Indian realty giant, Parsvnath Developers Ltd has said that its sales have been reviving after falling in four quarters as the lower interest rates help revive the Indian economy.

The real-estate company has said that it is introducing new plans for buyers and offer attractive offers in order to aggressively sell its units and double the sales this quarter as the demand revives in the housing market of the third largest economy in Asia. According to the data released by Bloomberg, the company recorded a fall of 26per cent in revenues during 2012.

Chairman Pradeep Jain said that the overall economic situation is not great at the moment but it is recovering and the demand is expected to increase in the coming future. He said that the demand has picked in Delhi and surrounding areas and the growth is expected to rise in the coming quarter. The Reserve Bank of India (RBI) has cut borrowing costs three times in 2013 and this is expected to revive the demand in the sector and boost sales.

Shares of Parsvnath have fallen 36 per cent in the previous year.