Parsvnath Developers Limited announced growth of 118% YoY in total income of INR 259 crore for the quarter ended June 30th 2010. The company’s net profit for the same period stood at INR 32 crore up 129% from INR 14 crore in the same period last fiscal. EBITDA for the period stood at INR 73 crore up 59%.

Operational Developments
1. Sold an area of 0.70 million square feet in Q1FY11.
2. During the quarter, company offered possession comprising an area of 1.39 million square feet.

Licenses, Approvals & Certifications
1. Building plans approved for constructing a commercial complex at Seelampur DMRC Metro Station, Delhi.
2. Building plans approved for constructing a Group Housing at Subhash Nagar, Delhi.
3. Delhi Metro Rail Corporation Ltd has awarded Safety Certificate to PDL for completing one million man hours worked without reportable incident. This is with regard to the construction of Dhaula Kuan Metro Station at the Airport Metro Express line.

Mr Pradeep Jain chairman of Parsvnath Developers Limited said that “The management focused on faster and accelerated completion of the ongoing projects than to aggressively launch new ones, I am pleased to share that the company has started reaping the benefits of the strategy. During past couple of months we have seen improved sales across segments. All our projects contributed to our revenue growth from either the integrated township or the housing projects.”