Parsvnath sees revenue of Rs 300 crore annually from Delhi Metro retail business

27 Aug 2013

Real estate player Parsvnath is expected to get revenue of around Rs 300 crore annually from retail shops at Delhi Metro, if the occupancy touches 90%. It sees solid cash flow generation from the rentals it receives from retailers such as McDonald, KFC, Axis Bank and Carrefour. The company has spent total of Rs 645 crore till the date and will spend the balance Rs 200 crore over the next two to three years.

At present, the real estate player is developing 15 projects comprising one commercial office space, two metro stations and 12 malls outside the metro stations. Already, it is operating a total of 0.38 million sq feet in seven stations.

 

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