Realty giant Parsvnath to invest USD 4 billion

Premier realty firm Parsvnath Developers Ltd is set to develop their existing land bank over the next five years by investing over USD 4 billion. Launching over 100 real estate projects in all its segments, they aim at developing their saleable land bank of 153 million sq feet.

Excellent quality construction and commitment have always been the forte
of one of the leading property developers in India. They propose to invest
the capital in the development of 32 residential projects, 22 commercial
ventures, 4 IT parks, 4 SEZs, 18 townships, and 17 hotels.

They have 6 projects
lined up for Delhi Metro as well.
Speaking in terms of growth, the company had reported a profit of Rs 292
crore in the financial year 2006-07 at an annual growth rate of 110 per
cent.

Apart from developing its existing land bank, Parsvnath Developers
intend to further add 170 million sq feet as part of their 16 upcoming
SEZ projects.

Going by their proposed plan, Parsvanath aims to widen its
reach to other parts of the country and accomplish development projects
in all verticals, in addition to developing its current land bank.

In a statement
to the media, Parsvnath Developers Chairman Pradeep Jain said that they
shall achieve their set goals by fiscal 2011-12.