Parsvnath Developers Limited, one of India's largest real estate companies, recorded consolidated revenues of INR 9.42 billion for the year ended March 31st 2011. EBIDTA was at INR 3.24 billion, up by 9% from INR 2.98 billion. Net profit was at INR 1.41 billion versus INR 1.35 billion in FY 2010, registering a growth of 4%. The EPS for the year stood at INR 3.40. The PAT margin increased from 14.77% to 18.20% during the year.

For fourth quarter of FY 2011, PDL registered consolidated revenue of INR 2.55 billion, EBIDTA stood at INR 69 crore, while net profit for the quarter stood at INR 280 million. The EPS was at INR 0.65. The PAT margin for the quarter also increased from 10.33% to 12.55% as compared to corresponding quarter of last year.

Mr Pradeep Jain chairman of Parsvnath Developers Limited said that "While we have come out of the days of economic slowdown and have seen positive sentiments amongst buyers still the kind of demand that we have anticipated at the start of the year is still to come because of 7 times rate hikes by central bank in the last fiscal and the environment is very volatile and inflationary and the consistent high rate of inflation has impacted our bottom line. I am very pleased to share with you that we have progressed well on all our key business parameters that we have set and will continue to put thrust on faster execution, timely deliveries and maximizing cash flows."

He added that "We have strategically gone for bidding for new land and are committed to develop the same within stipulated time. During the coming quarters I feel that prices will move northward with upward bias of 10% to 15%. The rationale of price increase is because of increase in input costs have increased by as much as 10% in cement and 23% in steel, sanction costs have gone up as well as cost of funds have also increased, while I am confident that there is no concern on demand side, while the mortgage rates are also increasing on QoQ basis under the central bank policy but impact of interest and price rise of property is much higher than price to individual buyer as such the buyer will not defer his buying decision."

Mr Jain said that "Towards the commercial sector, after the global slowdown is over, all corporate and retailers are expanding and the supply of commercial space in centrally located place is not there as such we are seeing a trend of increase in rentals and sell prices in commercial segments as well. We have remained bullish even in a challenging business environment and our focus will continue to remain on the execution of our projects. To sum up, I am confident that the coming quarters will be more robust and we will have improved margins."