Parsvnath up on SEZ approval

MUMBAI: Parsvnath Developers rose 3% to Rs 311.45 on receiving government’s final notification for its proposed IT/ITES special economic zone in Gurgaon.

The company has already received the go-ahead for an SEZ in Indore. Both the projects will be developed by subsidiary Parsvnath SEZ Ltd.

The Gurgaon SEZ will have a developable area of 10 million square feet. The project will be completed within 36 months.

The two notified SEZs have a developable area of around 16.62 million square feet.

Parsvnath Developers has three formally approved SEZs at Dehradun, Kochi and Hyderabad with total developable area of 11.70 million square feet, for which notifications are awaited.

It also has seven SEZs with total developable area of 170 million square feet which have received in- principle approval from the government.

At 11:29 am on BSE, Parsvnath share was at Rs 310.80, up 2.78 per cent from Friday's close. END