TARC Posts Rs 67.36cr Net Loss in Q2 FY25

New Delhi, Nov 8 (PTI) Realty firm TARC Ltd has posted a consolidated net loss of Rs 67.36 crore in the second quarter of this fiscal year on higher expenses.

The company posted a net profit of Rs 1.06 crore in the year-ago period.

Total income declined sharply to Rs 5.02 crore in the July-September period of this fiscal from Rs 34.67 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday.

Its expenses increased to Rs 80.76 crore from Rs 52.79 crore during the period under review.

With a total pre-sales of Rs 1,322 crore in the April-September period of FY'25, the company said it is "very well on track to meet its guidance for the fiscal year".

Amar Sarin, MD & CEO, TARC Ltd said, "TARC has officially launched its announced pipeline across its three projects, boasting a gross development value of Rs 7,500-8,000 crores.

"The response from customers has been exceptional, reinforcing its reputation as a leading ultra luxury residential developer in the National Capital Region. While we continue with the sale of our current projects, we are also simultaneously preparing to unveil our next series of luxury residential developments in Delhi and Gurugram in the near future," he added.

TARC Ltd is developing real estate projects in Delhi-NCR.