New Delhi, 10th September, 2016: Parsvnath Developers Limited, India’s leading real estate and infrastructure developer today reported revenue of Rs 95 cr (including other income) for the quarter ended June 30, 2016. EBIDTA and EBIDTA margins stood at Rs 49 Cr and 52 % respectively. Profit before tax was at Rs 13 Cr. for Q1FY17.
Financial Highlights for Q1FY17
Particulars Q1FY17 Q1FY16
Revenue 95 143
EBIDTA 49 38
EBIDTA margins 52% 27%
Profit before Tax 13 7
Tax 8 2
Profit after Tax 5 5
(Figures in Rs crore on standalone basis)
Operational Highlights in Q1FY17
The company has made total bookings for 3.68 lac sq. ft. of area (34,195 sq. mtr.) comprising of 0.20 lac sq. ft. (1,892 sq. mtr.) of Group Housing, 0.03 lac sq. ft. (208 sq. mtr.) of Commercial and 3.45 lac sq. ft. (32,095 sq. mtr.) of Residential plots.
The company has offered possession of 143 units over 2.96 lac sq. ft. (27,539 sq. mtr.) of area comprising of 0.65 lac sq. ft. (6,069 sq. mtr.) of Group Housing and 2.31 lac sq. ft. (21,470 sq. mtr.) of Residential plots.
Commenting on the performance for the first quarter of FY17 and future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Group, said, "The real estate sector still needs to gain consistent momentum. Though there has been an uptick in the commercial real estate but the residential segment is witnessing a slow but steady demand. We, at Parsvnath have continued to implement our strategy and focus on “Execution of on-going projects” which will help the company bring back the confidence of buyers in the sector.
Overview of Parsvnath Developers Limited:-
Parsvnath Group with 30 years of experience in real estate industry has Pan India presence across 41 cities and 15 states in India. The Company's diversified business portfolio comprises of Residential, Commercial (Office and Retail), DMRC projects, Hotels, SEZs, IT Parks and Third Party Construction. The company having successfully completed and delivered 57 projects and is currently working on 45 projects with a total area of 53.47 mn. sq ft.