MANOJa

June 1, 2011

Reading a strong demand in northern India space, real-estate major Parsvnath Developers is all set to launch township on SEZ property in Gurgaon. “The company aims to sell 6-7 msf in FY12,” said chairman Pradeep Jain in an interview with CNBC-TV18. Despite the impact of interest and price rise of property, the company sees the consumer demand staying afloat.

The company felt the heat in its FY11 results announced recently. With the central bank raising interest rates in the last fiscal and inflationary pressure on raw-material costs, the company’s total revenue on a year-on-year basis was down by 30% at Rs 252 crore versus Rs 359 crore. In line with slowdown in the sector, its EBITDA fell by 24% to Rs 66.5 crore from Rs 82 crore in the last financial year.

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Parsavnath is Highly Unreliable Builder.

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MANOJa

Quite true . Look at this -


Court Orders FIR Against Parsvnath Builders

Above is a news share .

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Not even a single project launched 6 years back has been handed over to the buyers. While Unitech has started giving possession after 6 years of all its projects in Gr noida. One would wonder Almost all of the projects launched during same time almost 6 years back has not constructed even half of the building.
other regions too have the similar story Sonipat,Dharuhera,Panipat etc.
I have seen these launches when i was in college and now I am working still, not completed.