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Local real estate developer TARC Limited is celebrating a banner year, achieving record-breaking presales and collections in the financial year 2023-24. This strong performance positions the company for even greater success in the coming year.
TARC Limited reported a 200% increase in presales, reaching a total of INR 1,612 crore. This significant growth signifies not only a strong market presence but also a rise in customer trust for the developer. The company also achieved its highest annual collection ever, at INR 415 crore.
The success can be partly attributed to the launch of their new project, TARC Kailasa, located in New Delhi. This "prestigious project," as CEO Amar Sarin describes it, saw exceptional sales in the last quarter, contributing significantly to the overall growth. Construction for TARC Kailasa has already begun, with the well-regarded Arabian Construction Company (ACC) appointed as the EPC contractor for a project valued at INR (to be confirmed).
Looking ahead, TARC Limited is excited to launch its upcoming project, TARC 63A. With a sample apartment, experience center, and sales gallery already complete, the company is optimistic about its success, citing the project's prime location and current market trends.
Sarin stated that FY2023-24 has been a significant milestone for TARC Limited, crediting the success of the company's unwavering commitment to excellence, innovation, and delivering exceptional value to their customers. He continued, expressing confidence that with their dedicated team and clear vision, they would surpass their pre-sales target of INR 5,000 crore in FY 2024-25. Sarin also expressed gratitude to TARC's loyal customers for their continued support.
This news comes amidst a positive outlook for the Indian real estate market. A recent report predicts continued growth in the sector, fueled by factors like low-interest rates and a rise in demand for quality housing. TARC Limited appears well-positioned to capitalize on this momentum, leveraging its strong performance and upcoming projects to solidify its position as a leading real estate developer in India.
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