Parsvnath Developers surges on paying Rs 500.86 crore to RLDA to develop Sarai Rohilla land

23 Aug 2013

Parsvnath Developers is currently trading at Rs. 32.35, up by 0.55 points or 1.73% from its previous closing of Rs. 31.80 on the BSE.

The scrip opened at Rs. 31.85 and has touched a high and low of Rs. 33.00 and Rs. 31.50 respectively. So far 13254 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 44.25 on 28-Feb-2013 and a 52 week low of Rs. 26.65 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 32.40 and Rs. 28.60 respectively. The current market cap of the company is Rs. 1414.34 crore.

The promoters holding in the company stood at 72.98% while Institutions and Non-Institutions held 11.29% and 15.72% respectively.

Parsvnath Group, India’s leading real estate and infrastructure developer with a diversified portfolio, has paid an amount of Rs 500.86 crore to Rail Land Development Authority (RLDA), Ministry of Railways for the development of 15.27 hectares (38 acres) of railway land area situated at Sarai Rohilla-Kishanganj in Delhi. A development agreement has been executed between RLDA and Parsvnath Rail Land Project, a special purpose company (SPV) incorporated for implementing this Project on 31st May, 2013.

This Project will be developed over an area of about 15.27 hectares (38 acres), comprising of luxury air-conditioned residential apartments, commercial/ shopping areas, railway housing, railway service building & common facilities, hospital/school and other amenities, state of the art club with gymnasium and sports facilities, etc.

Parsvnath Developers is one of India’s leading real estate developers. The company has emerged as one of the most progressive and multi-faceted real estate and construction entities in the country.

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