Parsvnath Developers Ltd.
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Parsvnath Developers Ltd.

Parsvnath Developers is one of India’s leading real estate developers founded by Pradeep Kumar Jain. The company has an experience of more than two decades in offering state-of-the-art development and construction. The company was incorporated on July 24, 1990 under the Companies Act, 1956 as ‘Parsvnath Developers Limited’ and obtained the Certificate of Commencement of Business on November 20, 1990.

Over the past two decades, the company has emerged as one of the most progressive and multi-faceted real estate and construction entities in the country. Through the years, Parsvnath have stayed true to its commitment to `building a better world’ by transforming barren tracts into landscaped green belts housing world class commercial, residential and recreational properties.

With a pan-India presence in over 51 cities in 18 states, it is steadfastly focused on continuing to create and build dreamscapes that transform lives and the world around us – be it through contemporary residential spaces, state-of-the-art office complexes, luxurious shopping malls and hypermarkets, posh hotels, futuristic multiplexes, and ultra modern IT Parks and special economic zones. They are one of the most diversified and widespread real estate developers in India with presence across all real estate verticals.

Parsvnath is a company whose business philosophy lies in the commitment to creating architectural marvels using state-of-the-art technology and global architectural, construction and business practices.The company is passionate about providing cost-effective and holistic solutions to customers while creating and adding value to the partners and stakeholders. It’s unwavering focus on these factors catapulted Parsvnath Developers into the top echelons of the Indian Real Estate and Construction Industry in 2007.

There are few parallels in the annals of the Indian real estate and construction industry that emulate the success trail blazed by Parsvnath Developers. Over the past two decades, the company has emerged as one of the most progressive and multi-faceted real estate and construction entities in the country. Through the years, Parsvnath has stayed true to its commitment to `building a better world’ by transforming barren tracts into landscaped green belts housing world class commercial, residential and recreational properties.

The company's project ranges from hotels, residential townships, metro malls, retail outlets, IT parks to SEZs

The subsidiaries of the company are: Parsvnath Hotels, Parsvnath Assets, Parsvnath Retail, Parsvnath SEZ,  Parsvnath Telecom.

Milestones achieved

• 2014 - Parsvnath Developers Ltd’s Residential Project, Parsvnath La-Tropicana, New Delhi was ranked among the “Most Promising Projects of North India 2014-15” by Estate Avenues on February 01, 2014.
• 2013 - Parsvnath Developers Ltd., was given MERIT AWARD BY APREA (Asia Pacific Real Estate Association, Singapore) in the Category - “EMERGING MARKETS - PROPERTY VALUATION” for listed Real Estate Entities 2013 in recognition of its commitment to enhancing the transparency and comparability of public real estate markets in the Asia Pacific Region.
  
  Parsvnath Developers Ltd’s Residential Project, Parsvnath La-Tropicana, New Delhi was awarded by CNBC (under category the best 50% Complete Residentail Project under Ultra Luxary Segment in NCR) on December 22, 2013.
  
  Parsvnath Developers Ltd’s Residential Project, Parsvnath Planet, Lucknow was awarded by CNBC (under category Special Recognition in Lucknow City under best 50% Complete Residential Project under Mid-Segemnt) on December 22, 2013.
  
  Parsvnath Developers Ltd., have been received Real Estate Award for “Innovative Real Estate Marketing Campaign of the year 2013” by ABP News.
• 2012 - Parsvnath Developers Ltd’s Residential Project, Parsvnath Exotica, Gurgaon was awarded by CNBC as “Most Luxurious Project” (under category more than 70% complete) on 22nd December, 2012.
• 2010- Parsvnath - Parsvnath Developers Ltd bagged Occupation Certificate of Parsvnath.

