Parsvnath Developers Limited (PDL) was incorporated on 24 July, 1990. The Parsvnath Group is a marquee real estate brand with a pan-India presence in 37 cities across 13 states. It has been in operation since its establishment in 1990. In its more than four-decade existence, the Company has established an enviable track record in diverse segments of the sector such as Integrated Townships, Residential, Commercial, Retail, DMRC Station Development, Hotel, IT Park, SEZ and Third Party Contracting projects. It was the first company in the sector to integrate and implement quality standards such as ISO 9001, 14001 and OHSAS 18001.
The residential housing projects developed by the Company offer customers best amenities in addition to quality construction of multiple configuration units in high-rise apartment blocks, row houses and group housing. It also offers residential plots on sale. The projects that have made a name for the Company in this segment are Parsvnath Edens - Greater Noida, Parsvnath Exotica - Gurugram, Parsvnath Green Ville - Gurugram, Parsvnath La Tropicana - Delhi, Parsvnath Planet - Lucknow and others.
In the Integrated Township projects, Parsvnath Group offering includes apartments, villas, group housing, plots, schools, hospitals, retail and commercial units. It has part completed 14 township developments across major cities foremost among them being Ujjain, Dharuhera, Panipat, etc. Among the leading institutions and corporates that operate from the Company's commercial projects are Axis Bank, Canara Bank, State Bank of India, PNB, NIELIT, WHO, Smart Chip (Adhaar Center), Qatar Visa Center, SMC, etc. Similarly, the main highlights among the Retail brands with presence in the Company's properties include PVR, Metro Cash & Carry, LOTS whole sales, Haldirams, KFC, Food forum- Food court, Café Coffee Day, Burger King, Dominos, Pizza Hut, NEXA, Adidas, Skechers, Puma, Benetton, etc. Delhi Metro Rail Corporation Limited (DMRC)'s award of integrated property development rights at MRTS stations and commercial development of incremental land pockets available with it has been the most important project wins for the Company. Parsvnath Group has completed construction of 8 (Eight) DMRC projects.
The export facility project, situated in Niryat Nagar, Moradabad was commenced in April of the year 1999, which covered area of approximately 75,000 square feet. In the same year, month of May, the company had commenced Platinum Floors & Platinum Greens Project, Ardee City at Gurgaon. It was Phase I huge and prestigious housing project spread over 350 acres. The 3-Star Hotel Complex on a 5-acre plot, in the midst of verdant surroundings, Moradabad total covered area of 170,000 square feet and designed on the most modern of concepts with all facilities was commenced in July of the year 2000. To indicate the moderate project development capacity, ICRA Limited gave DR3 ICRA-NAREDCO rating to the company in March of the year 2002. PDL was the first real estate developer whose grading was published under by ICRA-NAREDCO. In the same year, the month of November, the company had obtained ISO 9001:2000 certifications from the International Certifications Limited (ICL) in relation to the development, construction and marketing of infrastructures. Again in September of the year 2005, PDL had received upgraded rating DR2- ICRA-NAREDCO from ICRA Limited indicating strong project development capacity. During December of the same year 2005 received certificate from the ICL certifying compliance with the Environment Management System Standard ISO 14001.
PDL had signed Memorandum of Understanding (MoU) with ICLEI-Local Government for Sustainability, South Asia, India in the year 2006 to develop and maintain a framework of co-operation in the project activities to improve renewable energy and energy efficiency in large-scale infrastructure, housing, commercial, SEZs and etc projects. During the year 2006-07, the company had won major projects like the development of Multimedia-cum-film city centre at Sarangpur in Chandigarh at a total cost of approximately Rs. 5000 Millions and also initiated a 5-star Hotel and Multiplex-cum-Commercial Mall project at Vejalpur in Ahmedabad besides, the launch of Parsvnath City, a high end residential township at Dharuhera in Haryana at an approximate cost of Rs. 4580 Millions. In the same year of 2006-07, PDL had incorporated two Subsidiary companies as Special Purpose Vehicles, viz. Parsvnath SEZ Ltd. to develop Special Economic Zones (SEZs) and Parsvnath Film City Ltd. to develop film city project bagged from the Chandigarh Administration, Chandigarh. Besides this, Parsvnath Landmark Developers Pvt. Ltd., the erstwhile Joint Venture Company engaged in real estate development business became a Wholly Owned Subsidiary of the Company. The Company had signed a MoU with Gujarat Urban Development Company Limited (GUDC) in February of the year 2007 with a view to participate in various real estate projects and development in the state of Gujarat.
In line with its foray into the hospitality sector, The Company made a joint venture through its wholly owned subsidiary, Parsvnath Hotels Ltd (PHL) with Royal Orchid Hotels Limited (ROHL) in February of the year 2008. PDL had launched its first integrated group housing and commercial mall project in Jamnagar during April of the year 2008 and also in the same period the company had inked an agreement with two Saffron Group managed funds, Yatra Capital Limited and Saffron India Real Estate Fund I (SIREF I), for the development of BEST bus depot near the Bandra Kurla Complex in Mumbai. During June of the year 2008, the company had received Letter of Acceptance (LoA) from Buddha Smriti Udhyaan Development Company Limited (BSUDCL) to develop Buddha Smriti Udhyaan at Patna. PDL picked-up 38% equity stake in NanoCity Haryana Infrastructure Limited in July of the year 2008, NanoCity is one of the biggest infrastructure projects in modern India.
