Parsvnath Developers Ltd - Stock Valuation and Financial Performance

BSE: 532780 | NSE: PARSVNATH | Construction - Real Estate | Small Cap

Parsvnath Developers Share Price

12.44 -0.30 -2.35%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on Parsvnath Developers

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Parsvnath Developers stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
541.4 Cr.
52-wk low:
7.1
52-wk high:
17.3

Is Parsvnath Developers Ltd an attractive stock to invest in?

1. Is Parsvnath Developers Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Parsvnath Developers Ltd is a average quality company.

2. Is Parsvnath Developers Ltd undervalued or overvalued?

The key valuation ratios of Parsvnath Developers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Parsvnath Developers Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Parsvnath Developers Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Parsvnath Developers:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Parsvnath Developers Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 2.8%8.4%1.9%1%-1.3%-3.2%1.3%-3%-4.1%-13.2%-
Value Creation
Index
-0.8-0.4-0.9-0.9-1.1-1.2-0.9-1.2-1.3-1.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4287193062491088211,116288745287289
Sales YoY Gr.-67.9%-57.5%-18.5%-56.5%657.3%35.9%-74.2%158.9%-61.5%-
Adj EPS 0.55.50-0.8-3.3-5.6-3.4-5.6-4.8-9.1-9.7
YoY Gr.-939.6%-100%NANANANANANANA-
BVPS (₹) 61.659.659.658.856.13633.928.323.513.13.4
Adj Net
Profit
23.22400.1-35.7-144-243-146-242-210-394-423
Cash Flow from Ops. 258533-2.249.6-1411,218486200296419-
Debt/CF from Ops. 5.82.7-68934.1-15.11.52.97.14.62.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -4.4%21.5%-36.4%-61.5%
Adj EPS -237.1%NANANA
BVPS-15.8%-25.2%-27.1%-44.2%
Share Price -8.5% 19% -2.1% 61.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.99.10-1.4-5.8-12.2-9.6-17.9-18.6-49.5-117.3
Op. Profit
Mgn %
34.941.315.420.3-50.3-13.43-19.1-8.4-45.2-6.2
Net Profit
Mgn %
5.433.30-14.3-133.2-29.6-13.1-84.1-28.2-137.5-146.2
Debt to
Equity
0.60.60.60.70.91.211.21.31.92.8
Working Cap
Days
4,4972,4404,9876,15815,1902,1591,5195,2561,7883,8852,358
Cash Conv.
Cycle
9101,4038931,12,78315,1762,0619533,7291,1512,671-562

Recent Performance Summary

Sales growth is good in last 4 quarters at 89.09%

Return on Equity is Poor

Sales growth has been subdued in last 3 years -36.43%

Debt to equity has increased versus last 3 years average to 1.85

Latest Financials - Parsvnath Developers Ltd.

Standalone Consolidated
TTM EPS (₹) -9.7 -13.7
TTM Sales (₹ Cr.) 289 462
BVPS (₹.) 3.4 -39
Reserves (₹ Cr.) -69 -1,915
P/BV 3.64 -0.32
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 7.05 / 17.29
All Time Low / High (₹) 1.20 / 299.00
Market Cap (₹ Cr.) 541
Equity (₹ Cr.) 217.6
Face Value (₹) 5
Industry PE 86.9

Management X-Ray of Parsvnath Developers:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *35.8135.8135.2733.0333.0333.0333.0129.9729.9729.97
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Parsvnath Developers

