Realty developer TARC prepays NCD of Rs 66 crore

Realty developer TARC Ltd has prepaid Rs 66.36 crore towards NCDs. Earlier this year, BAIN Capital, USA had invested by way of NCDs Rs 1,330 crore in one of the largest transaction in North India. The funding was done for expansion and development in the real estate market.

TARC Limited, over the last one year, has gained a strong financial profile with surplus cash generation through new sales bookings, monetisation of non-core assets and government receivables and utilized the funds for project development and strengthening the balance sheet.

“We have achieved another milestone while completing the voluntarily pre-payment of Rs 66 crore which is a testament to the growth trajectory of the Indian real estate sector and together we are working towards building a strong and sustainable business,” said Amar Sarin, MD & CEO, TARC Limited.