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Parsvnath Group a Leading Infrastructure Developer Announces Q4
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siliconindia
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Tuesday, June 4, 2013
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Parsvnath Group (Parsvnath), India's leading real estate and infrastructure developer with a diversified portfolio, registered operating revenue of 
182 Cr. and profit before tax of 37Cr. in the quarter ended March 31, 2013. EBIDTA stood at 130 Cr. and EBIDTA margins stood at 71% at the end of the quarter.
On annual basis, PDL reported total revenue of 643 Cr. and PBT of 132 Cr. in Financial year 2013. EBIDTA and EBIDTA margins stood at 458 Cr. and 71% respectively.
Operation / Business Highlights:-
As a strategy for accelerated possession offering, company is concentrating on faster execution.
Parsvnath has almost completed execution of 'Red Fort Parsvnath Towers' at Bhai Veer Singh Marg, New Delhi. Project is due for completion certificate. Company had inducted M/s Larsen & Toubro, (L&T), India's leading construction and engineering firm, for construction of 'Red Fort Parsvnath Towers' on a turnkey basis.Parsvnath repatriated 34.56 crores to PE investor, Sun Appollo from Exotica Gurgaon SPV project.Parsvnath offered possession ofapprox. 600 units, comprising an area of about 1.35 Mn sq. ft.
Commenting on the performance, strategy followed and future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Group, said,
Financial Year 2012-13 brought in some positive sentiments in the market which would yield returns in coming quarters. Few of the decisions by government regarding ECB for affordable housing and FDI in retail are surely going to have positive impacton our business. In addition, the recent cuts in Repo Rate by RBI will encourage home buyers. This will surely curb the problem of piling inventories. Overall, we see some robust business in coming quarters.
We have also launched a path-breaking '25:75 House of Happiness Scheme' where a buyer needs to pay just 25% at the time of booking and rest on offer of possession. What is unique is that it does not involve any bank loan and thus no EMIs. This scheme is applicable on our twenty projects which are under fast track execution in cities like New Delhi, Greater Noida, Ghaziabad, Sonepat, Dharuhera, Moradabad, Ujjain, Saharanpur, Bhiwadi, Panchkula and Rajpura. We are receiving an overwhelming response from buyers across properties and are delighted to see a huge number of first time buyers in the list.
We are in the process to launch our integrated township project spread over 104 acres of land in Sohna. The final master plan for residential zone on Sohna has been notified by Haryana Government. We have applied for licenses to develop the project which will consist of plotted developments as well as Group Housing. We will start execution as soon as we receive the approvals.
We are also on the verge of starting execution at our K G Marg property. Earlier, we were planning to monetize it but due to anticipated improvement in cash flow in the near future and tremendous response from investor community, we are planning to develop a world class retail and office space in about 1.2 acres of land on K G Marg. We have already received all the required approvals from various authorities.
Parsvnath Group has always been committed towards benefit of our customers, partners and stakeholders. We are confident that the coming quarters will further strengthen our foundation and bring back Parsvnath to its glorious days.
182 Cr. and profit before tax of 37Cr. in the quarter ended March 31, 2013. EBIDTA stood at 130 Cr. and EBIDTA margins stood at 71% at the end of the quarter.
On annual basis, PDL reported total revenue of 643 Cr. and PBT of 132 Cr. in Financial year 2013. EBIDTA and EBIDTA margins stood at 458 Cr. and 71% respectively.
Operation / Business Highlights:-
As a strategy for accelerated possession offering, company is concentrating on faster execution.
Parsvnath has almost completed execution of 'Red Fort Parsvnath Towers' at Bhai Veer Singh Marg, New Delhi. Project is due for completion certificate. Company had inducted M/s Larsen & Toubro, (L&T), India's leading construction and engineering firm, for construction of 'Red Fort Parsvnath Towers' on a turnkey basis.Parsvnath repatriated 34.56 crores to PE investor, Sun Appollo from Exotica Gurgaon SPV project.Parsvnath offered possession ofapprox. 600 units, comprising an area of about 1.35 Mn sq. ft.
Commenting on the performance, strategy followed and future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Group, said,
Financial Year 2012-13 brought in some positive sentiments in the market which would yield returns in coming quarters. Few of the decisions by government regarding ECB for affordable housing and FDI in retail are surely going to have positive impacton our business. In addition, the recent cuts in Repo Rate by RBI will encourage home buyers. This will surely curb the problem of piling inventories. Overall, we see some robust business in coming quarters.
We have also launched a path-breaking '25:75 House of Happiness Scheme' where a buyer needs to pay just 25% at the time of booking and rest on offer of possession. What is unique is that it does not involve any bank loan and thus no EMIs. This scheme is applicable on our twenty projects which are under fast track execution in cities like New Delhi, Greater Noida, Ghaziabad, Sonepat, Dharuhera, Moradabad, Ujjain, Saharanpur, Bhiwadi, Panchkula and Rajpura. We are receiving an overwhelming response from buyers across properties and are delighted to see a huge number of first time buyers in the list.
We are in the process to launch our integrated township project spread over 104 acres of land in Sohna. The final master plan for residential zone on Sohna has been notified by Haryana Government. We have applied for licenses to develop the project which will consist of plotted developments as well as Group Housing. We will start execution as soon as we receive the approvals.
We are also on the verge of starting execution at our K G Marg property. Earlier, we were planning to monetize it but due to anticipated improvement in cash flow in the near future and tremendous response from investor community, we are planning to develop a world class retail and office space in about 1.2 acres of land on K G Marg. We have already received all the required approvals from various authorities.
Parsvnath Group has always been committed towards benefit of our customers, partners and stakeholders. We are confident that the coming quarters will further strengthen our foundation and bring back Parsvnath to its glorious days.
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