New Delhi, July 7 -- Defying the broader market weakness, shares of real estate developer TARC jumped 12.3% to an intraday high of Rs.142.40 on Monday after the company reported a strong operational performance for the June quarter.

In a regulatory filing during market hours, the company reported robust sales momentum and higher collections across its luxury residential portfolio.

TARC said its quarterly pre-sales surged to Rs.602 crore, marking a three-fold increase year-on-year, while collections rose 80% YoY to Rs.305 crore, supported by strong customer conversions and improved collection efficiency, resulting in healthy cash flow visibility.

The company said it continues to make progress on construction across its ongoing projects ...