Parsvnath to go slow on land buys
Parsvnath Developers, the Delhi-based realtor, plans to invest up to Rs 500 crore for land acquisitions in fiscal 2009. However, it will not be aggressive in ramping up its land bank and would acquire land for its projects.
In its latest quarter, the BSE-listed Parsvnath added 66 acres of land.
Pradeep Jain, chairman at Parsvnath, said the focus is to acquire land for setting up integrated townships. We are not very aggressive in acquiring new land to boost our land bank.
I think we would invest Rs 400-Rs 500 crore out of internal accruals, depending on liquidity …to acquire land in this financial year, Jain said in a conference call with analysts on Monday.
More : dnaindia.com