Stock Report

TARC Limited continues Pre-Payment of NCDs

Posted On : 2023-06-02 11:26:04( TIMEZONE : IST )

TARC Limited continues Pre-Payment of NCDs

TARC Limited, leading New Delhi based luxury real estate developer announced another pre-payment of its NCD commitments. Clearly, this is a testament to the Company's notable growth in sales performance and consistent and healthy cash flow. This proactive measure reflects the Company's commitment to financial discipline and capitalizing on opportunities for sustainable growth.

TARC Limited has made a payment of RS. 87.95 crores on June 1, 2023, out of which Rs.56.90 crores has been towards partial redemption of unlisted NCDs. With the prepayment made in last financial year 2022-23, the Company has fulfilled the payment obligation of Rs. 100 crores much before the due date of June 30, 2023.

Commenting on the development, Amar Sarin, MD & CEO of TARC Limited, said, "The advantages of this pre-payment are twofold for TARC. Firstly, it enhances investor confidence, showcasing proactive debt management and financial stability, reinforcing our credibility, and positively impacting investor sentiment. Secondly, it adds operptional flexibility, enabling us to pursue growth opportunities, adapt to changing market conditions, and generate cost savings through lower interest expenses, thereby positively impacting our financial performance. This pre-payment generates significant impetus to enhance TARC's credit rating and greater financial flexibility in the future."

Highlighting benefits of the early debt repayments, Amar Sarin further emphasized, "Our notable sales achievements have strengthened our financial position, which has been made possible by our exceptional sales and collection efforts, and successful project execution demonstrates the Company's proactive approach. Looking ahead, we aim to continue this momentum, targeting major repayment towards retirement of NCDs in the next couple of years, further strengthening our financial position."

Source : Equity Bulls


TARC Prepayment NCDs DebtReduction