Realty company TARC announced Q1FY24 results: Revenue for Q1FY24 stood at Rs 64.57 crore EBITDA stood at Rs 42.74 crore PBT stood at Rs 7.49 crore Pre-payment of NCDs dues of Rs 100 crore, including Rs 56.90 crore towards partial redemption of principle amount. The Company has fulfilled all commitments ahead of its schedule since the issue of NCDs in April, 2022. Commenting on the developments, Amar Sarin, MD & CEO, TARC said, “TARC's trajectory in the first quarter of FY24 continued to surge, driven by our focus on generating strong sales booking numbers and business developments. Our growth is well secured by the robust pipeline of high-value luxury projects, which assures our achievement of the sales booking target for FY24. Additionally, backed by our landbank, strong brand presence, and execution capabilities, we are actively cultivating a robust pipeline of business opportunities in New Delhi and Gurugram. These opportunities aim to provide prime locations and premium luxury offerings. With the cumulative estimated GDV of our on-going residential projects surging to Rs 7,000 crore, we remain optimistic about new launches as we gear up for continuing growth in the business in the coming years along with additional receipt of enhanced land compensation amount from statutory authorities.” Result PDF
Realty firm TARC announced Q3FY23 results: Consolidated Q3FY23 & 9MFY23: Growth of 57% in total income in Q3FY23 to Rs 109.64 crore and for 9MFY23, it stands at Rs 239.13 crore Growth of 77% in profit after tax for 9MFY23 at Rs 18.82 crore and for Q3FY23 stands at Rs 1.35 crore Strong new sales bookings, reaching best ever-new heights by touching Rs 350 crore First voluntary prepayment of Rs 66 crore towards its NCDs obligations OC received in TARC Moceo, Gurugrom, exceptional price increase of above 60% Commenting on the developments, Amar Sarin, MD & CEO, TARC Limited, said, "TARC continues its journey of multi-fold growth momentum with its leading luxury residential projects offerings in New Delhi & NCR region, led by a customer-centric approach of experiential living, capitalizing on the existing land bank owned by the Company. We are witnessing the acceptance of larger homes and an increase in demand for our luxury residential projects. We believe that this trend will continue since Delhi's urban skyline is undergoing phenomenal transformation." Result PDF
Realty company TARC announced Q2FY23 results: Q2FY23: Revenue (consolidated) for H1FY23 at Rs 129.48 crore and Rs 58.27 crore in Q2FY23 Profit before tax (consolidated) stood at Rs 28.66 crore in H1FY23 and Rs 70.35 crore in Q2FY23 H1FY23: New sales bookings Rs 117.45 crore The compensation received from Government, Rs 70.13 crore - a due process initiated for an enhanced amount TARC Tripundra (near Pushpanjali Farms, South Delhi) launched on 14 October 2022 with an estimated GDV of Rs 900 crore Patient capital of Rs 1,330 crore received from Bain Capital in April 2022 through NCDs The team strengthened further with the senior hiring of the Head of Sales and Marketing, Head of Investor Relations & Strategy and Head - Design & Architecture. Commenting on the developments, Amar Sarin, MD & CEO, TARC Limited said, "TARC is making noteworthy developments with new projects being launched while receiving overwhelming consumer response. The TARC brand is gaining substantial space in consumer minds for premium residency. We are optimistic about the strong consumer demand in New Delhi and the NCR with a preference for high-quality, premium luxury products. Accordingly, the Company is executing its well-thought strategy of sustained new launches in the next 12-18 months. Surplus cash generation from business development opportunities and substantial compensation to be received from Government on land acquisition will help strengthen our Balance Sheet. At TARC, we are building a best-in-class management team along with robust internal controls and systems while continuously working to implement best Corporate Governance Practices and creating value for all our stakeholders." Result PDF
Realty firm TARC announced Q1FY23 Result : TARC Limited Reports Consolidated Revenue Growth of 161% YoY & 58% QoQ Robust growth on all fronts - Revenue, EBITA and Net Profit . Recently raised Rs 1,330 Cr from Bain Capital by way of NCD and finalized the financial path for the Company's future growth TARC Tripundra garnered huge interest owing to locational advantage and state-of-the-art offerings TARC Limited, a leading New Delhi based real estate developer, has reported an impressive revenue generation of Rs. 71.27 crores in the Q1 of the current financial year FY2022-23. The Company also reported a robust growth in EBITDA in comparison to previous periods and witnessed a quantum jump in consolidated Profit during the period. Commenting on the Company's stellar performance, Amar Sarin, Managing Director & CEO, TARC Ltd., stated, "This growth is the testimony of investors' trust in our projects which offer world-class amenities supported by cutting-edge technologies. ln order to offer more options to consumers, we are planning to launch new projects, which are in the pipeline at prime locations across Delhi and Gurgaon. We will partly utilize the fund raised from Bain Capital as well as revenues coming our way from existing prajects to develop the upcoming projects." Result PDF