Realty firm Parsvnath Developers today reported a 38 per cent decline in consolidated net profit of Rs 18 crore for the second quarter ended September. The company had posted a net profit of Rs 29 crore in the year-ago period.

The operating revenue fell by 41 per cent at Rs 150 crore during July-September period against Rs 253 crore in the corresponding quarter of the previous year.

Parsvnath is currently working on 50 projects with a total area of 77 mn sq ft. The company’s business portfolio includes residential, commercial (office and retail), DMRC projects, Hotels, SEZs, IT Parks and third party construction.

(This article was published on November 8, 2012)
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