TARC Limited – Investor Presentation Summary

Key Operational Highlights

  • Total Presales in H1FY27 stood at ₹955 crore across ongoing developments.
  • Total Collections in H1FY27 were ₹462 crore, supporting construction pace.
  • Key drivers include strong customer demand and confidence in TARC's differentiated luxury offerings, with pricing traction supported by product quality and distinctive positioning.

Financial Highlights

Q2 FY2027 (Consolidated)

  • Revenue: ₹128.81 crore
  • Other Income: ₹5.26 crore
  • Total Income: ₹134.07 crore
  • EBITDA: ₹2.80 crore
  • EBITDA Margin: 2.09%
  • PAT: ₹4.39 crore (Reported)

H1 FY2027 (Consolidated)

  • Revenue: ₹345.94 crore
  • Other Income: ₹6.84 crore
  • Total Income: ₹352.78 crore
  • EBITDA: ₹44.57 crore
  • EBITDA Margin: 12.63%
  • PAT: ₹27.04 crore (Reported)

YoY Comparison (Q2)

  • Total Income increased to ₹134.07 crore from ₹34.10 crore in Q2 FY2026.
  • PAT was a profit of ₹4.05 crore, compared to a loss of ₹15.63 crore in Q2 FY2026.

Drivers of financial performance: Meaningful strengthening of financial and operational performance, with TARC Tripundra progressing through the revenue recognition phase.

Key Risks: General market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with the company, legislative developments.

Key Development Highlights

| Residential Developments | Super Builtup Area (Sqft) | Units | GDV (₹ Cr) | Presales in H1FY27 (₹ Cr) | Collections in H1FY27 (₹ Cr) |

| Tripundra | ~5,00,000 | 187 | 1,000 | 33 | 83 |

| Kailasa | ~1,700,000 | 417 | 4,400 | 428 | 168 |

| Ishva | ~1,700,000 | 480 | 3,600 | 494 | 211 |

| Total | | | 9,000 | 955 | 462 |

Balance Sheet Snapshot

Not Specified

Capex & Cash Flow Health

  • The company projects to generate ~₹10,000 crores of cashflows over the next 5 years.

Strategic & R&D Initiatives

  • The company is advancing towards the introduction of its next generation of Luxury and ultra-Luxury residential developments, supported by collaborations with internationally acclaimed architects, designers, and consultants.
  • Expected impact on growth: The upcoming pipeline is expected to contribute significantly to future revenue, with revenue recognition for Kailasa & Ishva (~₹8,000 crore GDV) projected to begin in FY2029 & FY2030.
  • Strategic Rationale: Focus on accelerating project execution, strengthening financial performance, unlocking value from the development portfolio, and bringing upcoming projects to market. The ultra-luxury segment benefits from strong realizations, healthy margins, calibrated monetization, and robust cashflow visibility.

Industry Trends & Business Environment

Macro/Industry Trends: Delhi's urban core is a supply-constrained market with limited availability of large developable land parcels and high entry barriers. There is sustained price appreciation and the ultra-luxury segment remains significantly underserved despite rising demand.

Impact on Company: These trends support TARC's strategy, creating an attractive long-term business model for its luxury-led developments. The company benefits from strong demand from HNIs, business families, senior professionals, and NRIs.

Management Commentary & Growth Outlook

Strategic Outlook: "H1 FY2027 marks an important phase in TARC's growth journey, reflecting a meaningful strengthening of our financial and operational performance... Our priorities remain centred on accelerating project execution, strengthening financial performance, unlocking value from our development portfolio and bringing our upcoming projects to market." - Amar Sarin, Managing Director & CEO.

FY Guidance:

  • FY 2026-27: Revenue Recognition of TARC Tripundra of over ~₹1,000 crore; Scale up new launches; Debt Reduction.
  • FY2027-28: Improved Cashflows; Cash Positive; New Investments in JDA/JV and Land.
  • FY2029 & 30: Revenue Recognition begins for Kailasa & Ishva of ~₹8,000 crore.
  • FY2031 & 32: Additional Revenue Recognition for Upcoming Developments.

Risks and Opportunities: The company highlights risks from market, macroeconomic, and regulatory factors. Opportunities lie in the underserved ultra-luxury segment and supply-constrained prime micro-markets of Delhi.

ESG Updates

Environment: Committed to a strategy for Carbon Neutrality and Net Zero developments. Concluding an ESG framework. TARC Kailasa has an IGBC Platinum rating. TARC Ishva has IGBC Platinum Pre-certification. TARC Tripundra has IGBC Gold Pre-certification. Committed to a 100% Green certified residential portfolio and a No Single-Use Plastic Policy.

Social: Committed to community development initiatives, educational support for children of employees, and exploring alternate energy resources.

Governance: Committed to growing ethically with transparency and accountability. Working towards finalizing a Risk Management Framework and robust policies.