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TARC Limited Announces Results for Q4 & FY24
Posted On : 2024-05-28 11:21:14( TIMEZONE : IST )
TARC Limited has announced its audited results for the fourth quarter ended March 31,2024. TARC Limited achieved a lifetime high presale of Rs. 11,612 crore and collection of Rs. 415 crore respectively for FY2A24 underscoring its position as a leading brand in the luxury residential sector.
Strategic and OperationalAchievements - Project Performance and Future Outlook
TARC Limited continues to experience robust demand in the luxury residential segment, particularly in Delhi and Gurugram. The company's strategic focus on high cash flow generation, supported by healthy project economics, has facilitated remarkable responses to its ongoing developments.
TARC Kailasa: Launched in January 2024 in Central West Delhi with a GDV of Rs. 4,000 crore, Phase I has already sold out, showcasing strong market traction and price appreciation. The next phase, Kailasa 2.0, is set to launch in June 2024.
TARC Tripundra: This project, with a GDV of over Rs. 1,000 crore, has seen robust sales and a price appreciation of nearly 75% since its launch. The structure is completed, and delivery to customers is anticipated within the next 12 months, well ahead of schedule.
Upcoming Gurugram Development: The company is poised to launch a new project in Gurugram with a GDV of over Rs. 2,600 crore. The Sales Gallery and a Sample Apartment are completed, highlighting TARC's readiness to capitalize on market opportunities.
We enter the new financial year with confidence and a commitment to growth. Our robust pipeline and ongoing developments position us to exceed our presales guidance of Rs. 5,000 crore in FY2025. We are dedicated to creating unparalleled iiving experiences and delivering value to our stakeholders.
TARC Limited is well-positioned to leverage its in-house capabilities and strategic financial collaborations, particularly with Bain Capital, to drive sustained growth in FY2025 and beyond. The company's unwavering commitment to excellence and innovation continues to redefine urban luxury living.
Key Financial Highlights - Q4 & FY24
Cash flow from operations for consolidated entity has increased from (Rs. 81) crore in FY23 to Rs. 158 crore in FY24.
