NEW DELHI (INDIA): Realty firm Parsvnath Developers Ltd has reported Rs 6.21 crore standalone net loss during the second quarter of the current fiscal.
It had posted net loss of Rs 12.26 crore in the same period of last financial year, 2015-16.
Income from operations remained flat at Rs 48.9 crore in the July-September quarter of 2016-17, as against Rs 48.81 crore in the year-ago period.
Parsvnath Chairman Pradeep Jain said: “The slew of measures taken by the government in this year like the implementation of RERA, rolling out of seventh pay commission would reap benefits in the coming quarters.”
Besides, he added that “there will be an uptake in demand for real estate products since real estate has always been an attractive investment destination, even an aspiration of Indians to own their dream house”.
The company has completed and delivered 57 projects with a total area of 25.86 million sq ft and is currently working on 45 projects with a total area of 54.13 million sq ft.
Source: Press Trust of India