Shares of Tarc surged 5 percent to Rs 216 per share on November 27 after the company announced that it has sold 50 percent of project TARC Ishva amounting to Rs 1,350 crore.
So far this year, shares of this smallcap realty player surged over 55 percent, as compared to benchmark Nifty 50's 10 percent rise. Earlier, TARC had hit 52-week high of Rs 275 per share on October 7, 2024. Only 1 brokerage covers this stock with a "buy" rating on it.
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TARC Ishva is located along Golf Course Extension Road in sector 63A of Gurugram. It is a 1.35 million square feet luxury residential development offering Four Side Open Residences with expansive views of the Aravali Hills and complimented with unparalleled amenities being offered in the condominium.
"After the overwhelming success of our developments, TARC Tripundra and TARC Kailasa, launch of our luxury residential development TARC lshva in Gurugram has been quite exhilarating. The trust and reliance that Gur customers have reposed in the TARC brand is even more eupohoric and we would like to thank our esteemed customers," said Amar Sarin, Managing Director & CEO at TARC.
Earlier this month, the company had issued new series of NCDs on private placement basis upto an aggregate principal amount of Rs 470 crore.
In the recently concluded September quarter, the company's revenue fell 85 percent YoY to Rs 5.02 crore, while net profit decreased sharply over 7x YoY to Rs 67 crore.
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