Parsvnath Hotel gets "5 Star" approval from MoT

Parsvnath Hotels Ltd. a subsidiary of Parsvnath Developers Limited (PDL), India’s leading real estate and infrastructure company, has received 5 star category project approval from Ministry of Tourism, Government of India for its hotel project at Hyderabad . The construction of the hotel is undertaken by Parsvnath Hotels Limited which is expected to be operational by late 2011.

Sprawling over an area of approximately 11063.68 sq. meters, the total plot area would offer a judicious blend of Shopping Mall, Office Complexes and a Five Star category Hotel. The hotel comprising of 186 rooms offers coffee shop, multi cuisine and specialty restaurants, a bar and a few boutique shops coupled with all amenities of a five star hotel. The hotel is strategically located in the Rajiv Gandhi Circle at Kukatpally, Hyderabad. Being situated in close vicinity of Secundrabad Railway Station and mere 35 kms away from Shamshabad Airport, the hotel project ensures easy commuting via road, rail and air ways.

Speaking at the occasion, Mr. Deepak Mowar, Vice President - Hotels said “Hyderabad, the capital city of Andhra Pradesh, known for its rich history, culture and architecture representing its unique character as a meeting point for North and South India. The city being a modern hub of Information Technology, ITES, and Biotechnology has always been a preferred tourist destination and convention centre. This huge influx of fluctuating population has led to burgeoning demand for qualitative place which addresses the leisure as well as business activities of the visitors.  Our project in Hyderabad bridges this gap by providing all the amenities under one roof.”

The proximity to Hi-tech city- the 10 storied cylindrical building housing Indian and multinational IT companies would further enhance hotel’s demand.

About Parsvnath Hotel Limited:
Parsvnath Hotels Limited is also developing 21 hotels with a saleable area of approximately 3 million sq ft. These hotels would offer 3-star to 5-star facilities with Décor & ambience with delicacies of luxury to revolve around and is aimed at providing more than 2500 rooms which will cater to the huge demand for hotel rooms in the country. The construction is already in full swing of 6 hotel properties and is expected to be complete by end of 2010.

Establishing its mark by venturing into hospitality Parsvnath Hotels Ltd (PHL) announced its partnership with Fortune Park Hotels Ltd (FPHL), a wholly owned subsidiary of ITC Ltd, to manage 50 Hotels across the country in next three to five years and a Joint Venture with Royal Orchid Hotels Limited (ROHL) to build, operate and manage 10 hotel properties.

About Parsvnath Developers Limited:-
Parsvnath Developers Limited (PDL) is one of India’s leading real estate developers with Pan-India presence across 50 cities and 17 states with presence across key verticals of real estate industry. The company has developable area of 209 million sq. ft.   Presently having 81 mn. sq. ft. of area under construction out of which 43.62 mn. sq. ft. is already sold. With a healthy track record of timely delivery of projects, the company carries on construction of the projects in-house, which adds to its capability of timely delivery and quality. The company is an organized and professionally managed company with over 1114 employees including a strong technical team. PDL has a diversified portfolio of real estate development projects including Integrated Townships, Residential Projects and Commercial Complexes such as shopping malls, multiplexes, hotels, IT parks, B.O.T. Projects and SEZs. It has successfully completed 14 Residential, 12 Commercial and 7 DMRC Projects and is having a customer base of 25,069.