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Parsvnath Developers bag DMRC project

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Real estate major Parsvnath Developers Ltd has reportedly bagged a project from Delhi Metro Rail Corporation (DMRC) to construct a shopping mall outside a metro station at a cost of Rs 150 crore.

The company bagged the project through competitive bidding for developing a shopping mall, spread over 2.5 lakh square feet, outside Netaji Subhash Place metro station in north Delhi. The project is expected to be operational within three years.

This will be the 13th project that Parsvnath is developing for DMRC. It has already entered into concession agreements to develop shopping malls on 12 stations owned by DMRC on build- operate-transfer basis. Parsvnath, which has a pan-India presence across 47 cities and 17 states, currently has 153 million square feet of area in hand for development. Construction has begun on 66 million square feet of area; the rest is to take off this fiscal.

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