• July 2008: Parsvnath Developers announced an association with Sabeer Bhatia and HSIIDC jointly promoted Nanocity Haryana Infrastructure to develop a Knowledge City spread over an area of 11,000 acres in Panchkula near Chandigarh. The city named as “Parsvnath Nano city” is envisaged to sustain modern lifestyle and will have world-class infrastructure. It is a public-private partnership project, in which Haryana Government through HSIIDC will have 10% equity stake, Parsvnath Developers will have 38% equity stake and the remaining 52% will be with Sabeer Bhatia promoted group.
• May 2008: The company strategically identified a plot situated at 27, Kasturba Gandhi Marg through a subsidiary “Primetime Realtors” to build luxury shopping and state-of-the-art offices.
• April 2008: Strategic tie-up for first FDI worth  Rs186 crore in Parsvnath Project. Parsvnath tied up with two Saffron Group funds for its first Mumbai project for the development of BEST bus depot near the Bandra Kurla Complex in Mumbai.
• April 2008: 'Foundation laying of star rated project - Parsvnath PRIDEASIA' at Rajiv Gandhi Technology Park Chandigarh.
• February 2008: Announced JV of Parsvnath Hotels (PHL) and Royal Orchid Hotels (ROHL) under the name of “Parsvnath Royal Orchid Hotels” to develop 10 projects. PHL own & develop these projects with JV company to operate.
• February 2008: Announced JV of Parsvnath Hotels (PHL), a subsidiary of Parsvnath Developers with Fortune Park Hotels (FPHL), a wholly owned subsidiary of ITC to develop 50 Projects.
• December 2007: Incorporated subsidiary company “Parsvnath Assets.”
• November 2007: Incorporated subsidiary companies “Parsvnath Retail”, Parsvnath Developers Pte” for Singapore, “Parsvnath Hotels.”
• October 2007: Announced tie up with Al-Hassan Group of Industries, Oman, Muscat to undertake the offshore real estate development.
• August 2007: Parsvnath Developers incorporated Parsvnath Telecom  and was the first real. estate company to gauge the business opportunity and planned to diversify its business portfolio and went ahead to apply for telecom license for 22 circles.
• November 2006: Came out with an IPO clearly witnessing a strong and healthy investor’s response. The issue was oversubscribed by more than 55 times.
• August 2006 Received integrated management system certification comprising of ISO 9001:2000, ISO 14001:2004 and OHSAS 18001:1999 certification from RINA in relation to design, development, construction and marketing of infrastructures.
• June 2006- November 2006 Received formal approval of the GOI for the development of four SEZ projects and in principle approval in relation to the development of seven SEZ projects
• June 2006 The company's bid for the development of an integrated facility at Rajiv Gandhi Chandigarh Technology Park on 500,960.80 sq. mts. of land was accepted by the Chandigarh Housing Board subsequent to which the company has entered into a development agreement and lease deed with the Chandigarh Housing Board.
• January 2006 – August 2006 Secured acceptance of bid from the DMRC for 2 property development projects in Delhi (Metro Stations at Azadpur & Commonwealth village site near Akshardham).
• 2005 “Parsvnath Exotica” Gurgaon: Launched the first of its kind mega and prestigious project.
• 2004 – 2006 Secured ten concessions from the DMRC for the development of malls at metro stations.
• December 2005 Received certificate from the ICL certifying compliance with the Environment Management System Standard ISO 14001.
• September 2005 Received upgraded rating DR2- ICRA-NAREDCO rating from ICRA indicating strong project development capacity.
• November 2002 Received ISO 9001:2000 rating from the International Certifications (“ICL”) in relation to the development, construction and marketing of infrastructures.
• March 2002 Received DR3 ICRA-NAREDCO rating from ICRA indicating moderate project development capacity. Parsvnath Developers was the first real estate developer whose grading was published under by ICRA-NAREDCO.
• October 2000 The company's flagship housing project “Parsvnath Estate” in Greater Noida was launched which had 277 dwelling units in addition to 20 shops with a total built up area of about 4 Lac sq. ft.
• 1998 Launched a commercial project “Parsvnath Plaza” in Saharanpur with a saleable area of 1, 20, 000 sq. ft.
• 1994 Launched 1st large commercial (Shopping Mall) project in Moradabad, Parsvnath Plaza – I, which was completed in three years and handed over units during December, 1997.
• July 1990 Parsvnath Developers was incorporated.
• May 1984: With no capital in hand Pradeep Kumar Jain migrated to Delhi and started as a broker for property selling of some established names. He also learnt and assisted these companies in assembling land parcels. Having understood the finer norms of housing business Jain started Parasnath and Associates Pvt. Ltd.

Future plans

Parsvnath Developers is planning to invest Rs 135 crore in building an information technology park in Gurgaon, which is expected to be operational in three years’ time. The IT Park, will have a floor space of 75,000 square feet.