Last updated on July 8th, 2023 at 11:13 pm

Newzdaddy Business Updates

Shares of TARC Limited delivered massively in the last six months, gaining nearly 58%.

TARC’s three luxury projects target Rs. 5,500 crore GDV to be delivered.

About TARC

• TARC Limited is the biggest land owner in Delhi NCR.
• The first company to prepay their loans and debts and now a cash-rich organization.
• Rs. 6000 CR projects on hand.
• TARC Limited builds Residentials, Commercial buildings, Cinemas, hospitals etc.
• TARC Limited is a demerger company of Anant Raj Corporation. 
• Builds only Premier luxury houses and apartments.

July 05, TARC Limited (NSE: TARC, BSE: 543249) is a premier luxury real estate developer known for providing exceptional living experiences to its clients. TARC is currently focusing on developing around 3.5 million square feet of luxury residential in Delhi and Gurugram with an average selling price of Rs 20,000 per sq. ft. feet. With such a premium offering, TARC has become synonymous with luxury and customers are willing to pay a premium price for the brand’s exceptional quality and prestige. Driven by a firm mission to revolutionize urban living, TARC is committed to forward-thinking, high-end developments that embody the essence of excellence. TARC currently has the widest and largest portfolio of prime land parcels in Delhi and NCR with strategic financial support from Bain Capital further strengthening its position in the industry.

Operational and Financial Update FY 23

TARC Delivers Exceptional Performance in FY23 Crossing INR 520 Crore in Sales Value Net Profit of INR 375 Crore to INR 20 Crore NEW DELHI, May 31, 2023. The company has achieved its best-ever annual projects, sales performance, promising cash flow generation and progressive Reported financial performance.
TARC Limited launched its initial debt reduction plan.

TARC Limited is pleased to announce the early repayment of its NCDs liabilities, a testament to its improved sales performance, consistent and healthy cash flow. This proactive measure reflects the company’s commitment to maintaining a disciplined financial position and capitalizing on opportunities for sustainable growth.
The company paid Rs. 88 crore has been paid. Out of which Rs. 57 crore towards redemption of the notional amount of NCDs. With this payment the company will get Rs. 100 crores has fulfilled its payment obligation before the due date. First Prepayment Rs. 12 crore from afforestation in the month of December last year by the company Rs. 100 crores worth of work was done.

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Major Updates

Sales Value

Achieved project sales value of INR 520 crore in FY23, significantly exceeding the target of INR 400 crore. The company’s Q4 FY23 sales figure at INR 175 crore, indicating a strong completion for the financial year.
TARC Tripundera achieved healthy booking numbers and also saw a sharp rise in prices. The estimated gross sales value of this project is over INR 900 crore which is significantly higher than the previous value of INR 650 crore.
TARC Maceo project achieves 100% sold status with full completion and recent price increase of 45%.

Target for FY24

The company has set its sights on a mammoth project sales value target of INR 1,500 crore for FY24, three times the current year’s booking of INR 520 crore.

Revenue and Profit after Tax

With the completion of projects with returns due to land acquisition, the company has recorded a steady improvement in top-line and bottom-line. During Q4 of FY23, the company registered revenue of INR 136 crore and EBITDA of INR 39 crore.

Strong cash flow

FY23 recorded a cash flow of INR 250 crore including compensation from the government for land acquisition. Enabled by a healthy cash position, the company made its payment obligations ahead of schedule.

TARC’s progressive performance is driven by competent and talented leadership who lead by example. The company’s EBITDA of INR 166 crores and margin improvement of 44% is a testimony to the company’s focus, consistent performance and unmatched dedication of a talented team and professional and experienced promoters.

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