Parsvnath
Developers Limited announces Q3 FY16 results
Revenue
at Rs. 102 Cr.
New Delhi, February 12,
2016: Parsvnath
Developers Limited, one of India’s leading Real Estate and Infrastructure
Development Companies today
reported consolidated revenue (including other income) of Rs. 102 Cr. for the quarter ended December
31, 2015. EBIDTA and EBIDTA margins stood at Rs. 37 Cr. and 36 % respectively. Loss after tax and minority interest was at
Rs. 9 Cr. for Q3 FY 16.
Financial
Highlights for Q3FY16
|
Particulars
|
Q3FY16
|
Q2FY16
|
Q3FY15
|
|
Revenue
|
102
|
75
|
149
|
|
EBIDTA
|
37
|
15
|
71
|
|
EBIDTA margins
|
36%
|
20%
|
48%
|
|
Profit/ (loss) before Tax
|
(14)
|
(39)
|
24
|
|
Tax
|
(2)
|
(10)
|
10
|
|
Profit /(loss) after Tax
|
(12)
|
(29)
|
14
|
|
Minority Interest
|
(3)
|
(4)
|
-
|
|
Profit/(loss)
after Tax &
Minority
Interest
|
(9)
|
(25)
|
14
|
(Figures in Rs crore on
consolidated basis)
Operation/Business Highlights/Developments in Q3FY16
A.
Sales realized for 2.07 lac sq. ft of area (19,264
sq. mtr.), comprising of 1.15 lac sq. ft (10,640 sq. mtr.) of Group Housing, 0.09
lac sq. ft (907 sq. mtr.) of Commercial and 0.83 lac sq. ft (7,717 sq. mtr.) of
Residential plots.
B.
Handed over 7.57 lac sq. ft (70,295 sq. mtr.) of
area, comprising 6.63 lac sq. ft (61,563 sq. mtr.) of Group Housing, 0.27 lac
sq. ft. (2,542 sq. mtr.) of Commercial and 0.67 lac sq. ft (6,190 sq. mtr.) of
Residential plots.
C.
During
9MFY16, handed over 25.3 lac sq. ft (2,35,041 sq. mtr.) of area, comprising 11.59
lac sq. ft (1,07,685 sq. mtr.) of Group Housing, 0.27 lac sq. ft. (2,542 sq.
mtr.) of Commercial and 13.44 lac sq. ft (1,24,814 sq. mtr.) of Residential
plots.
D.
Metro
Cash & Carry opened its second outlet in Delhi at Parsvnath Mall in
Seelampur Metro Station.
E.
PDL launched “Parsvnath Aakanksha” (2/3 BHK Floors) in a fully
functional, integrated township ‘Parsvnath City, Jodhpur’.
F.
Parsvnath Mall at Akshardham Metro Station, Delhi
added a prominent food-chain brand -Haldiram’s.
G.
Franchise India at its 8th Estate
Awards felicitated Mr. Pradeep Jain with the coveted ‘Lifetime Achievement
Award’ for his immense contribution in Real Estate sector.
Commenting on the performance for the third
quarter of FY16, Mr. Pradeep Jain, Chairman, Parsvnath Group, said, “Even in the third quarter, our focus remained on
execution of ongoing projects and it had a resultant negative impact on our
topline and bottom-line. However, while working in line with our commitment of
faster execution and delivery of ongoing projects, we were able to offer
possession of 25.3 lac sq.ft. in first nine months and 7.57 lac sq.ft. in the third quarter of this financial year.”
“During the quarter, we launched “Parsvnath
Aakanksha” (2/3 BHK Floors) in a fully functional, integrated township
‘Parsvnath City, Jodhpur’ at affordable rates and the project received
overwhelming response from the customers. This would have a cascading positive
impact on the topline and bottom-line in near future.” 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 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 57 projects, measuring 25.94 mn.
sq. ft of developed area. Currently, 48 projects are under construction which
on completion will deliver 68.40 mn. sq. ft. of developed area. The Company has
a large land bank that stands at 141.26 mn. sq. ft.
More information about the
company is available on www.parsvnath.com