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Parsvnath Q1 net profit flat at Rs 4.58 crore

Its net profit stood at Rs 4.64 crore in the year-ago period

Press Trust of India  |  New Delhi 

Realty firm Developers Ltd on Saturday reported a marginal decline in net profit at Rs 4.58 crore for the quarter ended June on lower sales.

Its net profit stood at Rs 4.64 crore in the year-ago period, the company said in a regulatory filing.

Income from operations fell to Rs 86.65 crore during the first quarter of the current financial year, from Rs 134.18 crore in the year-ago period.

"The real estate sector still needs to gain consistent momentum. Though there has been an uptick in commercial real estate but the residential segment is witnessing a slow but steady demand," Developers Chairman Pradeep Jain said.

is developing 45 projects having 53.47 million sq ft of developable area.

First Published: Sat, September 10 2016. 19:28 IST
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