Parsvnath Developers announces Q1 FY2013 results PBT at Rs 34 Crore and Revenue at Rs 163 Crore
New Delhi, August 13, 2012

Parsvnath Developers Limited (PDL), India's leading real estate and integrated infrastructure developer having a diversified portfolio registered operating revenue of Rs 163 Cr and profit before tax of Rs 34 Cr in first quarter ended on June 30, 2012. EBIDTA stood at Rs 115 Cr and EBIDTA margins stood at 71% for the same period.

All figures in the press release are consolidated in Rs crore unless stated otherwise

Particulars Q4FY12 Q3FY12 Q4FY11
Operating Revenue 163 195 219
EBIDTA 115 131 108
EBIDTA margins 71% 67% 50%
PBT 34 43 55
TAX 13 15 78
PAT 21 28 -23
PAT (after Minority Interest) 20 26 -27

Tax expenses of the current quarter and for the current year increased due to tax liability on account of reversal of deduction under section 80 IB of the Income Tax Act, 1961

Operation / Business Highlights

  • As a strategy for accelerated possession offering, company is concentrating on faster execution.
  • Credit Analysis & Research Ltd.(CARE) has assigned ratings for our two projects which are as under:

    i) We have been awarded " NCR-6 Star" rating for our state -of- the- art, centrally air-conditioned office complex of international standards located in the central business zone at Bhai Veer Singh Marg, New Delhi. The Project named "Redfort Parsvnath Towers" is being developed by our subsidiary company, Parsvnath Estate Developers Pvt. Ltd. with funding from Redfort Capital, a leading international Real Estate Private Equity Fund. The Project is being constructed by L&T on turnkey basis and nearing completion.

    ii) Parsvnath La-Tropicana, our super luxury Group Housing Project at Khyber Pass, Civil Lines, Delhi has also been given "NCR-5 Star" rating. This Project is being developed over 16.82 acres of land by our subsidiary company, Parsvnath Landmark Developers Pvt. Ltd. with funding from J.P. Morgan group entities. The Project has an excellent club and offers all facilities and amenities that the modern lifestyle demands.

Commenting on the performance, strategy followed and future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Developers Limited, said,

The last quarter has been full of new type of challenges. On one side, there has been a constant increase in the cost of material while on the other side, Real Estate sector has been devoid of easy funding. Both these aspects effect the Company performance as well as the results.

The availability of funding is improving gradually which shall have necessary rolling impact on various aspect of Real Estate. Further, needless to mention, it has now for the Government to take suitable steps for funding in the Real Estate sector because the overall growth in economy is depending upon how the infrastructure improves. We hope that the Government would bring suitable policies and guidelines to encourage affordable housing to enable us suitably to plan ahead.

Overview of Parsvnath Developers Limited:-
With more than 2 decades of experience in real estate industry in all verticals, having completed 45 projects. PDL is currently working on 49 projects with a total area of 76 mn sq ft. The company's business portfolio includes Residential, Commercial (office and retail), DMRC Projects, Hotels, SEZs, IT Parks, third party construction. More information about the company is available onwww.parsvnath.com

For more details, please contact:

Mr. M.C. Jain
Sr.Vice President - Corporate
Parsvnath Developers Ltd.
New Delhi
Telephone: 011-43050421
E-mail: mc_jain@parsvnath.com		 Mr. Devendra Pathak
Asstt. Manager (Advertising)
Parsvnath Developers Ltd.
New Delhi
Telephone: 011-43686649
E-mail: Devendra.pathak@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 strategy 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.



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