NEW DELHI: Realty developer TARC Ltd is expecting Rs 2,000 crore revenue from the next phase of its two projects – Ishva and Kailasa, Amar Sarin, managing director and CEO of the company told ET.
The developer has reported pre-sales of Rs 1,165 crore, during Q3FY25 taking the pre-sale to Rs 2,487 crore in the first nine months of FY2025, nearly six-fold year-on-year increase.
“The success of TARC Ishva and TARC Kailasa is a testament to the growing demand for our thoughtfully designed luxury residences. The unveiling of last towers marks another milestone in mission towards redefining uber luxury living experiences and developing differentiated luxury homes proposition,” Sarin said.
The company has about 800,000 sq ft area for sale in the two projects.
TARC has acquired an additional land parcel in Gurugram, further strengthening its portfolio and enhancing its potential Gross Development Value.
The luxury real estate markets in Delhi and Gurugram are well-positioned for high growth, fuelled by robust demand, strategic infrastructure developments, and the city’s status as key hubs for high-net-worth individuals.
As India’s economy continues its positive trajectory, the luxury real estate sector is set to benefit from a growing affluent population. The demand for luxury residences is expected to rise alongside the cities’ evolving urban landscapes.
TARC Limited had raised Rs 1,000 crore from a consortium of domestic banks and financial institutions led by Kotak Mahindra Bank.
The majority of the funds, raised at 12.75% interest, will be used for refinancing of its existing debt along with Rs 250 crore additional working capital facility to be available on call.
The consortium included institutions such as Nomura Capital, Aditya Birla Capital and STCI.
The company is investing Rs 1,200 crore in developing TARCKailasa, a luxury residential project in western Delhi’s Kirti Nagar.
It will develop 1.7 million sq ft under this project and is expecting Rs 4,000 crore revenue from it.
TARC Kailasa is spread on a 6-acre land parcel and will have five high-rise towers designed by Andy Fisher Workshop of Singapore.
The company has appointed Arabian Construction Company as its construction contractor, considering their expertise in high-rise constructions and the large number of delivered projects across India and the UAE.
