Date: May 29, 2026

Financial Performance Overview

TARC Limited announced financial results for the quarter and year ended March 31, 2026. FY2026 marked an important year of operational progress and delivery milestones for the Company, supported by sustained sales momentum, strong business cashflows and continued expansion of the luxury development pipeline.

Annual Financial Highlights (Consolidated Basis)

  • Total Income for FY2026 stood at ₹671.78 crore
  • This represents significant YoY growth from ₹138.89 crore in FY2025
  • EBITDA for FY2026 stood at ₹77.51 crore
  • EBITDA showed substantial improvement from negative EBITDA of ₹127.77 crore in FY2025
  • Profit After Tax for FY2026 was ₹19.03 crore
  • This represents a remarkable turnaround from net loss of ₹231.29 crore in FY2025

Quarterly Financial Highlights (Consolidated Basis)

  • Total Income for Q4 FY2026 stood at ₹300.02 crore
  • This represents YoY growth from ₹113.89 crore in Q4 FY2025
  • This represents QoQ growth from ₹242.30 crore in Q3 FY2026

Operational Highlights

TARC Tripundra Project

  • Commencement of customer handovers at TARC Tripundra marked a significant milestone
  • Project was launched in FY2023 and achieved successful delivery within timelines
  • Has evolved into a benchmark boutique luxury development in the Capital
  • Total Gross Development Value of approximately ₹1,000 crore
  • Revenue recognition commenced during the quarter
  • Project level gross margin of ~45% to flow through progressively into consolidated financials

TARC Kailasa Project

  • Witnessed strong customer engagement following launch of premium inventory
  • Operationalisation of new Experience Centre and Sample Residence
  • Total project gross development value now stands at approximately ₹4,400 crore

TARC Ishva Project

  • Expanded development footprint through unveiling of 'Ishvara', the sixth and tallest tower
  • Total project gross development value increased to approximately ₹3,600 crore

Development Pipeline

  • Design finalisation is progressing across a sizeable pipeline of ultra-luxury developments

Management Commentary

Mr. Amar Sarin, Managing Director & CEO, TARC Limited, commented:

"The commencement of revenue recognition at TARC Tripundra during Q4 FY2026 marks a key inflection point, strengthening profitability and financial performance visibility. FY2026 Consolidated revenue stood at ₹671.78 crore, with PAT of ₹19.03 crore and healthy project level gross margin of ~45% at Tripundra is testament of our strategy of leveraging historical land bank, luxury positioning and value-accretive development approach. Looking ahead, we remain focused on disciplined execution, phased launches and expansion of our luxury and ultra-luxury pipeline."

Outlook

The luxury residential market in Delhi and Gurugram continues to exhibit strong structural demand, supported by:

  • Constrained supply of high-quality developments
  • Increasing preference for amenity-led community living
  • Growing buyer inclination toward trusted and institutional developers

Despite global headwinds, India's long-term economic growth outlook remains positive, supported by:

  • Infrastructure investments
  • Rising wealth creation
  • Increasing global economic integration

These factors continue to strengthen demand for differentiated luxury residential developments. The Company remains focused on:

  • Design-led development
  • Prudent capital allocation
  • Strategic expansion of luxury portfolio across Delhi and Gurugram

Company Background

TARC Limited (NSE: TARC, BSE: 543249) is headquartered in New Delhi and stands at the forefront of Luxury Real Estate Development. The Company is focused on the development of luxurious residential developments in New Delhi and Gurugram. The company is backed by a robust portfolio of prime land parcels and strategic financial collaborations.

Forward-Looking Statements Disclosure

The document contains forward-looking statements concerning TARC's future business prospects and business profitability, which are subject to risks and uncertainties including but not limited to:

  • Earnings fluctuations
  • Ability to manage growth
  • Competition
  • Economic growth in India
  • Ability to attract & retain highly skilled professionals
  • Time & cost overruns on contracts
  • Government policies and actions related to investments, regulation & policies
  • Interest & other fiscal policies generally prevailing in the economy

The Company does not undertake to make any announcements in case any of these forward-looking statements become incorrect in future or update any forward-looking statements made from time to time.