Construction Industry News
After the company announced that its newly launched TARC Tripundra luxury residential project in Delhi has generated revenue of Rs 350 crore, TARC's share price rose 5.70 percent to Rs 43.60.
TARC Tripundra is conveniently located on Bijwasan Road in New Delhi, close to Pushpanjali Farms. It is close to Indira Gandhi International Airport, Cyber City and Aerocity. The gated community project offers a variety of luxury amenities and has a potential sales value of approximately Rs 9000 million.
“Delhi's promising growth has transformed it into a vibrant metropolis, offering multiple opportunities in an ever-evolving real estate industry,” said Amar Sarin, MD and CEO of TARC. “We are pleased that our launch has generated an extremely positive response from homebuyers despite the global economic headwinds, and that we have closed 2022 on a high note, with our sales price increasing by almost 25 percent.” he added.
TARC partnered with a leading developer of residential, hospitality, commercial, retail, warehousing, IT, institutional and mixed-use developments in prime locations across Delhi and the National Capital Region. The developer had one of the largest land banks and important parcels of land. Following the most recent partnerships with Bain Capital, USA and Blackstone lnc, TARC has increased its brand equity.
A revenue increase of 73.92 percent to Rs 416.70 million in Q2 FY23 compared to Q2 FY22 led to a 54.15 percent increase in the company's consolidated net profit to Rs 81.70 million.
243
899
246
879
1000
2499
1799
2999
380
999
328
799
296
799
308
1399
401
599
