Parsvnath to build a group housing project at Indore

NEW DELHI: Realty firm Parsvnath Developers Ltd today said it would build a group housing project at Indore in Madhya Pradesh, with an expected realisation of about Rs 60 crore.

"The realisation from the project is approximately Rs 60 crore and is scheduled to be completed by the end of 2011," the company said in a statement.

The group housing project 'Parsvnath Premier' is spread over 6.3 acres and is part of a 200-acre integrated township. The company would develop 300 units covering 4.11 lakh sq ft of saleable area.

In the township, Parsvnath is also coming up with an IT/ ITeS Special Economic Zone (SEZ) spread over 76 acres. The SEZ has already been notified by the Centre.

In Madhya Pradesh, it is also developing another township at Ujjain on 100 acres of area.

Parsvnath is currently developing 114 projects across the country covering 211.32 million sq ft of saleable area.

For the year ended March 2008, it posted a consolidated revenue of Rs 1,837.12 crore and a net profit of Rs 424.39
crore.