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New Delhi Feb. 2 Parsvnath Developers Ltd (PDL) recorded a net profit of Rs 53.86 crore for the third quarter ended December 31. Revenue for the period stood at Rs 306.39 crore.

The company issued 3.32 crore shares through IPO in the last quarter resulting in the post issue share capital of Rs 184.69 crore.

"We will complete 14 million sq.ft. of developed area by March. We are expanding our base by entering new verticals such as SEZs, hospitality business and retail space," said Mr Pradeep Jain, Chairman, PDL.

The company now has a total land bank of 122.41 million sq.ft. of developable area to be developed at a total cost of approximately Rs 16,000 crore in the next four years.

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