Real estate firm Parsvnath Developers today reported a consolidated net loss of Rs 8.87 crore for the quarter ended December 31, 2015, on lower sales.
Its net profit stood at Rs 14.44 crore in the year ago period, according to a regulatory filing.
Total income from operations fell by 33 per cent to Rs 97.46 crore in the third quarter of this fiscal from Rs 146.47 crore in the corresponding period of the previous year.
Parsvnath Developers posted a net loss of Rs 41.50 crore in the April-December period of the 2015-16 fiscal as against a net profit of Rs 33.24 crore in the year-ago period.
Income from operations fell to Rs 322.97 crore in the nine months ended December compared to Rs 495.20 crore in the corresponding period of the previous year.
Delhi-based Parsvnath Developers has till date completed 57 projects, measuring 25.94 million sq ft of developed area.
The company at present is working on 48 projects covering 68.40 million sq ft. It has a large land bank that stands at 141.26 million sq ft.
