Parsvnath net falls 37%

Real estate player Parsvnath has reported a 36.8 per cent dip in net profit to ₹12 crore for the third quarter ended December 31, against ₹19 crore in the same period a year ago. Operating revenue stood at ₹ 119 crore (₹148 crore), a decline of 19.5 per cent. Chairman Pradeep Jain termed the quarter as moderate. “We have offered possession of approximately 17.3 lakh sq ft in the quarter which is four times than what we offered in the second quarter. Our focus is on execution and delivery of ongoing projects. With our efforts of cost control and effective project management, we expect to do better in the coming quarters,” he said.