TARC Ltd Reports Rs 52 Crore Net Loss in Q4 FY24

New Delhi, May 28 (PTI) Realty firm TARC Ltd has posted a consolidated net loss of Rs 51.73 crore for the quarter ended March on lower income.

The company had posted a net profit of Rs 1.56 crore in the year-ago period.

Total income declined 92 per cent to Rs 10.36 crore in the fourth quarter of last fiscal from Rs 135.53 crore in the corresponding period of the previous year, according to a regulatory filing on Monday.

During the 2023-24 fiscal, the company posted a net loss of Rs 77.44 crore as against a net profit of Rs 20.36 crore in the preceding year.

Total income declined to Rs 121.40 crore in the last financial year from Rs 374.66 crore in the 2022-23 fiscal.

TARC Ltd said it has achieved record sales bookings of Rs 1,612 crore in the 2023-24 fiscal.

"Our robust pipeline and ongoing developments position us to exceed our presales guidance of Rs 5,000 crore in FY25," the company said.

TARC Ltd is developing many luxury housing projects in the Delhi-NCR market.