TARC reports Rs 3500 million in sales in New Delhi project
11 Jan 2023
2 Min Read
CW Team
After the company announced that its newly launched luxury residential project TARC Tripundra in Delhi has generated sales worth Rs 350 crore, TARC's share price increased by 5.70 per cent to Rs 43.60.
TARC Tripundra is conveniently located on New Delhi's Bijwasan Road, close to Pushpanjali Farms. It is close to the Indira Gandhi International Airport, Cyber City, and Aerocity. The gated community project offers a variety of luxurious amenities and has a potential sales value of approximately Rs 9000 million.
"The promising growth of Delhi has transformed it into a buzzing metropolis, offering multiple opportunities in an ever-evolving real estate sector," stated Amar Sarin, MD and CEO of TARC. 鈥淲e are pleased that our launch elicited an extremely positive response from homebuyers, despite the global economic headwinds, and that we closed 2022 on a high note, with our sale price increasing by nearly 25 per cent.鈥� he added.
TARC worked with a leading developer of residential, hospitality, commercial, retail, warehousing, lT, institutional, and mixed-use developments in prime locations in Delhi and the National Capital Region. The developer had one of the largest land banks and key land parcels. Following its most recent partnerships with Bain Capital, USA and Blackstone lnc, TARC has increased its brand equity.
A 73.92 per cent increase in sales to Rs 416.70 million in Q2 FY23 compared to Q2 FY22 led to a 54.15 per cent increase in the company's consolidated net profit to Rs 81.70 million.
After the company announced that its newly launched luxury residential project TARC Tripundra in Delhi has generated sales worth Rs 350 crore, TARC's share price increased by 5.70 per cent to Rs 43.60.
TARC Tripundra is conveniently located on New Delhi's Bijwasan Road, close to Pushpanjali Farms. It is close to the Indira Gandhi International Airport, Cyber City, and Aerocity. The gated community project offers a variety of luxurious amenities and has a potential sales value of approximately Rs 9000 million.
The promising growth of Delhi has transformed it into a buzzing metropolis, offering multiple opportunities in an ever-evolving real estate sector, stated Amar Sarin, MD and CEO of TARC. 鈥淲e are pleased that our launch elicited an extremely positive response from homebuyers, despite the global economic headwinds, and that we closed 2022 on a high note, with our sale price increasing by nearly 25 per cent.鈥� he added.
TARC worked with a leading developer of residential, hospitality, commercial, retail, warehousing, lT, institutional, and mixed-use developments in prime locations in Delhi and the National Capital Region. The developer had one of the largest land banks and key land parcels. Following its most recent partnerships with Bain Capital, USA and Blackstone lnc, TARC has increased its brand equity.
A 73.92 per cent increase in sales to Rs 416.70 million in Q2 FY23 compared to Q2 FY22 led to a 54.15 per cent increase in the company's consolidated net profit to Rs 81.70 million.
Next Story
Dassault To Build Falcon Jets In India With Reliance
Reliance Infrastructure Ltd鈥檚 subsidiary, Reliance Aerostructure, has signed an agreement with France鈥檚 Dassault Aviation to manufacture Falcon 2000 business jets in India, with the first batch expected to roll out from its Nagpur facility by 2028. This marks the first time a Falcon aircraft will be entirely built outside France.The announcement sent Reliance Infrastructure shares surging, hitting the 5 per cent upper circuit on the BSE. Anil Ambani, Chairman of Reliance Group, hailed the agreement as a 鈥渟ymbol of India鈥檚 technological and manufacturing strength鈥�, adding that it aims..
Next Story
INDEA Lays Foundation for India鈥檚 First Auto Design School
The Indian School for Design of Automobiles (INDEA), the country鈥檚 first institute focused solely on automobile design and management, held its foundation stone ceremony at XLRI Delhi-NCR. The event was graced by Union Minister for Road Transport and Highways, Nitin Gadkari, who virtually unveiled the stone as Chief Guest.INDEA aims to become a premier talent hub, driving innovation in the Indian automotive sector. The school will focus on advanced design, mobility solutions, and sustainable practices, playing a vital role in shaping India鈥檚 transition from a cost-driven to a quality-led a..
Next Story
Karnataka Launches Global Innovation Hub at Airport City
The Government of Karnataka, in collaboration with Bengaluru Airport City Limited (BACL) and ANSR, has launched a global innovation hub named District I at Bengaluru Airport City's business park. The initiative aims to elevate India鈥檚 innovation ecosystem to a global scale by fostering collaboration among startups, academia, enterprises, and government bodies.District I will serve as a platform for deep-tech entrepreneurship, enterprise innovation, and commercialisation of academic research. It brings together Global Capability Centres (GCCs), IT firms, corporate labs, startups, venture capi..
