TARC Achieves ?1,350 Crore Presale for Gurugram Luxury Project

02 Dec 2024 CW Team

Real estate developer TARC Ltd has achieved ?1,350 crore in presales, representing 50% of its luxury residential project TARC Ishva in Sector 63A, Gurugram. Launched in September 2024, the 1.35 million sq ft project has a total revenue potential of ?27 billion.

The robust presales have contributed to TARC’s impressive 900% year-on-year growth in Q2 FY25, with total presales reaching ?1.12 billion. This momentum is expected to help the company meet its fiscal guidance.

"We have experienced end-user-driven demand for our projects and remain confident about continuing this momentum," said Amar Sarin, Managing Director & CEO, TARC Limited.

In addition to TARC Ishva, the developer reported ?1,824 crore in total presales for TARC Kailasa, another ultra-luxury project, with foundation work underway following excavation completion.

TARC also refinanced ?10 billion of debt during the quarter, significantly reducing borrowing costs to 12.75% from over 18%. The company remains focused on creating premium developments for its customers.

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