Parsvnath announces Ql FV18 results

Revenue at Rs 53 Cr

New Delhi, h August, 2017: Parsvnath Developers Limited one of India's leading real estate and infrastructure developers today reported revenue of Rs 53 er (including other income) for the quarter ended June 30,2017. Loss after tax was at Rs 26 Cr. for Q1FY18.

Financial Highlights for Q1FY18

Particulars

Q1FY18

Q1FY17

Revenue

53

95

Profit/ Loss before Tax

(36}

13

Tax

(10}

8

Profit/ Loss after Tax

(26}

5

(Figures in Rs crore on standalone basis)

Operational Highlights in Q1FY18

  1. The Company has seen substantial rise in its sales booking in Q1FY18 with 3.70 lac sq. ft. of area (34,437 sq. mtr.) as against 0.84 lac sq. ft (7,820 sq. mtr.) in Q4 FYl7.

  2. Offered Possession/fit-outs of 101 units with an area of 1.49 lac sq. ft. (13,866 sq. mtr.) in this quarter as against 215 units comprising of 3.84 lac sq. ft. (35,692 sq. mtr.) in Q4FY17.

  3. The luxury office and retail segment has seen considerable demand given the locational advantage and facilities in our projects at Delhi.

  4. The Group, in this quarter has sub-leased an area of 50,689 sq. ft. (4,709 sq. mtr.) to World Health Organization (WHO) and an area of 23,012 sq. ft. (2,138 sq. mtr.) to Facebook India Online Services Pvt. Ltd. In its project at Parsvnath Capital Tower - Bhai Vir Singh Marg, New Delhi in addition to existing corporates viz. Aditya Birla, Thomson Reuters, lndiabulls, State Bank of India, ICICI Prudential, Axis Bank, Regus, Loreal & Cafe Coffee Day Express.

Commenting on the performance for the first quarter of FY18 and future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Group, said, "The real estate sector continues to be in its transitory phase as in the past years. The legal framework of RERA and related ilk though in long term will certainly help sector brighten up while reinforcing buyers' confidence and sentiments. The Company has registered its projects under RERA in different states and has already received registration certificate for 19 projects.

On the luxury office and retail front, I am happy to state that our projects in New Delhi continue to be a preferred and much sought after destination for established corporates & retailers. The Company is focusing on completing the Phase II of its project Parsvnath Capital Tower at Bhai Vir Singh Marg, 27 Parsvnath at Kasturba Gandhi Marg in Connaught Place, Parsvnath Mall at Rohini in West Delhi and metro projects along the metro stations viz. Parsvnath Mall at Netaji Subhash Place, Parsvnath Mall at Akshardham, Parsvnath Mall at Azadpur, Parsvnath Mall at Seelampur, Parsvnath Mall at Welcome in addition to the already operational malls along metro stations (Parsvnath Mall at lnderlok, Parsvnath Mall at Pratap Nagar, Parsvnath Mall at Kashmere Gate) thereby making the total leasable area to around 3 million sq. ft. The completion of these prestigious projects in the heart of Delhi on fast track will increase the rent roll from this segment." Mr. Jain added further.

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 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 65 projects (including 6 contractual projects), measuring 28.29 mn. sq. ft of developed area and is currently developing 54.63 mn. sq. ft. The Company has a large land bank that stands at 101.71mn. sq. ft.

More information about the company is available on www.parsvnath .com For more details about Parsvnath Developers Limited, please contact:

Ms. Neetal Narang

Addi. Vice President - Corporate Communications

Parsvnath Developers Limited Mobile: +91999833637

Email - neetal.narang@parsvnath.com

For Investor Relations: Mr. Ramesh Kaushal

General Manager - Corporate Parsvnath Developers Limited Telephone: 011-43050192

Email: ramesh kausha l@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 strateg y 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.

Parsvnath Developers Limited published this content on 12 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 August 2017 07:16:04 UTC.

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