In December 2022, the company had prepaid Rs 66.36 crore.
Last year, BAIN Capital, USA had invested by way of NCDs Rs 1,330 crore in one of the largest transaction in North India. The funding was done for expansion and development in the real estate market.
With the prepayment made in last financial year 2022-23, the company has fulfilled the payment obligation of Rs 100 crore before the due date of June 30, 2023.
“This pre-payment enhances investor confidence in TARC as it showcase proactive debt management and financial stability. It also adds operational flexibility, enabling us to pursue growth opportunities, adapt to changing market conditions, and generate cost savings through lower interest expenses, thereby positively impacting our financial performance,” said Amar Sarin, MD & CEO of TARC Limited.
The company is looking to triple its revenue in this financial year to Rs 1,500 crore on the back of robust demand for luxury residential projects. The company achieved project sales value of Rs 520 crore in 2022-23 and has planned two launches in central Delhi and Gurgaon this year.
