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Parsvnath Developers Limited reports total revenue at Rs. 23 Crores

Posted On: 2019-02-15 15:18:29

Parsvnath Developers Ltd., one of India's leading Real Estate and Infrastructure Development Companies today reported revenue (including other income) of Rs. 23 Cr. for the Quarter ended December 31, 2018. Loss after tax was at Rs. 28 Cr. for Quarter ended December 31, 2018.

Highlights in Q3 FY2019

- During Q3FY2019, the Company offered possession/fit-outs of over 195 units with an area of 3.22 lac sq. ft. (29,887 sq. mt.)

- During Q3FY2019, new sales booked for an area of 1.75 lac. sq. ft. (16,281 sq. mtr.)

- An area of around 1,15,000 sft has been leased out at our Akshardham Mall, out of which 55,000 sft has been leased out during this quarter to a Thailand based multinational giant 'LOTS' (CP Wholesale India Pvt. Ltd.). We have also added up to our tally with the presence of QVC (Qatar Visa Centre) including Stemz Radiology Pvt. Ltd., & Biomet Visa Pvt. Ltd. with more than 10,400 sq. sft.

The Akshardham Mall also earmarks the presence of operational brands such as Haldiram's, Miniso, Godfrey Phillip (24 X 7), Maruti Nexa, Tata Motors, Reebok, Adidas, Cafe Coffee, Bata India, Market 99 etc.

Commenting on the performance for Q3FY2019, Mr. Pradeep Jain, Founder Chairman, Parsvnath Group, said "The health of Real Estate is now showing constructive signs of revival which will have positive effects on the sales of the Company.

With the mission completion in mind, the Company is taking progressive steps towards consolidating and delivering pending projects and handing over properties to the customers.

We are soon expecting OC for our latest Projects - 27 KG MARG & PARSVNATH CAPITAL TOWER BVSM - Phase II."

- Founder Chairman - PDL has been conferred with 'PHD Annual Awards for Excellence - 2018' at the 113th Annual Session of PHD Chamber of Commerce & Industry on his completion of 15 years in the PHD Managing Committee.

Shares of PARSVNATH DEVELOPERS LTD. was last trading in BSE at Rs.5.42 as compared to the previous close of Rs. 5.36. The total number of shares traded during the day was 7745 in over 66 trades.

The stock hit an intraday high of Rs. 5.48 and intraday low of 5.16. The net turnover during the day was Rs. 41775.

Source: Equity Bulls

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