India’s one of the leading real estate and infrastructure company Parsvnath Developers Limited has announced audited Q4 and annual results for FY10.
For Q4 FY10, Parsvnath Developers recorded consolidated revenues of INR 360.95 crore, a growth of 1398% from INR 24.09 crore in Q4 of last fiscal. EBIDTA stood at INR 89.79 crore, a growth of 162% from INR 34.33 crore in the fourth quarter of FY09. The net profit for the period was INR 34.72 crore, a growth of 199% from INR 11.61 crore in Q4 FY09. The non annualized EPS for the quarter was INR 1.75.
The company reported consolidated revenues of INR 988.18 crore for the year ended March 31st 2010, up by 36% from INR 729.21 crore for FY09. EBIDTA stood at INR 297.93 crore, up by 25% as compared to INR 238.47 crore in the corresponding period last year. Net profit was at INR 134.86 crore, a growth of 19% from INR 112.91 crore.
| Particulars | Q4 '10 | Q4 '09 | Growth |
| Total Income | 360.95 | 24.09 | 1398% |
| EBIDTA | 89.79 | 34.33 | 162% |
| Net Profit | 34.72 | 11.61 | 199% |
| EPS | 1.75 | 0.63 |
(In INR crore)
| Particulars | FY10 | FY09 | Growth |
| Total Income | 988.18 | 729.21 | 36% |
| EBIDTA | 297.93 | 238.47 | 25% |
| Net Profit | 134.86 | 112.91 | 19% |
| EPS | 7.05 | 6.11 |
(In INR crore)
Major Highlights of the year:
1. Successfully completed construction of Akshardham metro station on BOT basis which was inaugurated by Honorable Minister for Urban Development, Sh. Jaipal Reddy, while inaugurating the Yamuna Bank NOIDA section in the august presence of Honourable Chief Minister of Delhi, Smt. Sheila Dikshit. The integrated shopping mall cum metro station was completed within a time frame of just 24 months.
2. The company announced the launch of Parsvnath City, Saharanpur, spread over 107 acres offering plotted development, independent Floors and expandable villas at affordable rates. First of its kind project in Saharanpur will offer independent floors in the affordable price range starting from INRs 950,000.
3. Received Letter of Intent for grant of licence from Director, Town and Country Planning, Haryana, Chandigarh for developing approximately 118 acres of Integrated Township in Sector 33 A, Rohtak, Haryana.
4. Received license for approximately 3.4 acre land in extension of the existing Integrated Township, Parsvnath City in Dharuhera which is a residential use land.
5. Received license for an addl. land of approximately 51.55 acres in the existing Integrated Township, Parsvnath City in Sonepat.
6. Received license for 50.56 acre land in Integrated Township, Parsvnath City in Karnal.
7. Received license for 5.34 acre land, a commercial project at Gurgaon.
Mr Pradeep Jain chairman of PDL said that “Our results reflect the improved outlook in the real estate business. With improved market confidence we are expecting a healthy rise in demand for our affordable residential properties as well as other offerings. Real estate prices, since October 2009 onwards, have shown upward trend on account of renewed confidence by the buyers. Given the strong fundamentals, we believe that real estate prices should remain firm at the current levels in the near term. With intense cost control measures undertaken by us during the last few years and certain other fresh initiatives currently underway for faster delivery of on going projects, we believe that the company will be able to improve its margins substantially while at the same time bring better returns to the shareholders. We believe that with the improved liquidity and financial market stability, new project launches will start originating and we are geared up within all our businesses, to capitalize such opportunities.”
