Parsvnath Developers Ltd

Parsvnath Developers Limited (PDL) is one of India's leading real estate developers with an experience of more than two decades in offering state-of-the-art development and construction. The Company was incorporated in 24th July of the year 1990 and obtained the Certificate of Commencement of Business in 20th November of the same year 1990. PDL is developing 114 mega projects spanning 211.32 million square feet and also have presence in 51 cities and 18 states across the country. As a quality policy, PDL is the first real estate company to have integrated with ISO 9001, 14001 and OHSAS 18001. The export facility project, situated in Niryat Nagar, Moradabad was commenced in April of the year 1999, which covered area of approximately 75,000 square feet. In the same year, month of May, the company had commenced Platinum Floors & Platinum Greens Project, Ardee City at Gurgaon. It was Phase I huge and prestigious housing project spread over 350 acres. The 3-Star Hotel Complex on a 5-acre plot, in the midst of verdant surroundings, Moradabad total covered area of 170,000 square feet and designed on the most modern of concepts with all facilities was commenced in July of the year 2000. To indicate the moderate project development capacity, ICRA Limited gave DR3 ICRA-NAREDCO rating to the company in March of the year 2002. PDL was the first real estate developer whose grading was published under by ICRA-NAREDCO. In the same year, the month of November, the company had obtained ISO 9001:2000 certifications from the International Certifications Limited (ICL) in relation to the development, construction and marketing of infrastructures. Again in September of the year 2005, PDL had received upgraded rating DR2- ICRA-NAREDCO from ICRA Limited indicating strong project development capacity. During December of the same year 2005 received certificate from the ICL certifying compliance with the Environment Management System Standard ISO 14001. PDL had signed Memorandum of Understanding (MoU) with ICLEI-Local Government for Sustainability, South Asia, India in the year 2006 to develop and maintain a framework of co-operation in the project activities to improve renewable energy and energy efficiency in large-scale infrastructure, housing, commercial, SEZs and etc projects. During the year 2006-07, the company had won major projects like the development of Multimedia-cum-film city centre at Sarangpur in Chandigarh at a total cost of approximately Rs. 5000 Millions and also initiated a 5-star Hotel and Multiplex-cum-Commercial Mall project at Vejalpur in Ahmedabad besides, the launch of Parsvnath City, a high end residential township at Dharuhera in Haryana at an approximate cost of Rs. 4580 Millions. In the same year of 2006-07, PDL had incorporated two Subsidiary companies as Special Purpose Vehicles, viz. Parsvnath SEZ Ltd. to develop Special Economic Zones (SEZs) and Parsvnath Film City Ltd. to develop film city project bagged from the Chandigarh Administration, Chandigarh. Besides this, Parsvnath Landmark Developers Pvt. Ltd., the erstwhile Joint Venture Company engaged in real estate development business became a Wholly Owned Subsidiary of the Company. The Company had signed a MoU with Gujarat Urban Development Company Limited (GUDC) in February of the year 2007 with a view to participate in various real estate projects and development in the state of Gujarat. In line with its foray into the hospitality sector, The Company made a joint venture through its wholly owned subsidiary, Parsvnath Hotels Ltd (PHL) with Royal Orchid Hotels Limited (ROHL) in February of the year 2008. PDL had launched its first integrated group housing and commercial mall project in Jamnagar during April of the year 2008 and also in the same period the company had inked an agreement with two Saffron Group managed funds, Yatra Capital Limited and Saffron India Real Estate Fund I (SIREF I), for the development of BEST bus depot near the Bandra Kurla Complex in Mumbai. During June of the year 2008, the company had received Letter of Acceptance (LoA) from Buddha Smriti Udhyaan Development Company Limited (BSUDCL) to develop Buddha Smriti Udhyaan at Patna. PDL picked-up 38% equity stake in NanoCity Haryana Infrastructure Limited in July of the year 2008, NanoCity is one of the biggest infrastructure projects in modern India. The Company is focusing on cities other than Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore given the fact that a large percentage of the population of India is located outside these cities. PDL also intends to construct number of hotels and information technology parks on commercial land acquired by the company or with respect to development rights. Read More