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales4287193062491088211,116288745287
Operating Expenses 2794222591991639311,082343807418
Manufacturing Costs5847656570763413413751
Material Costs1322921065516796929182636315
Employee Cost 44363529312520131212
Other Costs 464753494534100142241
Operating Profit 1492974751-55-11034-55-63-131
Operating Profit Margin (%) 34.9%41.3%15.3%20.3%-50.4%-13.4%3.0%-19.1%-8.4%-45.8%
Other Income 404240255212122501233
Interest 131148109109128164268227151185
Depreciation 124991195533
Exceptional Items 0-4700000000-81
Profit Before Tax 46-283-31-42-141-271-117-237-205-367
Tax 22-196-33-7-24-28-245485
Profit After Tax 23-882-35-117-243-93-242-209-452
PAT Margin (%) 5.5%-12.2%0.7%-14.0%-108.0%-29.6%-8.3%-84.1%-28.1%-157.0%
Adjusted EPS (₹)0.5-2.00.1-0.8-2.7-5.6-2.1-5.6-4.8-10.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 2,6812,5932,5942,5592,4411,5671,4731,2321,023571
Share Capital 218218218218218218218218218218
Reserves 2,4642,3762,3762,3412,2241,3491,2561,014806354
Minority Interest0000000000
Debt1,3231,1671,3131,5011,4781,206887860795612
Long Term Debt5957999551,0961,110823495490463452
Short Term Debt727368358406367384392370332159
Trade Payables907593632633689711761627619641
Others Liabilities 1,6501,2658169521,4343,3983,0273,2872,7422,740
Total Liabilities 6,5615,6195,3555,6456,0426,8826,1486,0065,1794,564

Fixed Assets

Gross Block258255105183183351551554851
Accumulated Depreciation141140917281221291719
Net Fixed Assets11711496166156231351273132
CWIP 526544575528598394454497139140
Investments 5135135145345289178158538621,058
Inventories2,9912,1452,3732,6292,9843,9553,2182,9422,3562,033
Trade Receivables578608614586586269261313276280
Cash Equivalents 761627959618559685965
Others Assets1,7611,5321,1041,1441,1291,2391,2061,2071,458957
Total Assets 6,5615,6195,3555,6456,0426,8826,1486,0065,1794,564

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 258533-250-1411,218486200296419
PBT 46-283-31-42-141-271-118-236-204-367
Adjustment 104111849486161152284218250
Changes in Working Capital 135748-512-831333457152285537
Tax Paid -27-42-5-4-4-5-50-40
Cash Flow From Investing Activity -86-103-2-16-459228-40-52-4
Capex -45-19-36-31-70-87-55-34-53-6
Net Investments -620-100-289-40-41-9-7
Others 208402954-8332335109
Cash Flow From Financing Activity -179-443-67-63156-734-738-156-247-420
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -68311120140476-301-43112-27-11
Interest Paid -217-396-177-251-281-449-315-146-201-178
Dividend Paid 0000000000
Others 106-359-1048-38168-22-19-231
Net Cash Flow -780-67-16025-244-3-4
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.88-3.320.08-1.35-4.69-12.11-6.13-17.89-18.55-56.68
ROCE (%)4.28-3.291.911.61-0.3-2.694.78-0.34-2.13-9.08
Asset Turnover Ratio0.070.120.060.050.020.130.170.050.130.06
PAT to CFO Conversion(x)11.22N/A-1N/AN/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days5133017298781,97319087364144354
Inventory Days2,5241,3032,6953,6609,4471,5421,1733,9081,2982,793
Payable Days2,6179372,1104,17503212891,393357731

Parsvnath Developers Ltd Stock News

Parsvnath Developers Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Parsvnath Developers on 12-Jul-2024 16:01 is ₹12.44.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Jul-2024 16:01 the market cap of Parsvnath Developers stood at ₹541.4.
The latest P/E ratio of Parsvnath Developers as of 12-Jul-2024 16:01 is 0.00.
The latest P/B ratio of Parsvnath Developers as of 12-Jul-2024 16:01 is 3.64.
The 52-week high of Parsvnath Developers is ₹17.29 and the 52-week low is ₹7.05.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Parsvnath Developers is ₹289.0 ( Cr.) .

About Parsvnath Developers Ltd

Parsvnath Developers is one of India’s leading real estate developers founded by Pradeep Kumar Jain. The company has an experience of more than two decades in offering state-of-the-art development and construction. The company was incorporated on July 24, 1990 under the Companies Act, 1956 as ‘Parsvnath Developers Limited’ and obtained the Certificate of Commencement of Business on November 20, 1990.

