TARC Faces Rs 52 Crore Loss

29 May 2024 CW Team

TARC Ltd. reported a net loss of Rs 52 crore for Q4 FY24, signalling a challenging period for the real estate developer. Despite this setback, the company is focused on its long-term strategy and market potential.

In Q4 FY24, TARC Ltd. posted a net loss of Rs 52 crore, a significant drop from its previous financial performance. This downturn has been attributed to multiple factors including increased costs and market volatility. The company's total income also saw a decline, contributing to the negative financial results.

However, TARC remains committed to its growth strategy. The company has been actively working on several high-profile projects aimed at enhancing its market presence and revenue streams. These projects, once completed, are expected to positively impact the company's financial health.

Moreover, TARC is looking into cost optimisation and efficiency improvements to mitigate the adverse effects of the current market conditions. The management is confident that these measures will help in stabilising the financial performance in the upcoming quarters.

The real estate sector has been facing numerous challenges recently, including fluctuating demand and regulatory changes. TARC's management is optimistic about overcoming these hurdles by leveraging its robust project pipeline and strategic initiatives.

The company's focus on premium residential and commercial projects in prime locations is anticipated to drive future growth. Additionally, TARC is exploring opportunities in sustainable and green building solutions, aligning with the growing demand for environmentally friendly real estate options.

TARC's management remains optimistic about the future despite the current financial strain. They are committed to delivering value to stakeholders through strategic investments and operational excellence. The upcoming quarters will be critical for the company as it aims to recover from this financial dip and reinforce its market position.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..