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Parsvnath Developers Ltd, in partnership with Unity Group, has fully leased the 3 lakh sq ft retail space at their newly completed shopping mall, Unity One Elegante, located in Netaji Subhash Place, Delhi. Developed through a joint venture, Unity Parsvnaths LLP, the mall has received its Occupancy-Cum-Completion Certificate from the Delhi Development Authority and is set to become operational soon. Parsvnath continues to expand its presence across 37 cities in 13 states while focusing on new commercial developments. The company posted a consolidated net loss of INR 347.27 crore in the latest fiscal, with income declining to INR 303.45 crore.
Parsvnath Developers Ltd and Unity Group have successfully leased out the entire retail space at their new joint shopping mall in Delhi, marking a significant milestone for both companies. The project, developed under the joint venture Unity Parsvnaths LLP, is called Unity One Elegante and is situated at Netaji Subhash Place. Advertisement
Parsvnath stated in a regulatory filing that the mall's construction is complete and it has now received the Occupancy-Cum-Completion Certificate from the Delhi Development Authority, allowing it to open and start operations shortly. The mall has been developed over 28,400 square meters, providing a total leasable area of 3 lakh sq ft, all of which has already been leased.
Pradeep Jain, Chairman of Parsvnath, emphasized that the company is now focusing on developing new commercial projects and partnering with strategic or joint venture collaborators to expand its portfolio further. Parsvnath currently operates in over 37 major cities across 13 states, reflecting its pan-India presence.
Financially, the company reported a consolidated net loss of INR 347.27 crore in the latest fiscal year, an improvement from INR 594.13 crore in the previous year. Total income also declined to INR 303.45 crore from INR 493.72 crore year-on-year, primarily due to lower revenue during the period.
Source PTI
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