-0.11	-0.83

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	107	175	436	197	60	14	36	46
	99	164	539	190	100	104	211	115
Operating Profit	9	11	-103	7	-39	-90	-176	-69
OPM %	8.06%	6.29%	-23.56%	3.57%	-64.91%	-660.44%	-492.37%	-148.94%
	11	5	25	123	117	94	20	10
Interest	14	8	52	117	58	101	44	41
Depreciation	2	2	2	2	3	3	3	3
Profit before Tax	3	5	-132	12	17	-100	-202	-81
Tax %	-65.56%	6.88%	-11.37%	-21.39%	19.03%	-4.89%	18.02%	35.35%
Net Profit	4	5	-147	14	14	-105	-166	-53
EPS	0.15	0.17	-4.97	0.49	0.46	-3.57	-5.61	—
Dividend Payout %	—	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: -27%
3 Years:: -43%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: 26%
3 Years:: 12%
1 Year:: -18%

RETURN ON EQUITY

10 Years:: —
5 Years:: -6%
3 Years:: -7%
Last Year:: -14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0	59	59	59	59	59	59
	1,421	1,426	1,279	1,294	1,307	1,202	1,036
	1,075	1,074	864	1,446	1,453	405	805
Trade Payables	18	30	30	13	9	20	24
	291	231	209	64	131	1,047	595
Total Liabilities	2,805	2,820	2,442	2,876	2,959	2,733	2,518
	281	286	6	8	10	8	6
	566	558	558	558	558	547	513
	829	848	498	378	445	677	905
	0	0	0	0	484	283	90
Cash & Bank	2	4	10	75	7	26	32
	1,127	1,123	1,369	1,857	1,454	1,194	972
Total Assets	2,805	2,820	2,442	2,876	2,959	2,733	2,518

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	72	159	-38	-28	-8	257	423
Cash from Investing	56	41	363	-386	105	511	126
Cash from Financing	-132	-196	-307	477	-165	-751	-543
	-5	3	6	64	-67	18	6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.96	64.96	64.96	65.12	65.12	65.12	65.12	65.12	65.12
	2.89	2.72	2.35	2.45	2.30	2.00	1.22	0.92	0.99
	1.95	3.31	4.34	4.89	5.44	5.81	6.31	6.40	6.44
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	30.20	29.01	28.36	27.54	27.14	27.08	27.35	27.56	27.45

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

General Updates

2026-09-08 - TARC Limited has informed the Exchange about receipt of In Principle approval from BSE Limited in respect of amendment of the redemption schedule of the Debenture Trustee Deed

2026-08-29

General Updates

2026-08-29 - TARC Limited has informed the Exchange about letters to shareholders providing web link to access the Annual Report and Notice of AGM.

2026-08-29

Copy of Newspaper Publication

2026-08-29 - TARC Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-27

Shareholders meeting

2026-08-27 - TARC Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 19, 2026

2026-08-24

Copy of Newspaper Publication

2026-08-24 - TARC Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Resignation of Statutory Auditor

2026-08-13 - TARC Limited has informed the Exchange about Resignation of Statutory Auditor

2026-08-13

Copy of Newspaper Publication

2026-08-13 - TARC Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Resignation

2026-08-13 - TARC Limited has informed the Exchange regarding Resignation of Doogar & Associates as the statutory auditors of TARC Projects Limited, a material subsidiary of the Company, vide its letter dated August 12, 2026.

2026-08-11

Investor Presentation

2026-08-11 - TARC Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for TARC

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TARC Ltd.

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Name

DLF

656.40

36.55

162479.46

1.22

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1165.45

28.23

116454.47

0.36

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1897.90

53.03

67883.68

0.13

394.51

22.95

1074.94

12.80

15.41

59.77

PRESTIGE

1541.85

58.31

66412.14

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

OBEROIRLTY

1796.30

24.84

65313.87

0.45

543.51

29.02

1300.89

31.73

17.69

56.75

GODREJPROP

1860.00

35.01

56028.13

0.54

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

613.40

38.15

22074.85

0.16

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

662.00

31.08

21598.36

0.23

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1341.65

113.30

14985.65

0.19

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1228.35

56.96

13137.67

0.49

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

785.75

10.59

11054.40

0.00

-16.53

-148.00

551.99

-36.24

34.77

-8.10

TARC

129.75

0.00

3828.87

0.00

22.65

-58.23

217.13

186.07

2.31

18.51

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

130

Operating Profit

-9

-8

-13

-5

-9

-67

-130

-25

-23

OPM %

-37.40%

-38.62%

-213.22%

-136.58%

-108.71%

-1069.41%

-197.93%

-1842.35%

—

-1386.52%

10.71%

-1308.79%

-218.10%

Interest

Depreciation

Profit before Tax

-31

-9

-69

-142

-34

-6

-20

-21

Tax %

25.68%

-7.96%

74.62%

49.65%

25.67%

24.52%

28.05%

-18.33%

3.18%

20.96%

125.51%

83.71%

-14.43%

Net Profit

-23

-6

-82

-137

-27

-3

-24

0.04

0.37

0.03

0.02

0.21

-0.78

-0.21

-2.78

-4.66

-0.90

0.05

-0.11

-0.83

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

107

175

436

197

164

539

190

100

104

211

115

Operating Profit

-103

-39

-90

-176

-69

OPM %

8.06%

6.29%

-23.56%

3.57%

-64.91%

-660.44%

-492.37%

-148.94%

123

117

Interest

117

101

Depreciation

Profit before Tax

-132

-100

-202

-81

Tax %

-65.56%

6.88%

-11.37%

-21.39%

19.03%

-4.89%

18.02%

35.35%

Net Profit

-147

-105

-166

-53

EPS

0.15

0.17

-4.97

0.49

0.46

-3.57

-5.61

—

Dividend Payout %

—

0.00%

—

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,421

1,426

1,279

1,294

1,307

1,202

1,036

1,075

1,074

864

1,446

1,453

405

805

Trade Payables

291

231

209

131

1,047

595

Total Liabilities

2,805

2,820

2,442

2,876

2,959

2,733

2,518

281

286

566

558

547

513

829

848

498

378

445

677

905

484

283

Cash & Bank

1,127

1,123

1,369

1,857

1,454

1,194

972

Total Assets

2,805

2,820

2,442

2,876

2,959

2,733

2,518

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

159

-38

-28

-8

257

423

Cash from Investing

363

-386

105

511

126

Cash from Financing

-132

-196

-307

477

-165

-751

-543

-5

-67

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

64.96

65.12

2.89

2.72

2.35

2.45

2.30

2.00

1.22

0.92

0.99

1.95

3.31

4.34

4.89

5.44

5.81

6.31

6.40

6.44

Government

0.00

30.20

29.01

28.36

27.54

27.14

27.08

27.35

27.56

27.45

TARC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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TARC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI