Parsvnath Developers Ltd enters into agreement for high-end shopping mall at DMRC land

Delhi Metro Rail Corporation Limited ('DMRC') had granted to Parsvnath Developers Limited ('the Company'), the concession rights for the construction, development, management, operation and maintenance of a high end Shopping Mall ('Project') on land admeasuring 28,400 sq. mtrs., having a potential of 4,00,000 sq. ft. (approx.) leasable area, on BOT basis, situated at Netaji Subhash Place, Near Netaji Subhash Place Metro Station, Opposite Wazirpur District Center, Pitampura, New Delhi-110034.

The Company has into Limited Liability Partnership Agreement dated November 18, 2021 with Unity Buildwell Limited for undertaking the development of the aforesaid Project through a Special Purpose Entity viz. 'Unity Parsvnaths LLP' incorporated for the same.

The construction and development work at the Project site has commenced after obtaining all the requisite sanctions and approvals in respect of the Project, including the approval of DMRC for development of the Project by Unity Parsvnaths LLP.

Shares of Parsvnath Developers Limited was last trading in BSE at Rs. 16.80 as compared to the previous close of Rs. 17.53. The total number of shares traded during the day was 73072 in over 361 trades.

The stock hit an intraday high of Rs. 17.92 and intraday low of 16.68. The net turnover during the day was Rs. 1243937.00.

Source : Equity Bulls

Keywords

ParsvnathDevelopersLimited INE561H01026 Agreement UnityBuildwell HighEndShoppingMall