Parsvanth bags DMRC mall project
Parsvnath bags the DMRC project to construct a shopping mall outside a metro station.
By PTI |
NEW DELHI: Real estate major Parsvnath Developers Ltd on Thursday said it has bagged a project from Delhi Metro Rail Corporation (DMRC) to construct a shopping mall outside a metro station at a cost of Rs 150 crore.
The company bagged the project through competitive bidding for developing a shopping mall, spread over 2.5 lakh sq ft, outside Netaji Subhash Place metro station in north Delhi, Parsvnath said in a statement.
"The project would cost about Rs 150 crore," it said, adding the mall is expected to be operational within three years.
This is the 13th project which the company is developing for DMRC. It has already entered into concession agreements to develop shopping malls on 12 stations owned by DMRC on build- operate-tranfer basis. Construction on six has been completed.
Parsvnath, which has a pan-India presence across 47 cities and 17 states, presently has 153 million sq ft of area in hand for development. The construction on 66 million sq ft of area has begun and rest would start this fiscal.
The company recorded a consolidated revenue of Rs 1,534 crore and profit of Rs 292 crore in 2006-07.
The company bagged the project through competitive bidding for developing a shopping mall, spread over 2.5 lakh sq ft, outside Netaji Subhash Place metro station in north Delhi, Parsvnath said in a statement.
"The project would cost about Rs 150 crore," it said, adding the mall is expected to be operational within three years.
This is the 13th project which the company is developing for DMRC. It has already entered into concession agreements to develop shopping malls on 12 stations owned by DMRC on build- operate-tranfer basis. Construction on six has been completed.
Parsvnath, which has a pan-India presence across 47 cities and 17 states, presently has 153 million sq ft of area in hand for development. The construction on 66 million sq ft of area has begun and rest would start this fiscal.
The company recorded a consolidated revenue of Rs 1,534 crore and profit of Rs 292 crore in 2006-07.
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