Parsvnath Developers : announces Q3 FY17 Results Revenue at Rs. 61 Cr.

Parsvnath Developers Limited announces Q3 FY17 results Revenue at Rs. 61Cr.

New Delhi,February 11,2017: Parsvnath DeveloQMs Limited (PDL), one of India's leading Real Estate and Infrastructure Development Companies today reported revenue (including other income) of Rs. 61 Cr. for the quarter ended December 31,2016. EBIDTA and EBIDTA margins stood at Rs. 10 Cr. and 16 % respectively.

Financial Highlights for Q3FV17

Particulars	Q3FY17	Q2FY17	Q3FY16
Revenue	61	55	76
EBIOTA	10	11	22
EBIDTA margins	16%	20%	29%
Profit/ (loss) before Tax	(21)	(8)	(6)
Tax	(6)	(2)	(2)
Profit /(loss) after Tax	(15)	(6)	(4)

Highlight/ Developments in Q3FY17

(Figures in Rs crore on standalone basis)

• During 9MFY17, the Company offered possession/ fit-out of over 625 units with an area of 12.73 lac sq. ft (1,18,267 sq. mtr.), comprising of 9.25 lac sq. ft (85,962 sq. mtr.) of Group Housing/ Low-rise, 0.19 lac sq. ft. (1741 sq. mtr.) of Commercial and

  3.29 lac sq. ft (30,564 sq. mtr.) of Residential plots.

• 'Completion Certificate' has been received with regard to Parsvnath Mall at Moradabad. POL has associated with PVR Cinemas as Multiplex partner in the mall.

• Environmental Clearance and Approval from Airports Authority of India, have been received with regard to Kukatpally Hyderabad project.

Commenting on the performance for the third quarter of FY17, Mr. Pradeep Jain,Founder Chairman, Parsvnath Group, said, "Focusing on the strategy of execution of the projects, the company offered approximately 200 units in the quarter.

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Government's initiative of granting infrastructure status to the affordable housing segment in the Union Budget 2017-18 will be helpful in lowering the cost of funds for the developers. This will certainly boost developers to come up with more affordable housing projects and make "Housing for All" a reality. This along with other policy reforms like RERA and Demonetisation are expected to bring transparency in the system and would be further instrumental in reinstating the trust of th end users in credible real estate developers" Mr.

Jain added

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Pl: /)t'.? ll'!op rslimited :·( • ., :,I ) L 11

CIN: L45201DL1990PLC040945, " ,, ) '/j

Cororate Office: 6th Floor, Arunachal Building, 19, Bara gmba,1 oa.;P.;t,jew Delhi-110001, Ph. : 011-43686600, 43684800, Fax : OlA-23315400

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Registered Office: Parsvnath Tower, Near Shahdara Metro Station,SMhdaril, Delhi - 110032, Ph. : 011-43050100, 43010500, Fax : [phone]

About 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 3 decades has Pan India presence spread across 41 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 64 projects (including 6 contractual projects), measuring 27.94 mn. sq. ft of developed area. Currently, 44 projects are under construction which on completion will deliver 54.33 mn. sq. ft. of developed area. The Company has a large land bank that stands at

101.60 mn. sq. ft.

More information about the company is available on www. parsvnath.comFor more details, please contact:

Neetal Narang (Ms.)

Addi. Vice President - Corporate Communications

Parsvnath Developers Limited Telephone: [phone]

Email- neetal.naran svnath .com

For I nvestor Relations: Mr. Ramesh Kaushal

Addi. General Manager - Corporate Parsvnath Developers Ltd.

Telephone: [phone]

Email: ramesh [e-mail]

Forward-looking Statements:- This report conl'Dins f orward -looking statements, which may be Iden tified by their use of words like 'plans',

·expects', 'will', 'anticipates', 'believes', 'Intends', 'projects', 'estfmotes' or other words of sfmi/ar meaning. All statements that address expectations or projections about t.he fu ture, including bur nor 1/mlted to statements obour the company's strategy for growth, market positi on, expenditures, and fi nancial results, are forw ard -fooklng statements. Forward-looking statements ore based on certain assumptions ond expectations of fu ture events. The company cannot guarantee that these assumptions and expectotlans ore accurate or will be realized. The compan y's actuof results, pe rf ormance or achievements could thus differ moterla// y f rom those pr oje cted in any such forw ard ·fooklng statements. The company assumes no responsibility to publicly amend, modify or revise anyforward looking statements, on c.he basis of any subsequent developments, information or events.

Par:n,nath D vclopers llmitcd

CIN: 45201DLJ990PLC040945

Corporate Office: 6th Floor, Arunachal Building, 19, Barakhamba Road, New Delhi-110001, Ph. : Oll 43686600, 43684800, Fax : [phone]

Registered Office: Parsvnath Tower, Near Shahdara Metro Station, Shahdara, Delhi - 110032, Ph. : 011-43050100, 43010500, Fax : [phone]

PARSVNATH DEVELOPERS LIMITED

Regd.Office: Parsvnath Tower, Near Shahdara Metro Station, Shahdara, Delhi - 110 032 Corporate Office: 6th Floor, Arunachal Building, 19, Barakhamba Raad, New Delhi· 110 001 CIN :L45201DL1990PLC040945; Tel.: [phone];Fax :[phone]

