Hi,

I bought one of the flats in the Parsvnath Privilege project in Greater Noida. The delivery of the project has been delayed by June/July2011, per the builder.

Any other folks on the board having vested interest in the Parsvnath Privilege project? I would like to connect with them.

Would love to know, if any body else have project updates, issues, or financial information about the project and the company.

Thanks,
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  • Can the ppl who had invested in Parsvnath privilege come forward ?
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  • Latest Results of Parsvnath in today's ET!

    Folks,

    I'm sure this may not be the best place to talk about Parsvnath's performance. But I thought a quick analysis of teh company may give you some pointers about why they are doing what they are ...

    As compared to the last quarter of last year (Mar 2008), their turnover has declined about 86% from 540 Crores to 76 Crores. Their Net profit has declined 87.5% from 109 to 13.50 Crores.

    Even on a quarter to quarter basis turnover has declined around 18% but Net Profit has increased modestly by around 8.20 Crores.

    There are two notable points to be made. Interest has shot up even as turnover has declined hugely. This is because of the large debt component of around 3500 Crores. On the side of safety, they have a Net Worth of 1920 Crores, so the company is not about to go under.

    I also saw a TV rerport today that management claims this latest june quarter is showing much higher turnover over the last March'09 quarter. We shall see.

    The other important point is that while tax rates being paid was around 30% last year, now they are actually having a negative tax incidence. This boosts profit after tax a little and paints a little rosier picture.

    All-in-all, the EPS is likely to come down from Rs.22 per share last year (and price hit a peak of Rs.598 per share) to current year of Rs.6.12 (and price hit a bottom of Rs.31 per share). Next year we should see an EPS of around Rs.4 and current price of Rs.8 5 discounts earnings by 21 times - a little rich valuation under current circumstances.

    As I have been saying again and again, the markets saw this 85%+ decline in turnover and profits and hammered the stock by 95% a good 6 months earlier than the data came out. This is how Stock Markets always behave!!!

    Please note that, in my opinion, there is no real danger of the company going bust although you may continue to see short-term cashflow issues and project delays.

    My two bits.

    cheers
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  • Parvnath Privilege

    Hi, I am one of the buyers of an aprtment in Parsvnath Privilege in Greater Noida. Would like to bein touch with other buyers to have an update on the project. Currently the construction on the site is on hold and they are saying that it will restart after Diwali. Does anybody has any other update? please contact me on m(dot)arshad16(at)gmail(dot)com

    Thanks,
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  • Parsnath Privilege

    Dear Friends,

    I am also one of the apartment owner of Privilege project. Can anyone update me on the current status as i live outside of the country and unable to be in touch with the latest developments.

    Regards - Gaurav
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  • Parsvnath Privilege

    All,

    I have also purchased a flat in parsvnath privilege and paid more than 45 % of the total amount, I had a connection linked plan, but now the construction has been stopped and as i gather from you guys that they are planning to complete some time in 2011.

    Shall we put togther the plan to speak to the managment and raise our concern.

    Thanks
    AK
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  • Guys,

    There is a meeting/ Dharna called some a group of people who are troubled becuase of Parsvnath.

    Is is on Feb 6th at their CP Office, Delhi at 2pm.

    I will be there. Please be present to vent out your furstation on the thief builder.
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  • Parsvnath Privilege - Update FDI

    Hi,

    I have got a flat in Parsvnath Privilege flat, and have been running aorund from quite some time and the Builder is not taking us seriously. Lets all group together and raise our voice to ascertain we are treated wiht respect and get a response.

    Thanks
    Atul
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  • brothers can you please tell me whether parsvanath privilege in greater noida is progressing well or not and which thread can i follow up, I spoke to the developers and they another 2 years to go; Can any one provide pictures of the progress, my unit is in Tower T4
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  • Originally Posted by virajl
    brothers can you please tell me whether parsvanath privilege in greater noida is progressing well or not and which thread can i follow up, I spoke to the developers and they another 2 years to go; Can any one provide pictures of the progress, my unit is in Tower T4

    Progress is going on though It is very very very slow. :(
    super structure of few towers are ready
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  • when are these idiots going to deliver this project? I have my money stuck in these bastards and I would like to go there office and give these bastards a few slaps..
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  • Thank you Cookie ji for responding, can you please tell me also when will they finish this project in totality? is the story about seepages and poor construction true?
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