Parsvnath Group with more than 29 years of experience in real estate industry is present in all verticals and has completed 48 projects. PDL is currently working on 49 projects with a total area of 76.00 mn. sq ft. (7.06 mn. sq. mt.) The company’s business portfolio includes Residential, Commercial (office and retail), DMRC Projects, Hotels, SEZs, IT Parks.
Brief us about your current and future projects?
There are 50 projects with a total area of 75.7M sq ft. which are under development at various construction phases, out of which, 36.9M sq.ft. has been sold as of Sept. 30, 2013.
A. Residential Project, Rani Jhansi
- Road, Near Connaught Place – Delhi
- First of its kind project in Delhi and the city’s most premium Residential Project
- Total developable area available would be around 4MM sq. ft.
- The development would consist of luxury residential apartments, commercial space and other civic amenities like medical and educational facilities
- The project will be jointly developed by Parsvnath Developers Ltd. and Red Fort India Real Estate Fund, through an SPV
B. Commercial Complex, 27 K.G. Marg, New Delhi
This will be World-class centrally air- conditioned freehold commercial complex with 100% power back-up and more than 200 fully automated mechanized car parking. It will be an Eco friendly new generation green building, offering large floor plate.
How was the year 2013 for real estate sector? What is your outlook for FY14?
Real estate is one such sector which is completely driven by market sentiments. In last 6-7 months, demand in the market has revived. Industry also saw some new launches. Government agencies and authorities also came out with some favorable steps like the Regulatory Bill and REITs which has further strengthened sentiments.
Going forward, the trend is expected to continue for another 4-5 months. However, it will be interesting to see how market reacts post general elections. Though, I am confident that with the kind of reforms proposed by Union Government over FDI and Retail, real estate sector is going to witness fairly transparent and shiny days in the year 2014 with many new launches in affordable and mid premium segments in areas like Greater Noida, Sohna Road New Faridabad and Manesar Sonepat/ Dharuhera. Commercial space will also witness a boom with the expansion of Delhi Metro in NCR. Overall the market is expected to see an uptrend in terms of demand and supply
What are your projects launches for FY14?
The number of the projects in pipe line which include Residential, Housing, Office Buildings and Township Projects on selective basis.
What is the total area under development?
There are 50 projects with a total area of 75.7M sq ft. which are in development or construction.
What is your outlook on real estate prices?
Buyers are currently in a wait and watch mode. They are probably waiting for general elections to get over. Real estate prices till that time will remain stable. The next half of 2014 is expected to witness an increase in the realty prices.
What are your investment plans?
Parsvnath Developers Limited will concentrate to accelerate possession of projects and follow the consolidation mode before going in for New projects in pipeline.
About Mr. Pradeep Jain:
Mr. Pradeep Jain, Chairman, Parsvnath Group ventured into the real estate sector long back when the sector was in its nascent stage. Having understood the finer norms of housing business he started Parsvnath and Associates Pvt. Ltd. in 1984. With a vast experience in the real estate sector, Mr. Jain visualized the lucrative opportunities in the sector and it was his vision that gave birth to Parsvnath Group which was incorporated in 1990. Over the years, Mr. Jain’s expertise in the realty sector has helped Parsvnath Group to explore opportunities to foray into infrastructure domain, hospitality and entertainment avenues. Pradeep Jain is on board as chairman, Delhi Stock Exchange. He was the Chairman, CREDAI National, an apex body of developers. Earlier he was President, CREDAI-NCR, and was the sr. Vice President, NAREDCO for the year 2007-08. He is also a governing body member with Associated Chamber of Commerce & Industry (ASSOCHAM), PHDCCI, PHD, Rural Development Foundation & Family Welfare, Delhi REDCO, Rajasthan Real Estate Development Council (RAJREDCO) and several other associations. In year 2006-07, he has also been a member with Confederation of Indian Industry (CII).