Parsvnath wins bid to develop commercial mall at Greater Noida

Parsvnath Developers Ltd has announced that the Company has won the bid to develop a commercial project on 18632 sq. mt. of land at Sector Delta-II in Greater Noida. The estimated cost of the project to the Company including land would be Rs 160 crore. The saleable area would be approximately 3.6 lac sq ft. with expected revenues over 300 crores spread over next 3 financial years, which would add to Company's topline and bottomline.

The bid was offered by Greater Noida industrial Development Authority. The Company emerged as the highest bidder to bag the project in the fiercely competitive bid.

The Company is already developing 23 commercial projects such as shopping malls and multiplexes in the country. The Company already has a commercial project "Parsvnath Bibhab Plaza" running successfully in Greater Noida.

The mall will have the presence of the best of brands, elaborate food-courts, acclaimed restaurants / food chains, etc. The Company will start the construction on the project once it has all the necessary approvals. The project would ensure a good footfall and will be a shopping icon for the area.