The Company is focusing on cities other than Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore given the fact that a large percentage of the population of India is located outside these cities. PDL also intends to construct number of hotels and information technology parks on commercial land acquired by the company or with respect to development rights.
During 2009, the Company commissioned Azadpur Metro Station project at Delhi, launched 9 Residential projects, Parsvnath Premium at Sidhra, Jammu; Parsvnath Residency at Moradabad; Parsvnath Premier at Indore; Parsvnath Pragati at Dharuhera; Parsvnath Pratishtha at Pune; Parsvnath Planet Plaza at Lucknow; Elite Villas at Dharuhera; Parsvnath Royale Floors at Lucknow and Parsvnath Precious - Integrated group housing at Jamnagar and 3 Commercial Projects, Parsvnath City Centre at Sonepat, Haryana; Commercial mall project at Jamnangar and Parsvnath Mall at Seelampur, Delhi; commenced construction of 5-star hotel at Vejalpur, Ahmedabad; Parsvnath Technica (Cyber Park) at Gurgaon and La Tropicana' Group Housing Project at Civil Lines, Delhi, completed Azadpur Metro Station project at Delhi; announced joint venture with Constructora SAN JOSE, S.A., a subsidiary of Grupo SAN JOSE, a leading Infrastructure Development Company in Spain.
The Company came out with the Initial Public Offering (IPO) of its equity shares in November, 2006 and raised Rs.1089.77 crores through fresh issue of 363,25,800 equity shares of Rs.10/- each at a premium of Rs.290/- per share transaction, which was completed in February, 2008.
The Company launched Township at Saharanpur consisting of plotted development, expandable villas, independent floors and commercial development in 2010; completed construction of Akshardham Metro Station - Delhi Metro Rail Corporation Limited (DMRC) operational area was handed over to DMRC in November, 2009; Metro Station (Dhaulakuan) - DMRC operational area was handed over to DMRC for laying tracks between December, 2009 to February, 2010, commenced handing over of Parsvnath Green Ville, Gurgaon, Phase- II. . M/s Hessa Realtors Private Limited ceased to be a subsidiary company w.e.f. December 16, 2009 during year 2009-10.
During 2010-11, four companies, Parsvnath Estate Developers Private Limited; Parsvnath Promoters And Developers Private Limited; Parsvnath Hospitality Holdings Limited, Singapore and Parsvnath MIDC Pharma SEZ Private Limited became subsidiary companies. Thereafter, the Company disinvested into four subsidiary companies viz. M/s Baasima Buildcon Private Limited, Jarul Promoters & Developers Private Limited, Parsvnath Developers (GMBT) Private Limited and Parsvnath Developers (SBBT) Private Limited and hence the said Companies ceased to be subsidiaries as at March 31, 2011. The Company launched 'Red Fort Parsvnath Towers', A-Grade Office-cumCommercial Complex in the heart of New Delhi's Connaught Place Zone on Bhai Veer Singh Marg; 'The Parsvnath', an ultra-modern state-of-the-art Office-cum-Retail Complex on Kasturba Gandhi Marg, New Delhi; Parsvnath Paramount, a Super Luxury Air-conditioned Group Housing Project, at Subhash Nagar, New Delhi and Parsvnath Exotica Group Housing Project, Ghaziabad in 2011. It commissioned Parsvnath Exotica Group Housing, Phase I & II, Gurgaon; Parsvnath Panorama Group Housing, Greater Noida; Parsvnath Green Ville, Gurgaon (Tower Block); Parsvnath Narayan City, Jaipur; Parsvnath Royale Floors, Jodhpur (Part possession); Parsvnath Panchvati, Agra; Parsvnath City, Jodhpur (Part possession; Parsvnath City, Ujjain (Block D); Parsvnath City, Sonepat (Block A); Parsvnath King City, Rajpura (Phase I & II); Parsvnath City, Dharuhera (Part possession); Parsvnath City, Indore (Block A & B); Parsvnath Paradise -II, Ghaziabad, Parsvnath Kaushambi Mall, Ghaziabad, Parsvnath City Mall, Faridabad; Parsvnath Eleganza, Dehradun and Parsvnath Metro Mall, Seelampur Metro Station (Part I), Delhi in 2011.
The first hotel of the Company's 100% subsidiary viz. Parsvnath Hotels Limited, under the name 'Comfort Inn Anneha' became operational at Greater Kailash Enclave II, New Delhi in 2012. Parsvnath City, Karnal, Parsvnath Greens, Derabassi, Parsvnath City Centre, Bhiwadi and Parsvnath Pleasant, Dharuhera were the new project launched in 2012. Parsvnath Rail Land Project Pvt. Ltd. became a subsidiary company during 2011-12.
