Tag: Parsvnath Developers

Rs500cr Housing Project in Gurgaon to be Built by Assotech and Sunapollo

Real estate Company Assotech and private equity firm Sun-Apollo Friday announced the development of a housing project in Gurgaon at an investment of about Rs 500 crore over the next three years. Sun-Apollo Real Estate Advisors has invested Rs 75 crore to pick up nearly 50 percent stake in Assotech’s subsidiary firm which would develop […]

Sahara and ICICI Bank eye Parsvnath’s prime land in Delhi.

Real estate major Parsvnath Developers may soon be able to reduce a significant chunk of its debt, thanks to certain corporate giants showing interest in buying a prime piece of property it owns in the national capital. The Sahara Group is engaged in discussions with Parsvnath to buy its commercial land near Connaught Place in […]

Realty developers to meet RBI Governor for more packages

Members from the Confederation of Real Estate Developers Association of India (CREDAI) will be meeting the RBI Governor D Subbarao next week to demand more Government support for the struggling real estate sector. The developers are likely to push for lower interest rates and restructured debt for the developers. Speaking to The Indian Express, Pradeep […]

Realty cos fight shy of price cuts

Real estate companies seem little inclined to listen to the government’s call to reduce prices. Even as realty firms such as DLF, Parsvnath and Emaar MGF demand rollback of taxes, they are reluctant to commit any price cut. An association of developers, Confederation of Real Estate Developers Association of India (Credai), has asked member developers […]

Parsvnath says festival sales down by half

Sales at Parsvnath Developers’ in the festival season of Diwali are down to half from a year ago, but the real estate developer does not plan price cuts to boost sales, its chairman said. High interest rates on home loans and central bank rules forcing banks to assign a higher risk weight to real estate […]

Parsvnath To Go Slow On Land Buys

Parsvnath Developers, the Delhi-based realtor, plans to invest up to Rs 500 crore for land acquisitions in fiscal 2009. However, it will not be aggressive in ramping up its land bank and would acquire land for its projects. In its latest quarter, the BSE-listed Parsvnath added 66 acres of land. Pradeep Jain, chairman at Parsvnath, […]

Parsvnath Plans To Invest Rs 500 Crore For Land Acquisitions In FY 2009

Parsvnath Developers, the Delhi-based realtor, plans to invest up to Rs 500 crore for land acquisitions in fiscal 2009. However, it will not be aggressive in ramping up its land bank and would acquire land for its projects. In its latest quarter, the BSE-listed Parsvnath added 66 acres of land. Pradeep Jain, chairman at Parsvnath, […]

Parsvnath Tied Up With Hotmail Co-founder

Real estate developer Parsvnath on 15th July tied up with Sabeer Bhatia, co-founder of  Hotmail, to develop a Rs 50,000-crore knowledge city project in Haryana. The Parsvnath Nano City project would come up in Panchkula near Chandigarh. The realty firm would invest about Rs 400 crore in the form of equity and debt in the […]

DLF, Unitech Shares Decline

DLF Ltd. and Unitech Ltd. fell in Mumbai trading after Credit Suisse Group cut its ratings for the stocks on concern new projects may be delayed as demand wanes and funding costs rise. DLF dropped 2.4%, the most in eight days, to 446 rupees at 10:40 a.m. local time. Unitech, based in Gurgaon, declined 2.5% […]

Real Estate Sector Facing Major Cash Crunch

The latest battle in the real estate sector has started taking a toll. Almost all large developers are now facing a severe cash crunch and finding it difficult to complete their ongoing projects. In fact, the situation is so bad that most of them have reported a 50-70% cash shortfall. Industry sources said that the […]

Realty Scrips Have A Long Way Ahead To Recovery

For all the talk about a slowdown in the economy, real estate prices in most parts of the country have not corrected as much as most prospective buyers would have liked them to. But, shares of most real estate companies are not finding any takers even after falling nearly 50% from their record highs in […]

Stock To Watch

MUMBAI: Equities are seen opening flat-to-negative on Tuesday amid quiet global cues. Crude oil’s record high spike to the $127 mark will weigh on sentiment. Essar Oil’s refinery expansion project at Vadinar may turn out to be the only such upcoming project to be denied a 100% tax holiday available to refinery projects. This follows […]

Parsvnath Developers Spread Wings

21 January 2008, New Delhi: Parsvnath Developers has announced an investment of Rs 60,000 crore in coming five years in diversified areas such as SEZs, airports, express ways and retails business. Mr. Pradeep Jain, Chairman of Parsvnath Developers said, “We shall be bidding for upcoming airports such as Udaipur, Greater Noida, Maharashtra and other states. […]