Parsvnath up at Rs 359.70 on SEZ project

MUMBAI: Parsvnath Developers Ltd has received the final notification from the central government for the setting up of IT / ITES special economic zone at Dehradun, Uttaranchal.

The company has three notified product specific SEZs for IT / ITES sectors at Indore, Gurgaon and Debradun. The project will be executed by the company's subsidiary, Parsvnath SEZ Ltd.

The total area occupied by Dehradun zone will be 35 acres with a total developable area of 3.8 million square feet. The company expects the investment will be Rs 1,050 crore.

The company has two approved special economic zones at Kochi and Hyderabad with a total developable area of 11.11 million sq. ft., which are awaiting final approval from the central government. It also has six special economic zones with total developable area of 270 million sq. ft., which have received in-principle approval. At 1:58 pm, Parsvnath Developers shares were up 3.38 at Rs 359.70 on BSE.