December 2, 2024 |
TARC Reports Rs 1,350 Crore Pre-sale From Gurgaon Project
Later realty developer TARC Ltd has reported Rs 1,350 crore pre-sale, which is 50% of project TARC ISHVA in Gurgaon.
The company had launched the project in September this year.
The sale will help TARC in achieving the guidance for this fiscal year and is confident of selling out the balance inventory soon.
The project is a 1.35 million square feet luxury residential development.
“We have experienced end-user driven demand for our projects. We are extremely confident that this momentum will continue and we plan to bring more such developments for our valuable customers in the near future,” said Amar Sarin, Managing Director & CEO, TARC Limited.
TARC Ltd has reported presales of Rs 1,012 crore, 900% year-on-year growth for Q2 FY25 as it launched TARC Ishva – 1.35 million square feet development in Sector 63A, Gurugram with total revenue potential of Rs 2,700 crore.
The company also completed debt refinancing of Rs 1,000 crore at much lower borrowing cost of 12.75% from upwards of 18% during the quarter.
Company’s emphasis continues to be on the ultra luxury residential developments.
TARC Kailasa has achieved a total presale of Rs 1,824 crore till the end of H1FY25, and the company has commenced the foundation works for the project upon completion of the excavation activity.
Source : ET
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