TARC Limited income from operations grow 330.9% YoY & 490.2% QoQ

Delhi, November 15, 2021: Delhi based Real Estate Developer TARC Limited has reported revenue of Rs. 16,102.10 lakhs in the second quarter of FY21-22.

During the period EBIDTA grew 652.8%.

Commenting on the company’s performance, Amar Sarin, Managing Director & CEO, TARC Limited., said, “We hold large land banks in New Delhi and plan to develop and monetise them in phases. The proceeds of our recent asset sale will help fast track our residential projects thus consolidating our strategy to develop higher yielding and future ready premier housing projects.”

According to a press issued by the company, it has sold most of its inventory in its Maceo project. The company is launching two projects – a 200 unit development in Rajokri, New Delhi and another 500 units development on Extended Golf Course Road, Gurgaon within this financial year.

TARC Limited successfully concluded the sale of its warehousing asset in North Delhi to BREP Asia II EIP Holding (NQ) Pte. Limited, an affiliate of funds controlled, managed and/or advised by Blackstone Inc (BREP) for Rs. 295 crores. Part of the proceeds will be utilised to fast track the residential projects.

Company’s focus is to create value through its owned and fully paid-up land parcels via building high quality developments that deliver on scale, higher quality of living as well as ensuring higher returns on capital.