VISION VISION COMMITMENT COMMITMENT PRUDENCE UDENCE PR EXECUTION EXECUTION om c aftindia. chcr o@pit f in w w w . p a r s v n a t h . c o m Parsvnath Developers Limited | Annual Report 2018 - 19 Vision Commitment Prudence Execution Inside this Report Vision Commitment Prudence Execution 01 Tough times, tougher measures, that's our mantra to sustain the difficult times today and prepare for a About us 04 brighter tomorrow. From the Chairman's Desk 06 At Parsvnaths, we turned to our core fundamentals Projects Highlights 08 when faced with challenges from external environment Operational Performance 10 and internal business conditions. We looked at our challenges through our foresighted vision. We resolved Corporate Social Responsibility 14 to stand by our commitment to brand Parsvnaths and Corporate Information 15 our fundamentally strong business structure. We are Board's Report 16 exercising due prudence in our �nancial and operational acumen. We are focused on executing what Management Discussion & Analysis 41 has already been strategized and committed. Corporate Governance Report 56 We believe that our strong fundamentals are our Independent Auditors' Report on strength- right from our vision to see farther; Standalone Financial Statements 74 commitment to build a better world; �scal & operational Standalone Financial Statements 85 prudence; and focus on execution. Independent Auditors' Report on Consolidated Financial Statements 157 Consolidated Financial Statements 166 ‘At Parsvnaths we are committed to build a better world’ Caution regarding forward looking statements Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We have tried wherever possible to identify such statements by using words such as 'anticipate', 'estimate', 'expect', 'project', 'intend', 'plan', 'believe' and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Vision Commitment Prudence Execution Inside this Report Vision Commitment Prudence Execution 01 Tough times, tougher measures, that's our mantra to sustain the difficult times today and prepare for a About us 04 brighter tomorrow. From the Chairman's Desk 06 At Parsvnaths, we turned to our core fundamentals Projects Highlights 08 when faced with challenges from external environment Operational Performance 10 and internal business conditions. We looked at our challenges through our foresighted vision. We resolved Corporate Social Responsibility 14 to stand by our commitment to brand Parsvnaths and Corporate Information 15 our fundamentally strong business structure. We are Board's Report 16 exercising due prudence in our �nancial and operational acumen. We are focused on executing what Management Discussion & Analysis 41 has already been strategized and committed. Corporate Governance Report 56 We believe that our strong fundamentals are our Independent Auditors' Report on strength- right from our vision to see farther; Standalone Financial Statements 74 commitment to build a better world; �scal & operational Standalone Financial Statements 85 prudence; and focus on execution. Independent Auditors' Report on Consolidated Financial Statements 157 Consolidated Financial Statements 166 ‘At Parsvnaths we are committed to build a better world’ Caution regarding forward looking statements Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We have tried wherever possible to identify such statements by using words such as 'anticipate', 'estimate', 'expect', 'project', 'intend', 'plan', 'believe' and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Besides these strong decisions, some of the Parsvnaths’ core strengths are also helping the Company sustain the current times and its Vision Commitment Prudence Execution challenges. Our early focus on commercial segment is providing consistent support to our �nances and operations. The Parsvnath 27 KG Marg is ready for possession. The second phase of Parsvnath Towers, Bhai Veer Singh Marg, Delhi is undergoing fast development The recent two �nancial years have seen Indian real estate industry going through its one of the and shall be ready for possession/ leasing-out soon. We are working hard and innovatively to gain momentum in our residential most comprehensive transformation phases and sustaining it. This period saw demonetization, GST projects like La-Tropicana-Delhi and Exotica- Gurugram among many others, which are all located in premium locations. Another and RERA implementation. These changes presented challenges and opportunities to the industry. positive development has been achieving a de�nitive progress in the possibility of favorable decision in the dispute with Rail Land Development Authority. We believe that living by our strong fundamentals, we will be able to sustain the present difficult times and garner a better opportunity landscape tomorrow. Parsvnath Exotica, Gurugram The Parsvnath 27, KG Marg The whirlwind of these changes along with internal business challenges have presented Parsvnaths with a sustained period of lower than benchmark performance. We believe that it is important to sustain today by thinking out-of-the-box for staying relevant tomorrow. During FY2018-19, we took some extra-ordinary measures to overcome our challenges rather than waiting for things to change on their own. During FY19 we sold out one of our Commercial Mall projects in Delhi. This action though difficult for us, brought respite on present debt situation as well as the cash �ows. The management of the Company plans to execute more of its projects through SPVs that will be dedicated to these projects. Thus, we will be able to unlock the execution capabilities and �nancial strengths Parsvnath Mall, Akshardam at the �agship company i.e. Parsvnath Developers Ltd. 02 03 Besides these strong decisions, some of the Parsvnaths’ core strengths are also helping the Company sustain the current times and its Vision Commitment Prudence Execution challenges. Our early focus on commercial segment is providing consistent support to our �nances and operations. The Parsvnath 27 KG Marg is ready for possession. The second phase of Parsvnath Towers, Bhai Veer Singh Marg, Delhi is undergoing fast development The recent two �nancial years have seen Indian real estate industry going through its one of the and shall be ready for possession/ leasing-out soon. We are working hard and innovatively to gain momentum in our residential most comprehensive transformation phases and sustaining it. This period saw demonetization, GST projects like La-Tropicana-Delhi and Exotica- Gurugram among many others, which are all located in premium locations. Another and RERA implementation. These changes presented challenges and opportunities to the industry. positive development has been achieving a de�nitive progress in the possibility of favorable decision in the dispute with Rail Land Development Authority. We believe that living by our strong fundamentals, we will be able to sustain the present difficult times and garner a better opportunity landscape tomorrow. Parsvnath Exotica, Gurugram The Parsvnath 27, KG Marg The whirlwind of these changes along with internal business challenges have presented Parsvnaths with a sustained period of lower than benchmark performance. We believe that it is important to sustain today by thinking out-of-the-box for staying relevant tomorrow. During FY2018-19, we took some extra-ordinary measures to overcome our challenges rather than waiting for things to change on their own. During FY19 we sold out one of our Commercial Mall projects in Delhi. This action though difficult for us, brought respite on present debt situation as well as the cash �ows. The management of the Company plans to execute more of its projects through SPVs that will be dedicated to these projects. Thus, we will be able to unlock the execution capabilities and �nancial strengths Parsvnath Mall, Akshardam at the �agship company