Realty major TARC will aim to strengthen its presence in established Delhi and Gurugram markets, with several phase-wise expansions planned in its existing projects in the financial year 2026–27.
“The focus for FY27 is on strengthening our presence in Delhi and select National Capital Territory (NCR) micro-markets, where we understand the buyer profile deeply,” Amar Sarin, chief executive officer (CEO) and managing director of TARC, told Business Standard.
Sarin said the approach will be to build momentum across developments that are already established rather than expanding indiscriminately.
The NCR-based luxury developer currently has three ongoing projects with a gross development potential worth ₹9,000 crore. These include Tripundra and Kailasa (in Delhi) and Ishva (in Gurugram).
While the handover process for Tripundra is expected to commence soon, Sarin said that TARC will introduce a new tower at its Gurugram-based Ishva project, alongside progress at its Kailasa luxury residential project in line with construction milestones and approvals.
“TARC Ishva’s second phase launch is planned within Q4 FY26. The total project sales potential has increased to approximately ₹3,600 crore, representing a 33 per cent enhancement,” the firm had announced in its post-results statement.
TARC added in its investor presentation that one of the five luxury towers in Kailasa is being introduced for sale, receiving encouraging market response.
Sarin added that the estimated revenue potential from this development is projected to exceed ₹4,000 crore, subject to final pricing and absorption.
“Given the sustained momentum in the luxury and ultra-luxury segment, particularly in well-connected West Delhi, we remain confident of strong demand, supported by the consistent price appreciation witnessed since launch (January 2024),” he said.
The company added that it has visibility on cash flows and inventory monetisation totalling approximately ₹7,500 crore over the next four years, with new launches expected to contribute a similar potential sales value.
The firm reported a 267 per cent rise in revenue from operations for the December quarter (Q3) of FY26 at ₹34.37 crore, up from ₹9 crore recorded in Q3FY25. Similarly, its net loss attributable to equity holders narrowed to ₹21.02 crore in the December quarter from ₹28.67 crore in Q3 last year.
Commenting on expansion plans, Sarin said that while Delhi and Gurugram remain the firm’s priority, it will remain open to evaluating opportunities in markets like Noida, subject to careful assessment.
With infrastructure developments such as the upcoming Jewar International Airport expected to influence the next phase of NCR’s growth, several developers have already started migrating towards the new airport for residential and commercial projects.
However, Sarin said that while Noida remains an option, land quality, the surrounding ecosystem, buyer segment alignment and long-term sustainability will be TARC's key filters.
“We are looking at growth that is steady, demand-backed, and aligned with our larger vision of building long-term value,” he added.
On whether TARC will look at taking over distressed or stalled projects as a revenue generator, Sarin said that while insolvency-stuck developments may present entry opportunities, they often involve layered legal, financial and reputational complexities that require rigorous evaluation.
“If a stressed asset meets strict due diligence benchmarks, including clean legal restructuring, strategic location, financial viability, and alignment with our luxury positioning, it may be evaluated selectively,” he added.
 "Realty major TARC eyes phased launches in Delhi, Gurugram markets in FY27")