E-mail :[e-mail]; website :www.parsvnath. com

Panvnath

Commltled lo bui d• bolter wortd

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER, 2016

Rs.in lakhs

Particulars	Quarter ended			Nine months ended
	31.12.2016 Unaudited	30.09.2016 Unaudited	31.12,2015 Unaudited	31.12.2016 Unaudited	31.12.2015 Unaudited
1. 2. 3. 4. 5. 6. 7 8 9 10 11 12 13 14 15 16 17	ncome from operations Revenue from operations Other operating income Total income from operations (a+b) Expenses a. Cost of land / development rights b. Cost of materials consumed Contract cost, labour and other charges Changes in inventories of finished goods and work in progress Employee benefits expense Depreciation expense g. Other expenses Total expenses Profit I (Losslfrom operations before other income, finance cost and exceptionalitems (1- 2) Other income Profit / (Loss) from ordinary activities before finance cost and exceptional items (3 + 4) Finance costs Profit I (Loss) from ordinary activities after finance cast but before exceptionalitems (5 -6) Less: Exceptional items Profit / (Loss) from ordinary activities before tax {7 8) Tax expense (including tax adjustment for earlier years) Profit / (Loss) from ordinary activities after tax (9 -10) Extraordinary items Net Profit / (Loss) far the period (11-12) Other Comprehensive ncome (Net of tax) Total Comprehensive ncome (13+14) Paid-up equity share capital (Face value Rs. 5 each) Earninqs Der share (of Rs. 5/·each) Basic and Diluted (not annualised) (in Rupees)	5474.40 40.fil	4815.84 74.81	6665.60 118.18	18913.09 158.09	24841.34 242 .64
		5515.01	4890.65	6783.78	19071.18	25083.98
		1535.02 665.05 645.49 49.66 722.67 218.22 1473.63	4713.29 2657.43 3441.01 3132.35 2867.69 724 .32 4134 .93
					1451.82 1305.60 841.25 (1170 .45) 749.18 212.23 1206 .67
						1051.85 4310 .95 172.88 3600.23 870.42 2505.88 1167.49 (2923.18) 765.03 2237 .93 237.81 643.94
						1311.99	4347.33
		5309.74	4596.30	5577.47	14723,08	21671.02
		205.27 575 .33	294.35 635.60	1206.31 767.80	4348.10 2037.65	3412.96 2804 .49
		780.60 2886 .26	929.95 1754.40	1974.11 2552.42	6385.75 8042.43	6217.45 8039.55
		(2105.66)	{824.45)	(578.31)	(1656.68)	(1822.10)
		0.00	o.oo	o.oo	0 .00	0.00
		(2105.66)	{824.45)	(578.31)	(1656.68)	(1822.10)
		(599.44)	(202 .55)	(184.74)	13.35	(666.54)
		(1506.22)	{621.90)	(393.57)	(1670.03)	(1155.56)
		0 .00	0 .00	0.00	0.00	0.00
		(1506.22)	(621.90)	(393.57)	(1670.03)	{1155.56)
		3.28 (1502.94) 21759.06 (0.35)	(27 .50) (649.40) 21759.06 (0. 14)	11.57 (382.00) 21759.06 (0.09)	(22.69) (1692.72) 21759.06 (0 .39)	23.47 (1132.09) 21759.06 (0.26)

Notes to the Unaudited Financial Results:

I. Reconciliation of Net Profit for the quarter and nine months ended 31 December, 2015 as perInd AS to that reported under previous Generally Accepted Accounting Principles (GAAP) is summarised as follows:

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Particulars			Quarter Ended 31.12.2015	Nine Months Ended 31.12.2015
Net Profit as per ndian GAAP			{278.77)	(1313.87)
Adjustments on account of application of nd AS:
- Impact of fair v aluation of Financial assets and financial liabilities			44 99 24.63
- Impact on net revenue (revenue less cost) due to interest capitalisation using effective interest rate and adjustments w ith			(227 .84) 185.23
respect to revenue recognition
- Deferred tax impact			66 64	(55.48)
- Others			1.40849	3.93
Net Profit as per nd AS (before Other Comprehensive ncome)			(393.57)	(1155.56)
Other Comprehensive Income (net of tax)			1l.57	23.47
Total Comprehensive	ncome as per	nd AS	(382.00)	(1132.09)

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PARSVNATH DEVELOPERS LIMITED Regd. Office: Parsvnath rowr, Near Shahdara Metro Station, Shahdara, Delhi - 110 032 Corporate Office: 6th Floor, Arunachal Building, 19, Barakhamba Road, New Delhi· 110 001 CIN :L45201DL1990PLC040945; Tel. :011·43050100, 43010500; Fax :011·43050473

E-mail :investorsitparsvnath.com; website : www.parsvnath. com

Pcanvncath

Committed to build IIbott"' world

1. The unaudited standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 11February, 2017. The statutory auditors have carried out Limited Review of the financial results for the Quarter and nine months ended 31 December, 2016.

2. The Company has adoptedIndian Accounting Standards {"Ind AS") from 1 April, 2016 and accordingly these financ ial results have been prepared in accordance with the recognition and measurement principles laid down inInd AS 34 -Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013, read with the relevant rules issued thereunder and other accounting principles generally accepted inIndia . The date of transition toInd AS is 1 April, 2015. Figures for the corresponding quarter and nine months ended 31 December, 2015 have been restated to comply withIND AS.

3. As the Company has only one operating segment, disclosure underInd AS 108 on "Operating Segments" is not applicable.

4. Figures for the previous quarter I nine months have been regrouped, wherever necessary, for the purpose of comparison.

For and on behalf of the Board Place : New Delhi Dated : 11 February, 2017 Pradaep Kumar Jain Chairman DIN:00333486