Parsvnath Q3 net surges by 112.86%

New Delhi, Jan 31 (UNI) Real estate major Parsvnath Developers Ltd today said its net profit has increased 112.86 per cent to Rs 114.65 crore for the third quarter ended December 31, 2007 as compared to Rs 53.86 crore for the same period a year ago.

Total income has also witnessed a hike of 59.09 per cent to Rs 487.44 crore for Q3 FY07 as against Rs 306.39 crore for the same quarter a year earlier.

The Group's profit stood at Rs 112.57 crore, while total income was at Rs 497.09 crore for the quarter ended December 31, 2007.

The Group's net profit stood at Rs 317.52 crore for the nine months ended December 31, 2007 as against Rs 139.34 crore for the same period a year ago, a hike of 127.87 per cent.

The Group's revenue stood at Rs 1,324.27 crore for the nine month period ended December 31, 2007 from Rs 848.75 crore during the same period a year ago, an increase of 56.02 per cent.

''There is an incremental surge in demand in tier II and III cities. Expanding our footprint across the nation continues to be a priority for us and we are making tremendous progress in the same,'' company Chairman Pradeep Jain.

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