Over the past two decades, the company has emerged as one of the most progressive and multi-faceted real estate and construction entities in the country. Through the years, Parsvnath have stayed true to its commitment to `building a better world’ by transforming barren tracts into landscaped green belts housing world class commercial, residential and recreational properties.

With a pan-India presence in over 51 cities in 18 states, it is steadfastly focused on continuing to create and build dreamscapes that transform lives and the world around us – be it through contemporary residential spaces, state-of-the-art office complexes, luxurious shopping malls and hypermarkets, posh hotels, futuristic multiplexes, and ultra modern IT Parks and special economic zones. They are one of the most diversified and widespread real estate developers in India with presence across all real estate verticals.

Parsvnath is a company whose business philosophy lies in the commitment to creating architectural marvels using state-of-the-art technology and global architectural, construction and business practices.The company is passionate about providing cost-effective and holistic solutions to customers while creating and adding value to the partners and stakeholders. It’s unwavering focus on these factors catapulted Parsvnath Developers into the top echelons of the Indian Real Estate and Construction Industry in 2007.

There are few parallels in the annals of the Indian real estate and construction industry that emulate the success trail blazed by Parsvnath Developers. Over the past two decades, the company has emerged as one of the most progressive and multi-faceted real estate and construction entities in the country. Through the years, Parsvnath has stayed true to its commitment to `building a better world’ by transforming barren tracts into landscaped green belts housing world class commercial, residential and recreational properties.

The company's project ranges from hotels, residential townships, metro malls, retail outlets, IT parks to SEZs

The subsidiaries of the company are: Parsvnath Hotels, Parsvnath Assets, Parsvnath Retail, Parsvnath SEZ,  Parsvnath Telecom.

Milestones achieved

  • 2014 - Parsvnath Developers Ltd’s Residential Project, Parsvnath La-Tropicana, New Delhi was ranked among the “Most Promising Projects of North India 2014-15” by Estate Avenues on February 01, 2014.
  • 2013 - Parsvnath Developers Ltd., was given MERIT AWARD BY APREA (Asia Pacific Real Estate Association, Singapore) in the Category - “EMERGING MARKETS - PROPERTY VALUATION” for listed Real Estate Entities 2013 in recognition of its commitment to enhancing the transparency and comparability of public real estate markets in the Asia Pacific Region.

    Parsvnath Developers Ltd’s Residential Project, Parsvnath La-Tropicana, New Delhi was awarded by CNBC (under category the best 50% Complete Residentail Project under Ultra Luxary Segment in NCR) on December 22, 2013.

    Parsvnath Developers Ltd’s Residential Project, Parsvnath Planet, Lucknow was awarded by CNBC (under category Special Recognition in Lucknow City under best 50% Complete Residential Project under Mid-Segemnt) on December 22, 2013.

