Parsvnath developers' net profit up by 129%

Parsvnath Developers reported a robust 118 per cent jump in its net revenues for April-June 2010 period led by strong demand for residential property across the country.

Parsvnath Developers reported a robust 118 per cent jump in its net revenues for April-June 2010 period led by strong demand for residential property across the country.

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The net profit rose by 129 per cent during the quarter as compared to same period a year ago.

The company's net revenues for the quarter stood at Rs 259 crore and net profit stood at Rs 32 crore.

"The management focussed on faster and accelerated completion of the ongoing projects than to aggressively launch new ones. During the past couple of months we have seen improved sales across segments," Pradeep Jain, chairman Parsvnath Developers said in a statement.