Parsvnath records PAT of Rs 14 cr for fourth quarter

Parsvnath Developers has reported a profit after tax (PAT) of Rs 14 crore for the fourth quarter ended March 2013 as compared to a net loss of Rs 23 crore in the same quarter previous year.

For the year ended March 2013, PAT stood at Rs 73 crore, an increase of 5.7% against Rs 69 crore for the year ended March 2012, according to a company statement.

The operating revenues for the year was at Rs 643 crore, a decline of about 29% as compared to Rs 905 crore for the year ended March, 2012.

The company is in the process of launching its integrated township project spread over 104 acres in Sohna. The final master plan for residential zone on Sohna has been notified by Haryana government.

It has applied for licenses to develop the project, which will consist of plotted developments as well as Group Housing, the statement added.