Parsvnath Developers Limited Announces Q2 FY16 Results

Parsvnath Developers Limited, one of India’s leading Real Estate and Infrastructure Development Companies today reported consolidated revenue (including other income) of Rs. 75 Cr. for the quarter ended September 30, 2015. EBIDTA and EBIDTA margins stood at Rs. 15 Cr. and 20 % respectively. Loss after tax and minority interest was at Rs. 25 Cr. for Q2 FY 16

Financial Highlights for Q2FY16

(Figures in Rs crore on consolidated basis)

Operation/Business Highlights/Developments in Q2FY16

a. Sales realized for 3.94 lac sq. ft of area (36,564 Sq. Mtr.), comprising of 0.23 lac sq. ft (2,116 Sq. Mtr.) of Group Housing, 0.43 lac sq. ft (3,955 Sq. Mtr.) of Commercial and 3.28 lac sq. ft (30,493 Sq. Mtr.) of Residential plots

b. Handed over 4.41 lac sq. ft (40,963 Sq. Mtr.) of area, comprising 1.04 lac sq. ft (9,703 Sq. Mtr.) of Group Housing and 3.37 lac sq. ft (31,260 Sq. Mtr.) of Residential plots.

c. Mr. Pradeep Jain was felicitated with ‘Construction World Architect & Builder Award’ for decade of excellence, best practice, innovation in construction field and among all the developers in real estate sector who demonstrate the highest level of commitment, adopt best practices in delivering quality projects and have the ability to envision, innovate and execute.

d. PDL’S key Commercial-cum Office project ‘Red Fort Parsvnath Towers, Bhai Veer Singh Marg’ won the coveted ‘Smart Project of the Year’ award at the ‘5^th Annual Construction Week India Awards 2015’.

e. PDL was conferred with The ‘Developer of The Year – Commercial’ award at the Realty Plus Excellence Awards (North) 2015 for its key commercial project ‘Red Fort Parsvnath Towers, Bhai Veer Singh Marg’. Realty Plus recognizing the contributions of Mr. Pradeep Jain in the realty sector also presented the ‘Scroll of Honour’ to Mr. Pradeep Jain.

f. In the inaugural edition of India International Property Awards (IIPA) 2015 – India’s 1^st Peoples’ Choice Real Estate awards, PDL received award for the category ‘Front Runner of Indian Realty’.

Commenting on the performance for the second quarter of FY16 and future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Group, said, “Operational efficiencies, focus on execution of on-going projects and revival of demand from the commercial segment enabled the company to report steady growth in revenues in the second quarter of the financial year. During the quarter we offered possession of 4.41 lac sq. ft. (40,963 sq. mtr.)”

“Towards the end of the quarter, the Reserve Bank of India in its fourth Bi-monthly monetary policy reduced the benchmark repo rate by 50 basis points to a four year low from 7.25% to 6.75%. The rate cut followed by base rate cuts by banks will stimulate domestic recovery process and will be instrumental in reviving the overall sentiments of the real estate sector. Going forward, with the festive season on the anvil and the cascading impact of base rate/mortgage rate cuts on the home loan rates, we expect to witness an uptake in the real estate transactions in the third quarter of this fiscal.” Mr. Jain added.

Overview of Parsvnath Developers Limited:-

Parsvnath Developers Limited (PDL), one of India's leading real estate and infrastructure development companies, having a rich experience of more than 25 years has Pan India presence spread across 42 cities and 15 states. The Company's diversified business portfolio comprises of Residential, Commercial (Office and Retail), DMRC projects, Hotels, SEZs, IT Parks and Third Party Construction.

PDL has to its credit several architectural marvels where it has successfully transformed simple barren tracts of land into beautiful spaces, both residential and commercial. It is the first real estate company in India to have integrated the ISO 9001, 14001 and OHSAS 18001 Certification processes.

The Company has till date completed 55 projects, measuring 25.19 mn. sq. ft of developed area. Currently, 48 projects are under construction which on completion will deliver 69.67 mn. sq. ft. of developed area. The Company has a large land bank that stands at 142.64 mn. sq. ft.

More information about the company is available on www.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.