Parsvnath bags Rs 1750 cr group housing project

New Delhi, Feb 19: Leading real estate developer Parsvnath Developers Ltd today won a bid to develop a Group Housing Plot at Noida at a cost of Rs 1,750 crore.

The project includes development of 7.5 million square feet of saleable area. The revenues arising out of the project will be spread over next three financial years, adding to the company's topline and bottomline.

''We have established our presence in 45 cities and 16 states across India. We are aggressively expanding our base by entering new verticals such as SEZ, hospitality business and retail space. Group housing is our focus area and this project will be another feather in our cap,'' Parsvnath Developers Ltd Chairman Pradeep Jain said.

Parsvnath emerged as the highest bidder to bag the project. Two developers were short listed as the prospective bidders after the pre-qualification stage for the project.

UNI