Delhi-based TARC Ltd is expecting to generate around ₹4,500 crore in revenue from its ongoing ultra-luxury residential project, ‘TARC Kailasa’, in Kirti Nagar, as strong demand and tight supply continue to buoy the capital’s premium housing market.

Spread across six acres, the project will comprise 17 lakh square feet of development and is being built at an estimated cost of ₹1,500 crore (excluding land cost). The company has already sold around 275 units across four towers and has now launched a fifth tower with 110 apartments priced between ₹11 crore and ₹14 crore each, PTI reported.

TARC MD and CEO Amar Sarin said the total investment would be around ₹1,500 crore, excluding land cost.

“The construction work is undergoing. We have already invested around ₹250 crore on this project,” he added.

The construction cost would be met through internal accruals.

“We are expecting a total revenue of ₹4,500 crore from this project,” Sarin said.

The project is expected to be completed in March 2030. TARC Ltd is developing this project after demolishing a shopping mall on this land parcel. On the overall company’s performance this fiscal, Sarin said the company has achieved a sales bookings of ₹1,000 crore in the first nine months of this fiscal and expressed confidence that the number would reach ₹2,500 crore for the full financial year.

Sarin said the launch pipeline for the next financial year is strong.

TARC Ltd has a huge land bank in Delhi-NCR property market and it would gradually launch projects to monetise the value.