Parsvnath Developers
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Parsvnath Capital Towers, B.V.S.M. (New Delhi) Actual Picture The Parsvnath 27, K.G. Marg (New Delhi) Perspective Image Parsvnath Mall, Akshardham Metro Station (Delhi) Actual Picture Parsvnath Mall Moradabad (U.P.) Actual Picture TURNING SPACES INTO LANDMARKS Parsvnath Developers Limited | Annual Report 2016-17 ACROSS TURNING SPACES INTO THE PAGES LANDMARKS A business comes true on its Turning Spaces into Landmarks 01 premise when it delivers From The Chairman's Desk 04 passionately on its fundamentals. Our Projects - Our Landmarks 06 In real estate, the true challenge About Parsvnath Developers Limited 08 Operational & Financial Performance 10 for a developer is to put all its might Parsvnath Capital Towers, behind and convert barren lands into Corporate Social Responsibility 14 B.V.S.M. (New Delhi) Actual Picture Awards & Recongnitions 15 enriched spaces which will be revered as Corporate Information 16 landmarks in the future. Board's Report 17 At Parsvnath Developers, turning spaces into landmarks Management Discussion & Analysis 44 has been a passion ever since we began our journey; one Corporate Governance Report 56 that is replete with milestones achieved over the years. The Parsvnath 27, We have been establishing high-standards in the Independent Auditor's Report on Standalone Financial Statements 71 K.G. Marg (New Delhi) craft of construction and art of customer satisfaction. Perspective Image Standalone Financials Statements 76 In 1994, we were the first organised developer to bring a Mall Project to the Tier II city of Moradabad. Independent Auditor's Report on Consolidated Financial Statements 161 Parsvnath made its mark when it became first ConsolidatedCONTENTS Financial Statements 166 developer to develop mall projects at Delhi Metro Stations. We continue to enjoy that privilege, courtesy our immaculate project execution for the DMRC Projects. We were also amongst the first few real estate companies to Parsvnath Mall, Akshardham come out with an IPO in 2006. In our journey through the years, Metro Station (Delhi) Actual Picture the strategy of geographic diversification made Parsvnath one of the few players to have such wide presence across the country – one which spans across 41 cities in 15 states. Parsvnath also prides itself on being the f i rst real estate company in India to have integrated with ISO 9001, 14001 and OHSAS 18001 certifications of quality, management and health and safety. We have been able to achieve these milestones because we understand the importance of the dream to own a home and the aspiration to move into a new office for business. For a home owner Parsvnath Mall Moradabad (U.P.) or an office occupier, these are unforgettable landmarks besides being a lifetime investment. We Actual Picture have always striven to give more than just space to our customers – our projects boast of prime locations, impressive architecture, good quality construction and the use of latest technologies – Caution regarding forward looking statements everything it takes to create a real landmark! 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 Parsvnath Capital Towers, Bhai Veer Singh Marg (B.V.S.M.) in the Central Business District (CBD) 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. ACROSS TURNING SPACES INTO THE PAGES LANDMARKS A business comes true on its Turning Spaces into Landmarks 01 premise when it delivers From The Chairman's Desk 04 passionately on its fundamentals. Our Projects - Our Landmarks 06 In real estate, the true challenge About Parsvnath Developers Limited 08 Operational & Financial Performance 10 for a developer is to put all its might Parsvnath Capital Towers, behind and convert barren lands into Corporate Social Responsibility 14 B.V.S.M. (New Delhi) Actual Picture Awards & Recongnitions 15 enriched spaces which will be revered as Corporate Information 16 landmarks in the future. Board's Report 17 At Parsvnath Developers, turning spaces into landmarks Management Discussion & Analysis 44 has been a passion ever since we began our journey; one Corporate Governance Report 56 that is replete with milestones achieved over the years. The Parsvnath 27, We have been establishing high-standards in the Independent Auditor's Report on Standalone Financial Statements 71 K.G. Marg (New Delhi) craft of construction and art of customer satisfaction. Perspective Image Standalone Financials Statements 76 In 1994, we were the first organised developer to bring a Mall Project to the Tier II city of Moradabad. Independent Auditor's Report on Consolidated Financial Statements 161 Parsvnath made its mark when it became first ConsolidatedCONTENTS Financial Statements 166 developer to develop mall projects at Delhi Metro Stations. We continue to enjoy that privilege, courtesy our immaculate project execution for the DMRC Projects. We were also amongst the first few real estate companies to Parsvnath Mall, Akshardham come out with an IPO in 2006. In our journey through the years, Metro Station (Delhi) Actual Picture the strategy of geographic diversification made Parsvnath one of the few players to have such wide presence across the country – one which spans across 41 cities in 15 states. Parsvnath also prides itself on being the f i rst real estate company in India to have integrated with ISO 9001, 14001 and OHSAS 18001 certifications of quality, management and health and safety. We have been able to achieve these milestones because we understand the importance of the dream to own a home and the aspiration to move into a new office for business. For a home owner Parsvnath Mall Moradabad (U.P.) or an office occupier, these are unforgettable landmarks besides being a lifetime investment. We Actual Picture have always striven to give more than just space to our customers – our projects boast of prime locations, impressive architecture, good quality construction and the use of latest technologies – Caution regarding forward looking statements everything it takes to create a real landmark! 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 Parsvnath Capital Towers, Bhai Veer Singh Marg (B.V.S.M.) in the Central Business District (CBD) 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. PARSVNATH DEVELOPERS LTD. | ANNUAL REPORT 2016-17 of Delhi stands as testimony to the zeal and passion with which Districts have been getting an overwhelming response from Parsvnath Group pursues its vision to create projects that become corporate entities and retailers, besides being seen as iconic urban benchmarks in the real estate sector. This project is one of the new landmark developments which include Parsvnath Capital Towers at developments in CBD around Connaught Place in last over a decade. B.V.S.M., New Delhi and its Phase II, the upcoming The Parsvnath 27 at The development of Phase-II of this project is nearing completion Kasturba Gandhi Marg and Parsvnath Mall in Rohini, North-West and will have an area of over 5 lakh sq. ft. put together. Next in line is Delhi. one of the most premium upcoming project, not only in Delhi & NCR And our quest to turn spaces into landmarks continues. but possibly across the country which is 'The Parsvnath 27' at Kasturba Gandhi Marg in the heart of New Delhi. Parsvnath is also coming up with a large scale mall in the posh and promising location of Rohini, Delhi. With approximately 3 lakh sq. ft. of leasable area, Parsvnath Mall Rohini in North-West Delhi is poised to become one of the most happening places to eat, shop and entertain. It is indeed a proud legacy when it comes to delivering enriching Parsvnath Exotica, Gurgaon. Actual Picture spaces to our customers across commercial and residential segments since our inception. The Parsvnath City Mall project in Faridabad covers approximately 1.82 lakh sq. ft. of leased area and houses big retail brands. The Parsvnath Prestige I & II, Group Housing project along the Taj Expressway, NOIDA, covering 1.61 million sq. ft. area, offered iconic lifestyle landmark in NOIDA. The Green Ville, Gurgaon project was positioned as a project with international living style and was delivered in same fashion, covering 1.12 million sq. ft. developed area with open area, serene surroundings and clean & green living.