TARC Limited, New Delhi's leading luxury residential real estate developer, has reported strong financial performance for Q3 FY26, demonstrating continued momentum across its project portfolio. The company achieved significant delivery milestones while maintaining healthy sales traction and collections during the quarter ended December 31, 2025.

Financial Performance Highlights

The company's financial metrics for Q3 FY26 and nine-month period showcase robust operational execution:

TARC's liquidity position remains robust, supported by consistent collections, advancing construction milestones and increasing monetisation of inventory. The performance reflects the strength of TARC's operating model and its ability to translate demand into execution.

Major Project Developments

The company achieved significant progress across its key developments during the quarter:

TARC Tripundra, South Delhi

The boutique luxury development reached a crucial milestone with receipt of the occupation certificate. Customer intimations for possessions have commenced and formal handovers are set to begin shortly. This milestone enables revenue recognition and unlocking of cash flows for the project.

TARC Kailasa, West Delhi

The project is ready with new sample apartments and sales gallery, offering customers a tangible preview of the development's scale, finishes and lifestyle proposition. The company is launching the most premium tower within the development, enabling sales and enhanced value realisation.

TARC Ishva, Gurugram

The four-side-open luxury development remains largely sold, demonstrating strong end-user demand. Construction continues to progress and the company has received all statutory approvals for the next phase, with sales expected to start within the current quarter.

Management Commentary

Mr. Amar Sarin, Managing Director & CEO of TARC Limited, commented on the company's progress: "With our ongoing development reflecting strong progress across all dimensions of the business, we are now actively shaping our next set of developments under a clearly defined long-term vision. These developments are being thoughtfully curated and meticulously planned, reinforcing our confidence as we enter the next chapter of luxury living."

Business Outlook

TARC Limited continues to strengthen its position in the luxury housing market through a delivery-led phase of growth, supported by disciplined execution, improving cash-flow visibility and a growing pipeline of future developments under planning. The company's focus remains on developing luxurious residential projects in New Delhi and Gurugram, maintaining its commitment to delivering exceptional quality to discerning clientele.

TARC Limited has received an addendum to its RERA registration for the TARC ISHVA luxury group housing project, expanding the development area in Gurugram. The company announced this regulatory approval on January 12, 2026, highlighting the significant expansion of its flagship project.

Project Expansion Details

The Haryana Real Estate Regulatory Authority, Gurugram has issued an addendum to the existing Registration Certificate No. RC/REP/HARERA/GGM/865/597/2024/92, originally dated September 4, 2024. This addendum increases the total development area for TARC ISHVA from the earlier 6.95 acres to 9.1405 acres, representing a substantial expansion of approximately 2.19 acres.

Regulatory Compliance and Impact

The approval enables TARC Limited to sell, transfer, and advertise the TARC ISHVA project in compliance with RERA regulations. According to the company's disclosure under Regulation 30 of SEBI Listing Regulations, this regulatory approval is expected to strengthen the brand value and positively impact the company's financial performance.

Business Implications

The expanded development area provides TARC Limited with increased scope for its luxury group housing project in the prime Gurugram location. The RERA registration addendum ensures regulatory compliance for the enlarged project scope, allowing the company to proceed with marketing and sales activities for the additional area.

The registration certificate remains valid until December 31, 2031, providing the company with a clear timeline for project development and completion. This regulatory milestone follows the company's earlier communication from September 4, 2024, when the original RERA registration was obtained for the project.