Real estate firm, Parsvnath Developers Limited has announced the launch of residential project “Parsvnath Passion” in Jammu.

Parsvnath Passion duly approved by Jammu Development Authority (JDA) in the region with an approximate realization value of over Rs 1 billion in next three years including this financial year. The project is being developed in association with Mass House Building Cooperative from the region.

Situated over 11 acres of lush greens with a saleable area of over 700,000 sq ft, will offer 480 apartments of 2 or 3 bedrooms each in the price range of Rs 17 lakhs to Rs 30 lakhs.

The project has 75 % of the total property area as open space for comfort and ease of its residents.

Sanjeev Jain, MD of the firm said, “Having a strong foothold in other North Indian States, it gives us immense pleasure to announce our arrival with first project in this unexplored State. The project will be distinct and modern in design and offerings and yet will gel with the well defined architecture and natural beauty that the region is so famous for.”
 
The Work has successfully begun and will be expected to take three years to finish, he added.

The firm presently holds market cap worth Rs. 6892 crore, PE Ratio of 18.56; EPS of 20.11 and BV of 20.34. The firm had posted a net profit of Rs 101 crore for the quarter ended September 2007 as against Rs. 49 crore in same period of corresponding year.