Parsvnath Developers Limited has reported total revenue of INR 214.26 crore for the third quarter ended December 31st 2009. Profit after tax stood at INR 32.67 crore and EBIDTA for Q3 FY10 was at INR 71.99 crore.
Standalone
| Particulars | Q3 '10 | Q3 '09 | Change |
| Total Revenue | 214.26 | 87.65 | 144.0% |
| EBIDTA | 71.99 | 28.83 | 150.0% |
| PAT | 32.67 | 5.34 | 512.0% |
| EPS | 1.65 | 0.29 | 469.0% |
In INR crore
Consolidated
| Particulars | Q3 '10 | Q3 '09 | Change |
| Total Revenue | 305.29 | 92.77 | 229.0% |
| EBIDTA | 81.76 | 29.42 | 178.0% |
| PAT | 24.91 | 5.42 | 360.0% |
| EPS | 1.26 | 0.29 | 334.0% |
In INR crore
Operational/Business Highlights:
Inked an agreement with leading international real estate private equity fund SUN Apollo, an international real estate private equity fund, for an investment in its premium luxury residential project Parsvnath Exotica Part II in Gurgaon. SUN Apollo has invested INR 750 million for a 50% stake in the project SPV which is developing Parsvnath Exotica Part II in Gurgaon.
Successfully completed construction of Akshardham metro station on BOT basis which was inaugurated by honorable minister for urban development Mr Jaipal Reddy, while inaugurating the Yamuna Bank NOIDA section in the august presence of honorable chief minister of Delhi Ms Sheila Dikshit. The integrated shopping mall cum metro station was completed within a time frame of just 24 months.
Mr Pradeep Jain chairman of Parsvnath Developers Limited said that "Continuous focus on execution of ongoing projects coupled with projects redesigning as per customer needs has helped us report strong growth in the third quarter. It gives me immense pleasure to reiterate that the products offered by Parsvnath Developers not only witnessed demand from end users but also reinforced investors’ confidence in us which is evident from the fact that leading investors like Redfort Capital bought 22% stake in Parsvnath La Tropicana and Sun Apollo bought 50% stake in Parsvnath Exotica."
He added that "Going forward we believe that the year 2010 would be a year of global recovery and the real estate sector would witness strong demand from end users as well as investors. The Centre for Monitoring Indian Economy also expects that propelled by a strong performance by the industrial sector and a robust recovery in agricultural sector our economy's GDP growth is expected to accelerate to 9.2% in 2010/11 from 6.9% in 2009-10. Therefore, as our economy grows it will bring along with it overall growth opportunities. This in turn will bring about stability in the job market which will ensure higher disposable incomes of households that will lead to higher demand for real estate products on offer."
