TARC Reports Q2 Net Loss of Rs.67.36 Crore

12 Nov 2024 CW Team

Real estate developer TARC Ltd. reported a consolidated net loss of Rs.67.36 crore for the second quarter of the fiscal year 2024-25, reflecting challenges in the sector. This loss is in contrast to the company’s operational goals and highlights the impact of market fluctuations and rising input costs affecting profitability. TARC's total income during the quarter was Rs.35.66 crore, down from the previous year's comparable figures, which underscores a slowdown in revenue-generating activities for the period.

The decline is attributed to several factors, including escalating construction costs, higher interest rates, and subdued demand in certain segments of the real estate market. TARC's management expressed a commitment to overcoming these financial setbacks by focusing on operational efficiency, asset optimization, and exploring alternative financing strategies to stabilize the company’s financial performance.

The broader real estate sector is also facing headwinds, with many companies grappling with the rising cost of materials and labor. Industry experts note that TARC’s financial performance mirrors trends seen across the sector, where companies are adjusting to maintain stability in an environment of heightened costs and economic uncertainties.

Moving forward, TARC aims to navigate these challenges by focusing on cost control, improving project timelines, and enhancing sales in residential and commercial properties. The company also plans to leverage strategic partnerships to support ongoing projects and expand its portfolio in prime locations. However, sustained improvement may depend on market conditions, interest rate adjustments, and regulatory developments in the real estate sector.

Infrastructure Transport

07 Apr 2026

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..

Gujarat Pushes Biogas Growth With 193 Operational Units

Gujarat has operationalised 193 biogas plants across the state and is planning to add 60 more units as part of a broader push to scale up clean and sustainable energy solutions. The existing plants, established under various government-supported schemes, process organic waste including cattle dung and agricultural residue to produce biogas and a nutrient-rich slurry. The output is mainly used for cooking and other energy needs in rural and semi-urban communities, while also improving local waste management practices. The Gujarat Energy Development Agency (GEDA) is leading the initiative and is..