    Parsvnath Developers Ltd., have been received Real Estate Award for “Innovative Real Estate Marketing Campaign of the year 2013” by ABP News.
  • 2012 - Parsvnath Developers Ltd’s Residential Project, Parsvnath Exotica, Gurgaon was awarded by CNBC as “Most Luxurious Project” (under category more than 70% complete) on 22nd December, 2012.
  • 2010- Parsvnath - Parsvnath Developers Ltd bagged Occupation Certificate of Parsvnath.
  • July 2008: Parsvnath Developers announced an association with Sabeer Bhatia and HSIIDC jointly promoted Nanocity Haryana Infrastructure to develop a Knowledge City spread over an area of 11,000 acres in Panchkula near Chandigarh. The city named as “Parsvnath Nano city” is envisaged to sustain modern lifestyle and will have world-class infrastructure. It is a public-private partnership project, in which Haryana Government through HSIIDC will have 10% equity stake, Parsvnath Developers will have 38% equity stake and the remaining 52% will be with Sabeer Bhatia promoted group.
  • May 2008: The company strategically identified a plot situated at 27, Kasturba Gandhi Marg through a subsidiary “Primetime Realtors” to build luxury shopping and state-of-the-art offices.
  • April 2008: Strategic tie-up for first FDI worth  Rs186 crore in Parsvnath Project. Parsvnath tied up with two Saffron Group funds for its first Mumbai project for the development of BEST bus depot near the Bandra Kurla Complex in Mumbai.
  • April 2008: 'Foundation laying of star rated project - Parsvnath PRIDEASIA' at Rajiv Gandhi Technology Park Chandigarh.
  • February 2008: Announced JV of Parsvnath Hotels (PHL) and Royal Orchid Hotels (ROHL) under the name of “Parsvnath Royal Orchid Hotels” to develop 10 projects. PHL own & develop these projects with JV company to operate.
  • February 2008: Announced JV of Parsvnath Hotels (PHL), a subsidiary of Parsvnath Developers with Fortune Park Hotels (FPHL), a wholly owned subsidiary of ITC to develop 50 Projects.
  • December 2007: Incorporated subsidiary company “Parsvnath Assets.”
  • November 2007: Incorporated subsidiary companies “Parsvnath Retail”, Parsvnath Developers Pte” for Singapore, “Parsvnath Hotels.”
  • October 2007: Announced tie up with Al-Hassan Group of Industries, Oman, Muscat to undertake the offshore real estate development.
  • August 2007: Parsvnath Developers incorporated Parsvnath Telecom  and was the first real. estate company to gauge the business opportunity and planned to diversify its business portfolio and went ahead to apply for telecom license for 22 circles.
  • November 2006: Came out with an IPO clearly witnessing a strong and healthy investor’s response. The issue was oversubscribed by more than 55 times.
  • August 2006 Received integrated management system certification comprising of ISO 9001:2000, ISO 14001:2004 and OHSAS 18001:1999 certification from RINA in relation to design, development, construction and marketing of infrastructures.
  • June 2006- November 2006 Received formal approval of the GOI for the development of four SEZ projects and in principle approval in relation to the development of seven SEZ projects
  • June 2006 The company's bid for the development of an integrated facility at Rajiv Gandhi Chandigarh Technology Park on 500,960.80 sq. mts. of land was accepted by the Chandigarh Housing Board subsequent to which the company has entered into a development agreement and lease deed with the Chandigarh Housing Board.
  • January 2006 – August 2006 Secured acceptance of bid from the DMRC for 2 property development projects in Delhi (Metro Stations at Azadpur & Commonwealth village site near Akshardham).
  • 2005 “Parsvnath Exotica” Gurgaon: Launched the first of its kind mega and prestigious project.
  • 2004 – 2006 Secured ten concessions from the DMRC for the development of malls at metro stations.
  • December 2005 Received certificate from the ICL certifying compliance with the Environment Management System Standard ISO 14001.
  • September 2005 Received upgraded rating DR2- ICRA-NAREDCO rating from ICRA indicating strong project development capacity.
  • November 2002 Received ISO 9001:2000 rating from the International Certifications (“ICL”) in relation to the development, construction and marketing of infrastructures.
  • March 2002 Received DR3 ICRA-NAREDCO rating from ICRA indicating moderate project development capacity. Parsvnath Developers was the first real estate developer whose grading was published under by ICRA-NAREDCO.
  • October 2000 The company's flagship housing project “Parsvnath Estate” in Greater Noida was launched which had 277 dwelling units in addition to 20 shops with a total built up area of about 4 Lac sq. ft.
  • 1998 Launched a commercial project “Parsvnath Plaza” in Saharanpur with a saleable area of 1, 20, 000 sq. ft.
  • 1994 Launched 1st large commercial (Shopping Mall) project in Moradabad, Parsvnath Plaza – I, which was completed in three years and handed over units during December, 1997.
  • July 1990 Parsvnath Developers was incorporated.
  • May 1984: With no capital in hand Pradeep Kumar Jain migrated to Delhi and started as a broker for property selling of some established names. He also learnt and assisted these companies in assembling land parcels. Having understood the finer norms of housing business Jain started Parasnath and Associates Pvt. Ltd.

Future plans

Parsvnath Developers is planning to invest Rs 135 crore in building an information technology park in Gurgaon, which is expected to be operational in three years’ time. The IT Park, will have a floor space of 75,000 square feet.

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