Realty firm Parsvnath Developers Ltd disclosed a slight decline in net profit at Rs 4.58 crore for the June 30 quarter end on account of lower sales. Its net profit is recorded at Rs 4.64 crore in the year-ago period, the company’s filling read. Income from operations slipped to Rs 86.65 crore during the first quarter of the current fiscal year, from Rs 134.18 crore in the year-ago period. According to Pradeep Jain, Parsvnath Developers Chairman mentioned that the real estate sector still needs to gain consistent momentum. Although there has been an uptick in commercial real estate but the residential segment is facing a slow but stable demand. Parsvnath is developing 45 projects having 53.47 million sq ft of developable area.
Meanwhile Parsvnath share price is trading marginally above 0.66% at Rs. 15.20. The stock opened at Rs. 14.85, touching the day’s high and low at Rs. 15.25 and Rs. 14.85 respectively.
Parsvnath Developers Limited, one of India’s top growing real estate developers has an experience of more than two decades in the field of offering state-of-the-art development and construction. Their presence is felt in across 50 cities and 17 states in India. One of the most variegated and widespread real estate developers in India, the company boasts of almost 100 ongoing projects spread over a developable area measuring 200 million square feet across all real estate verticals.
The 52 week high value of Parsvnath share price was touched last year on 7th December at Rs. 30.15 whereas the 52 week low value was touched last week on 9th September at Rs. 14.10. Till now, approximately 4,92,529 shares were traded in the counter having a traded value of Rs. 74.86 lacs.
In order to attain further details on the stock, refer to Parsvnath share price forecast.
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