Parsvnath to keep on hold retail foray by three months

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Parsvnath Developers will keep on hold their proposed retail venture for three months. This, despite the fact that the real estate major has formed its retail arm to enter Indian retail market. Parsvnath Developers chairman Pradeep Jain told IndiaRetailing that there would be delay in the launch of its retail venture by some three months.

Commenting on the proposed schedule to roll out the retail venture, Jain said, “Under the current scenario, it is very difficult to comment on any tentative time for the start of the venture, but surely we have kept the plan on hold for next three months.”

Jain said, the company is busy analysing the retail business scenario in the country and revealed that they are in talks with a few foreign players. However, the real estate veteran refused to name any likely company.

—Shailesh Shah

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