TARC Limited - New Delhi based leading premium real estate developer has voluntarily prepaid, before the appointed time, its obligations towards NCDs to the extent of Rs 66.36 Crores.
TARC Limited, over the last one year, has gained a strong financial profile with surplus cash generation through consistent new sales bookings, monetisation of non-core assets and Government receivables and utilized the funds for project development and strengthening the balance sheet.
BAIN Capital USA invested by way of NCDs Rs 1,330 Crore on 29th April this year. Notably, the transaction is the largest in North India and one of the most significant investments made for expansion and development in the burgeoning real estate market.
Amar Sarin, MD & CEO, TARC Limited while being appreciative of the trust and confidence reposed by Bain Capital in the Company expressed, "We take great pride in sharing that TARC demonstrated steady performance during the current financial year. The Company has achieved another milestone while completing the voluntarily pre-payment of Rs 66 crores which is a testament to the growth trajectory of the Indian real estate sector and together we are working towards building a strong and sustainable business. The association with Bain Capital has made TARC a part of the superior league of select real estate developers in India. Their confidence in us has enriched the ethical values of our Company in the entire business fraternity."
TARC Ltd. (NSE: TARC. BSE: 543249) is a leading 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. The leadership at TARC has spent the past four decades creating and building multiple projects across New Delhi-NCR through diverse verticals of residential, hospitality, commercial and retail with the mission of transforming urban living by curating future-ready, high-quality developments. TARC has augmented its brand equity after recent collaborations with Bain Capital, USA and Blackstone Inc.
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( With inputs from ANI )
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