New Delhi, May 24, 2016 :
ParsvnathDevelopers Ltd., one of India’s leading Real Estate and Infrastructure
Development Companies today
reported consolidated revenue (including other income) of Rs. 427 Cr.
for the year ended March 31, 2016. EBIDTA and EBIDTA margins stood at
Rs. 120 Cr.
and 28 % respectively. Loss after tax
and minority interest was at Rs. 36 cr. for Year ended March 31, 2016.
Financial
Highlights for the year ended 31st March 2016
Particulars
|
Q4FY16
|
Q4FY15
|
FY2016
|
FY2015
|
Revenue
|
84
|
273
|
427
|
780
|
EBIDTA
|
23
|
152
|
120
|
342
|
EBIDTA margins
|
27%
|
56%
|
28%
|
44%
|
Profit/(Loss)
before Exceptional Items & Tax
|
( 24 )
|
99
|
( 88 )
|
157
|
Less: Exceptional Items
|
-
|
470
|
-
|
470
|
Profit/ (loss) before Tax
|
( 24 )
|
( 371 )
|
( 88 )
|
( 313 )
|
Tax
|
( 27 )
|
( 226 )
|
( 40 )
|
( 200 )
|
Profit /(loss) after Tax
|
3
|
( 145 )
|
( 48 )
|
( 113 )
|
Minority Interest
|
( 3 )
|
( 4 )
|
( 12 )
|
( 5 )
|
Profit/(loss)
after Tax & Minority Interest
|
6
|
( 141 )
|
( 36 )
|
( 108 )
|
(Figures
in Rs crore on consolidated basis)
Operation/Business Highlights/Developments in FY16
A.
The booking made during the year is 9,75,000 sq.
ft of area (90,544 sq. mtr.) as compared to 12,00,000 sq. ft (1,11,506 sq. mtr
) in the previous year.
B.
Possession of around 1200 units handed over in
this fiscal as compared to around 1000 units in the previous year.
C. Pursuant to the
Security Purchase Agreement dated May
23, 2016 the Company has acquired 12,25,000 Class B Shares and 1,54,17,500
Fully Convertible Debentures of Parsvnath Estate Developers Private Limited
(PEDPL), a subsidiary company and SPV
implementing the project for
development of an office complex on a plot of land admeasuring 15,583.83 sq.
mtrs. situated at Bhai Veer Singh Marg, New Delhi from City Centre Monuments,
Mauritius, consequent upon which PEDPL has become wholly owned subsidiary of
the Company.
D.
Red Fort Capital Parsvnath Towers at Bhai Veer
Singh Marg: Phase-I of the commercial project has been completed, is fully
functional and around 75% of the area has been leased out to brands like SBI,
Axis Bank, Aditya Birla, Loreal, Thomsan Reuters, ICICI Prudential etc for
which the revenue cycle has already started. The construction of Phase II of
the project is in full swing and is expected to be completed soon which will
enable the project to have a consistent & strong flow of revenue from
leasing of the space.
E.
Metro
Cash & Carry opened its second outlet in Delhi at Parsvnath Mall in
Seelampur Metro Station.
F.
Parsvnath Mall at Akshardham Metro Station, Delhi
added prominent brands ranging from automobiles to food-chain brands like
Haldiram’s, Nexus, Savemax, Tata Concord etc.
G.
PDL launched “Parsvnath Aakanksha” (2/3 BHK Floors) in a fully
functional, integrated township ‘Parsvnath City, Jodhpur’.
Awards & Accolades:
H.
Won ‘Developer of the Year Integrated Township’
under ‘Developers Awards’ at the annual Estate Avenues North India Real Estate
Awards 2015.
I.
Mr. Pradeep Jain was
felicitated with ‘Construction World Architect & Builder Award’ for decade
of excellence, best practice, innovation in construction field at 10th CWAB
Awards for excellence.
J.
PDL’s key
commercial-cum office project ‘Red Fort Parsvnath Towers, Bhai Veer Singh Marg’
won the coveted ‘Smart Project of the Year’ award at the ‘5th Annual
Construction Week India Awards 2015’
K. PDL was conferred with the ‘Developer of the Year -
Commercial’ award at the Realty Plus Excellence Awards (North) 2015 for its key
commercial project ‘Red Fort Parsvnath Towers, Bhai Veer Singh Marg’. Also
recognizing the contributions of Mr. Pradeep Jain in the realty sector, he was
presented the ‘Scroll of Honour’.
L. In the inaugural edition of India International
Property Awards (IIPA) 2015 – India’s first People’s choice real estate awards,
PDL received award for the category ‘Front Runner of Indian Realty’.
M.
Franchise India at its 8th Estate
Awards felicitated Mr. Pradeep Jain with the coveted ‘Lifetime Achievement
Award’ for his immense contribution in Real Estate sector.
Commenting on the results and
future outlook, Mr. Pradeep Jain, Chairman, Parsvnath Group, said, “The year has been challenging for the
residential market due to tepid demand in both premium and luxury formats.
However, demand for the units in the affordable segment (below Rs.50 lacs) did
show moderate improvement.
On the company’s front, various proactive steps taken have resulted
in improvement in its performance. During the year, our focus was clearly on
the fast execution of our on-going projects and in the process we have tried to
curtail the completion time as much as possible to fulfill our commitment to
our esteemed customers.
I am happy to make a mention that amongst the company’s major four business verticals,
i.e. housing, retail, townships, and commercial, the commercial real estate
demand is witnessing a promising growth lately especially for the quality,
ready commercial property.” Mr.
Jain added.
Overview
of Parsvnath Developers Limited:-
Parsvnath Developers Limited (PDL), one of India's
leading real estate and infrastructure development companies, having a rich
experience of more than 25 years has Pan India presence spread across 41 cities
and 15 states. The Company's diversified business portfolio comprises of
Residential, Commercial (Office and Retail), DMRC projects, Hotels, SEZs, IT
Parks and Third Party Construction.
PDL has to its credit several architectural marvels
where it has successfully transformed simple barren tracts of land into
beautiful spaces, both residential and commercial. It is the first real estate
company in India to have integrated the ISO 9001, 14001 and OHSAS 18001
Certification processes.
The Company has till date completed 57 projects,
measuring 25.35 mn. sq. ft of developed area. Currently, 44 projects are under
construction which on completion will deliver 53.39 mn. sq. ft. of developed
area.
More
information about the company is available on www.parsvnath.com