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.

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..