Tarc Limited prepays NCDs worth Rs66 crore; stock gains ~1%

13 Dec 2022 , 01:31 PM

Tarc Limited, a leading premium real estate developer based in New Delhi, has voluntarily prepaid its NCD obligations to the tune of Rs65.35 crore ahead of schedule.

Tarc has developed a strong financial profile in the last year, generating surplus cash through consistent new sales bookings, monetising non-core assets, and government receivables, and utilising the funds for project development and balance sheet strengthening.

On April 29, this year, BAIN Capital USA invested Rs1,330 crore in NCDs. Notably, the transaction is the largest in North America and one of the most significant investments made in the burgeoning real estate market for expansion and development.

Tarc’s affiliation with Bain Capital has elevated it to the elite league of select real estate developers in India. Their trust in us has enhanced our company’s ethical values throughout the business community, commented Amar Sarin, MD & CEO of Tarc Limited.

Following this development, Tarc Limited was trading 1.10% higher at Rs45.85, against previous close of Rs45.35 on NSE. The counter hit intraday high and low of Rs46.30 and Rs45.15 respectively.

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