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TARC Ltd is on track to generate INR 4,500 crore from its ultra-luxury residential project, TARC Kailasa, in Delhi, reflecting strong market demand and limited housing supply. Launched in 2024, the project spans six acres in Kirti Nagar and includes five towers with 385 units priced between INR 11 crore and INR 14 crore. The company has invested INR 250 crore so far, and construction costs will be met internally. Expected completion is March 2030. TARC also plans gradual launches of other projects from its substantial Delhi-NCR land bank.
TARC Ltd, a listed real estate firm, is anticipating total revenue of around INR 4,500 crore from its ongoing ultra-luxury housing project in Delhi, driven by strong buyer demand and limited supply, according to the company's top official. Advertisement
The Delhi-based firm had launched the super-luxury residential project, TARC Kailasa, in 2024. The development is spread over six acres in Kirti Nagar. So far, around 275 units across four towers have been sold, and the company has now introduced a fifth tower with 110 units for sale. The apartments in the new tower are priced between INR 11 crore and INR 14 crore per unit.
The project is set to cover a total area of 1.7 million square feet. The overall investment is estimated at INR 1,500 crore, excluding the cost of land. The company has already invested approximately INR 250 crore, with the construction being funded through internal accruals. The project is expected to be completed by March 2030.
This development follows the demolition of a shopping mall on the same land parcel. Speaking on the company's overall performance for the current fiscal year, TARC's MD and CEO, Amar Sarin, stated that sales bookings have reached INR 1,000 crore in the first nine months, with projections indicating they will touch INR 2,500 crore by the end of the financial year.
Looking ahead, TARC Ltd plans to maintain a strong launch pipeline for the next fiscal year. The company holds a significant land bank in the Delhi-NCR region and intends to gradually launch projects to unlock the value of these assets. Sarin also noted that the company is actively exploring acquisitions of new land parcels through both outright purchases and joint development agreements with landowners.
Source PTI
FAQ
1. What is the TARC Kailasa project?
TARC Kailasa is an ultra-luxury residential project launched by TARC Ltd in 2024. It is located in Kirti Nagar, Delhi, and spans six acres with a total area of 1.7 million square feet. The development features five towers with 385 high-end apartments priced between INR 11 crore and INR 14 crore per unit.
2. What revenue is TARC Ltd expecting from this project?
The company anticipates generating around INR 4,500 crore from the TARC Kailasa project. Strong buyer demand for luxury homes and limited supply in the Delhi market are driving these revenue expectations.
3. How many units have been sold so far?
Approximately 275 units across the first four towers have already been sold. A fifth tower with 110 units has been launched, expanding the project's offerings to meet ongoing demand.
4. What is the investment and funding plan for the project?
The total investment for the project is estimated at INR 1,500 crore, excluding the cost of land. TARC Ltd has invested around INR 250 crore so far, with construction being funded through the company's internal accruals.
5. When is the project expected to be completed?
TARC Kailasa is expected to be fully completed by March 2030, with sales and construction progressing in phases to ensure timely delivery of ultra-luxury units.
6. How has TARC Ltd performed in sales bookings this fiscal year?
According to the company's MD and CEO, Amar Sarin, TARC Ltd has achieved INR 1,000 crore in sales bookings in the first nine months of the current fiscal. Projections indicate that sales bookings may reach INR 2,500 crore by the end of the financial year.
7. What are TARC Ltd's future plans in Delhi-NCR?
TARC Ltd plans to maintain a robust launch pipeline for upcoming fiscal years, gradually unlocking the value of its substantial land bank in Delhi-NCR. The company is also exploring new land acquisitions through both outright purchases and joint development agreements with landowners.
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