Parsvnath Developers : RBI keeps Repo Rate and CRR unchanged

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Press Release

For immediate Publication

RBI keeps Repo Rate and CRR unchanged

New Delhi, February 02, 2016: The Reserve Bank of India in its first Bi-monthly monetary policy meeting of 2016 maintained status quo on key policy rates. The repo rate remained unchanged at 6.75% and CRR remained unchanged at 4%.

Commenting on the Monetary Policy, Mr. Pradeep Jain, Chairman, Parsvnath Developers Limited said, "Given the prevailing high cost of funds, weak demand, lower purchasing power of consumers and the overall negative sentiment hovering over the real estate sector it was expected that RBI would reduce the key repo rate by 25 basis points in order to infuse liquidity in the market and to provide a fillip to the real estate sector."

"This reduction would have stimulated domestic economic recovery process and enabled banks to further lower the mortgage rates thereby making the home loans cheaper. We hope that RBI would factor in these concerns in the next bi-monthly monetary policy review and would take necessary steps to revive demand for the real estate products on offer." Mr. Jain added

Overview of Parsvnath Developers Limited:-

Parsvnath Developers Limited (PDL), one of India's leading real estate and infrastructure development companies, having a rich experience of more than 25 years has Pan India presence spread across 42 cities and 15 states. The Company's diversified business portfolio comprises of Residential, Commercial (Office and Retail), DMRC projects, Hotels, SEZs, IT Parks and Third Party Construction.

PDL has to its credit several architectural marvels where it has successfully transformed simple barren tracts of land into beautiful spaces, both residential and commercial. It is the first real estate company in India to have integrated the ISO 9001, 14001 and OHSAS 18001 Certification processes.

The Company has till date completed 55 projects, measuring 25.19 mn. sq. ft of developed area. Currently, 48 projects are under construction which on completion will deliver 69.67 mn. sq. ft. of developed area. The Company has a large land bank that stands at 142.64 mn. sq. ft.

More information about the company is available on www.parsvnath.com

For more details, please contact:

Neetal Narang (Ms.) Head Corporate Communications Parsvnath Developers Limited Email - [e-mail]

Jatin Khattar Senior Manager - Corporate Communications Parsvnath Developers Limited Mobile: [phone] Email - [e-mail]

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.