TARC zoomed 5.70% to Rs 43.60 after the company said that it has clocked sales worth Rs 350 crore for its recently launched luxury residential project TARC Tripundra in Delhi.
Located in the surroundings of Pushpanjali Farms on New Delhi's Bijwasan Road, TARC Tripundra has easy access to the lndira Gandhi lnternational Airport, Cyber City and Aerocity. The gated community project with various luxurious amenities has sales potential of around Rs 900 crore, with approximately 5 lakh square feet of saleable area.
Amar Sarin, MD & CEO, TARC, said, "The promising growth of Delhi has transformed it into a buzzing metropolis, offering multiple opportunities in an ever-evolving real estate sector.
Given the stiff economic headwinds the world is experiencing, we are pleased that our launch elicited on extremely positive response from homebuyers and we have closed 2022 on o high note with our sale price appreciating by almost 25%.
TARC engaged in a premium real estate developer with one of the largest land banks and key land parcels at prime locations in Delhi and the National Capital Region covering residential, hospitality, commercial, retail, warehousing, lT, institutional and mixed-use developments. TARC has augmented its brand equity after recent collaborations with Bain Capital, USA and Blackstone lnc.
The company's consolidated net profit jumped 54.15% to Rs 8.17 crore on a 73.92% rise in sales to Rs 41.67 crore in Q2 FY23 over Q2 FY22.
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