“We have sold approximately 275 units across four towers and are now launching a fifth tower with 110 units for sale,” said TARC MD and CEO Amar Sarin.The company will sell apartments in the price range of Rs 11-14 crore per unit in the newly launched tower.
Sarin said the company would develop an area of 17 million square meters in this project.
When asked about the project cost, Sarin said the total investment would be around Rs 1,500 crore, excluding land costs.
“Construction work is underway. We have already invested around Rs 250 crore in this project,” he added. Construction costs would be covered by internal provisions.
“We expect a total turnover of Rs 4,500 crore from this project,” Sarin said.
The project is expected to be completed in March 2030. TARC Ltd is developing this project following the demolition of a shopping center on this plot. On the company’s overall performance this fiscal, Sarin said that the company has achieved a sales booking of Rs 1,000 crore in the first nine months of this fiscal and expressed confidence that this number would reach Rs 2,500 crore for the entire financial year.
Sarin said the launch pipeline for the next financial year is strong.
TARC Ltd has a huge land bank in the Delhi-NCR real estate market and would gradually launch projects to monetize the value.
Sarin said the company is looking to acquire more plots through both direct and joint development agreements with landowners.
#TARC #expects #revenue #luxury #housing #project #Delhi