Parsvnath Developers soars on selling 140 acre land at Sohna to Supertech

22 Sep 2014 Evaluate

Parsvnath Developers is currently trading at Rs. 24.60, up by 0.75 points or 3.14% from its previous closing of Rs. 23.85 on the BSE.

The scrip opened at Rs. 24.50 and has touched a high and low of Rs. 24.95 and Rs. 24.50 respectively. So far 70821 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 5 has touched a 52 week high of Rs. 37.90 on 10-Jun-2014 and a 52 week low of Rs. 22.25 on 07-Feb-2014.

Last one week high and low of the scrip stood at Rs. 24.95 and Rs. 22.70 respectively. The current market cap of the company is Rs. 1072.72 crore.

The promoters holding in the company stood at 74.25% while Institutions and Non-Institutions held 10.34% and 15.41% respectively.

In a bid to divest non-core assets to cut debt and complete ongoing projects, realty firm Parsvnath Developers has sold 140 acre land at Sohna, Gurgaon, to Supertech for Rs 665 crore. Of 140 acre, 100 acre is licensed and the approval for 40 acres is expected shortly.

Following this deal, Kotak Realty Fund has exited this township project. It had invested Rs 110 crore in the project in 2012. At present, Parsvnath has a debt of about Rs 1,200 crore, which will come down after this deal.

Parsvnath Developers has diversified portfolio, which includes, integrated townships, group housing, commercial complexes, hotels, IT parks, among others. The company has total developable area of over 195.82 million square feet across all real estate verticals.

Parsvnath Developers Share Price

8.05 -0.26 (-3.13%)
Aug 16, 18:01 View Price Chart
Company Name CMP
Dilip Buildcon 242.75
JMC Projects (India) 88.90
NBCC (India) 33.20
Prestige EstatesProj 467.10
DLF 379.15
View more..