Delhi-based real estate developer TARC Limited has reported consolidated revenue growth of 161% YoY and 68% QoQ at Rs 71.27 crore in the Q1 of the current financial year FY2022-23.
The company has recently raised Rs 1,330 crore from Bain Capital by way of NCD and finalized the financial path for the company’s future growth.
The recent fundraise provides for the management to vigorously focus on projects only without diverting attention to financial planning. The Bain Capital transaction is one of the largest investments received in a real estate company in North India in recent times.
The company also completed two transactions with venerable foreign institutional investors namely, Blackstone and ESR in the past 12 months.
“This growth is testimony of investors’ trust in our projects which offer world- class amenities supported by cutting-edge technologies. In order to offer more options to consumers, we are planning to launch new projects, which are in the pipeline at prime locations across Delhi and Gurgaon. We will partly utilise the fund raised from Bain Capital as well as revenues coming our way from existing projects to develop the upcoming projects,” said Amar Sarin, Managing Director & CEO, TARC Ltd.
The company will launch its upcoming project TARC Tripundra located at Main Bijwasan Road, Pushpanjali Greens, New Delhi.
The company is also planning and developing a number of projects in New Delhi and Gurugram.
Source : ET