Parsvnath Developers announces Q2 FY2013 results
New Delhi, November 08, 2012

PBT at Rs 28 Crore and Revenue at Rs 150 Crore

Parsvnath Developers Limited (PDL), India's leading real estate and integrated infrastructure developer having a diversified portfolio registered operating revenue of Rs 150 Cr and Profit before Tax of Rs 28 Cr in second quarter ended on September 30, 2012. EBIDTA stood at Rs 98 Cr and EBIDTA margins stood at 65% for the same period.

All figures in the press release are consolidated in Rs crore unless stated otherwise

Particulars Q2 FY13 Q1FY13 Q2FY12
Operating Revenue 150 163 253
EBIDTA 98 115 135
EBIDTA margins 65% 71% 53%
PBT 28 34 57
TAX 10 13 23
PAT 18 21 34
PAT (after Minority Interest) 18 20 29

Operation / Business Highlights

  • As a strategy for accelerated possession offering, company is concentrating on faster execution.
  • Have sold 226 units, comprising an area of 4,15,600 sq. ft.
  • Handed over possession of 446 units, comprising an area of 8,43,596 sq. ft.
  • In line with PDL's strategy to reduce debt, the company has continued a strategic and comprehensive portfolio review of its real estate assets, with a view to exit the non strategic assets & monetized few of our projects.

Commenting on the performance, strategy followed and future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Developers Limited, said,

The last quarter has been full of positive news. Some of the recent announcements by the Government is likely to improve the investment climate in the country, which in turn will have a positive impact on the Real Estate industry.

  • With the Government's policy of accelerating the reforms, the global investors are showing interest in the Indian market.
  • Approval of FDI in retail will give boost to the retail spaces. Specifically our DMRC properties situated at various locations of Delhi will attract the tenants.
  • The recent reduction of Home loans by Banks, will give boost to the residential sale.
  • Reduction in CRR rate twice by RBI have brought liquidity in the banking system.

Overview of Parsvnath Developers Limited:-
With more than 2 decades of experience in real estate industry in all verticals, having completed 47 projects. PDL is currently working on 50 projects with a total area of 77 mn sq ft. The company's business portfolio includes Residential, Commercial (office and retail), DMRC Projects, Hotels, SEZs, IT Parks, third party construction. More information about the company is available onwww.parsvnath.com

For more details, please contact:

Mr. Ramesh Kaushal
Addl. General Manager - Corporate
Parsvnath Developers Ltd.
New Delhi
Telephone: 011-43050192
E-mail: ramesh_kaushal@parsvnath.com

Forward-Looking Statements:- This report contains forward -looking statements, which may be identified by their use of words like 'plans', 'expects', 'will', 'anticipates', 'believes', 'intends', 'projects', 'estimates' or other words of similar meaning. All statements that address expectations or projections about the future, including but not limited to statements about the company's strategy for growth, market position, expenditures, and financial results, are forward -looking statements. Forward-looking statements are based on certain assumptions and expectations of future events. The company cannot guarantee that these assumptions and expectations are accurate or will be realized. The company's actual results, performance or achievements could thus differ materially from those projected in any such forward - looking statements. The company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events.



distributed by