Parsvnath HB Projects Pvt. Ltd. became a subsidiary company and Parsvnath Realty Ventures Ltd. ceased to be a step-down subsidiary of the Company during 2013. Consequent upon disinvestment of equity shares of Parsvnath Retail Ltd. (PRL) by the Company, PRL has ceased to be subsidiary company; pursuant to acquisition of securities of Parsvnath Hessa Developers Pvt. Ltd. (PHDPL) by the Company from PE funds, PHDPL has become subsidiary company; Parsvnath Rail Land Project Pvt. Ltd. (PRLPPL) is no longer a subsidiary company. Further, Parsvnath Buildwell Pvt. Ltd. (PBPL) & Parsvnath Realcon Pvt. Ltd. (subsidiary of PBPL) became subsidiary companies in 2013.
During 2014-15, Parsvnath Hospitality Holdings Limited, subsidiary of Parsvnath Developers Pte. Limited, Singapore has ceased to be step-down subsidiary of the Company with effect from January 20, 2015. During 2015-16, Parsvnath Realty Ventures Ltd. became subsidiary of Company, consequent upon acquisition of 50,000 Equity Shares, effective from July 16, 2016. Parsvnath Estates Developers Pvt. Ltd., subsidiary company became wholly owned subsidiary of the Company, consequent upon acquisition of 12,25,000 Class B Equity Shares held by the overseas investors w.e.f. May 24, 2016.
In 2016-17, Parsvnath Landmark Developers Pvt. Ltd., subsidiary company has become a wholly owned subsidiary of the Company, consequent to the acquisition of 1,60,101 Class A equity shares and 5,61,951 Class B equity shares, with effect from November 2, 2016. Vasavi PDL Ventures Pvt. Ltd. (VPVPL) was incorporated as a subsidiary company, by subscribing to 51% of the paid-up capital of VPVPL, with effect from October 31, 2016. Farhad Realtors Private Limited (FRPL) became a wholly owned subsidiary of the Company, consequent upon the acquisition of 10,000 equity shares, with effect from July 29, 2017.
During FY2018-19, the Company created two more subsidiaries namely Jarul Promoters and Developers Pvt. Ltd. (Jarul), and Suksma Buildcon Pvt. Ltd. (Suksma) to develop Seelampur and Inderlok projects, respectively. As on June 30, 2019 Parsvnaths had 13 completed Integrated Township projects having a total developed/developable area of 13,10,240 Sq. Mtr. or 14.10 Mn. Sq. Ft. Parsvnath Rail Land Projects Pvt. Ltd. (PRLPPL), which became a subsidiary of the Company in 2018, has ceased to be an Associate Company of the Company with effect from May 7, 2018. Jarul Promoters & Developers Private Limited (JPDPL) became a wholly owned subsidiary of the Company, consequent upon the acquisition of 1,00,000 equity shares, with effect from March 16, 2019. Suksma Buildtech Private Limited (SBPL) became a wholly owned subsidiary of the Company, consequent upon the acquisition of 10,000 equity shares, with effect from March 16, 2019. Parsvnath Telecom Private Limited (PTPL) ceased to be a Subsidiary of the Company due to transfer of entire shareholding by the Company on June 29, 2019.
During 2019-20, Parsvnath Realcon Private Limited (PRPL), erstwhile step down Subsidiary, became a wholly owned Subsidiary of the Company, consequent upon the acquisition of shares from Parsvnath Buildwell Private Limited (PBPL), with effect from September 3, 2019. Snigdha Buildwell Private Limited (SBPL) became a wholly owned subsidiary of the Company, consequent upon the acquisition of entire shareholding, with effect from December 14, 2019. Generous Buildwell Private Limited (GBPL) became a step down subsidiary of the Company, being a Subsidiary of Snigdha Buildwell Private Limited, with effect from December 14, 2019. Evergreen Realtors Private Limited (ERPL) became a step down subsidiary of the Company, being a Subsidiary of Snigdha Buildwell Private Limited, with effect from February 6, 2020. Primetime Realtors Private Limited (PRPL) ceased to be a Subsidiary Company due to transfer of entire shareholding by the Company on February 17, 2020. Parsvnath Promoters & Developers Private Limited (PPDPL) ceased to be a direct Subsidiary of the Company and became a subsidiary of the Company, by jointly owning 51% shares alongwith Parsvnath Rail Land Project Private Limited (PRLPPL), Subsidiary Company, which is holding 46.14% shares, w.e.f. March 3, 2020. Parsvnath Buildwell Private Limited became a a Wholly-owned Subsidiary of the Company with effect from June 11, 2021.
During the year 2022, Vasavi PDL Ventures Private Limited has ceased to be a Subsidiary of the Company due to transfer in entire shareholding by the Company.
As on March 31, 2024, Parsvnath Group had completed 8 DMRC projects with a total developed area of 1.06 million sq. ft. The Company has also ventured in other divisions such as Hospitality and Contracting.