TARC Limited – Investor Presentation Summary

Key Operational Highlights

  • Pre-Sales booking of ₹1,373 crore in FY2026.
  • Recorded highest-ever business cashflows of ₹1,132 crore in FY2026, more than 2x of the previous financial year.
  • Commenced customer handovers at TARC Tripundra in Q4 FY2026.
  • Launched 'Ishvara' at TARC Ishva, expanding development footprint to 1.7 million sqft.
  • Key drivers: Disciplined inventory monetisation, strong pricing traction, and calibrated launches.

Segment-wise Performance

Performance is detailed by project:

  • TARC Tripundra: GDV ~₹1,000 crore. Collections in FY26: ₹266 crore.
  • TARC Kailasa: GDV ~₹4,400 crore. Pre-sales in FY26: ₹521 crore. Collections in FY26: ₹122 crore.
  • TARC Ishva: GDV ~₹3,600 crore. Pre-sales in FY26: ₹852 crore. Collections in FY26: ₹411 crore.
  • Total Portfolio GDV: ~₹9,000 crores.

Financial Highlights

  • Revenue: ₹329.84 crore (FY2025-26).
  • Other Income: ₹341.94 crore (FY2025-26).
  • Total Income: ₹671.78 crore (FY2025-26), up significantly from ₹38.89 crore (FY2024-25).
  • EBITDA: ₹77.51 crore (FY2025-26), a turnaround from negative EBITDA of ₹(127.77) crore (FY2024-25).
  • PAT: ₹19.03 crore (FY2025-26), compared to a net loss of ₹(231.29) crore (FY2024-25).
  • EPS: Not Specified.
  • Margins: EBITDA Margin of 11.54% (FY2025-26). Project level embedded gross margin at Tripundra is ~45%.
  • Q4 FY26 Performance: Total Income of ₹300.02 crore; PAT of ₹1.61 crore.
  • Drivers: Revenue recognition from TARC Tripundra and strong operational performance.
  • Key Risks: Not explicitly detailed beyond general forward-looking statement disclaimers.

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not Specified.

Balance Sheet Snapshot

  • Net Debt/Equity: Company targets to become Net Debt Zero.
  • Reserves: Not Specified.
  • Current Assets/Liabilities: Not Specified.
  • Working Capital/Leverage Metrics: Not Specified.
  • Financial Health Insights: Cashflows expected to expedite debt reduction plan.

Capex & Cash Flow Health

  • Capital Expenditure: Not Specified.
  • Free Cash Flow: Not Specified.
  • Operating Cash Flow: Not Specified.
  • Net Debt Movement: Not Specified.
  • Investment Rationale: Focus on luxury and ultra-luxury pipeline expansion on owned land parcels.

Strategic & R&D Initiatives

  • Investments in Innovation: Focus on design-led architecture, signature amenities, and hospitality-led luxury living.
  • Advanced design finalisation across significant upcoming pipeline of luxury and ultra-luxury developments.
  • Strategic Rationale: Leveraging historical land bank, luxury positioning, and value-accretive development approach in supply-constrained markets like Delhi.

Industry Trends & Business Environment

  • Macro/Industry Trends: Delhi's urban core is a supply-constrained market with high barriers to entry and sustained price appreciation. Strong HNI & NRI demand base.
  • Impact on Company: Supports the company's strategy of focused growth in the luxury segment with strong realizations and healthy margins.

Management Commentary & Growth Outlook

  • Strategic Outlook: "Looking ahead, we remain focused on disciplined execution, phased launches and expansion of our luxury and ultra-luxury pipeline." - Amar Sarin, Managing Director & CEO.
  • FY Guidance: Company envisages that cash inflows from ongoing and upcoming projects to increase substantially year on year.
  • Market Share Targets: Not Specified.
  • Risks and Opportunities: General risks include market, macro-economic, governmental and regulatory trends, competitive pressures, and technological developments.

ESG Updates

  • Environment: Committed to Carbon Neutrality and Net Zero developments. IGBC Platinum Pre-certification for TARC ISHVA. IGBC Gold Pre-certification for TARC Tripundra. Approaching IGBC Platinum for TARC Kailasa. 100% Green certified residential portfolio goal.
  • Social: TARC Shakti women's community, energy conservation campaigns, blood donation drives, and community outreach initiatives.
  • Governance: Working on finalizing Risk Management Framework and robust policies with a focus on transparency and accountability.