By Sachin Murdeshwar

New Delhi :  Parsvnath Developers Limited (Parsvnath), leading real estate and infrastructure developer announced a unique scheme to fulfill the need and desire of customers. Reinforcing its commitment for continuity, adaptability and contemporary look, it also unveiled its new corporate identity which symbolizes transformation, freshness and simplicity. It also announced its strategy and plan for today’s dynamic business environment.

Known for bringing innovations, company launched one of its kind schemes which promise huge benefits to the home buyers. As per the ‘25:75 House of Happiness’ scheme, buyers need to pay just 25% of the total cost on booking and rest on offer of possession. This scheme is different from other subvention plans which are available in the market, the scheme announced will not attract any EMIs as there is no bank loan involved. The scheme will be applicable on 20 projects of Parsvnath Group which include four commercial and sixteen residential projects across India including cities like New Delhi, Greater Noida, Ghaziabad, Sonepat, Dharuhera, Moradabad, Ujjain, Saharanpur, Bhiwadi, Panchkula and Rajpura.

In line with its corporate philosophy and motto of ‘committed to build a better world’ Parsvnath Group today unveiled a new visual expression to symbolize the modernity, continuity, adaptability and above all commitment of the company’s businesses as well as the simplicity of its integrated approach.

The logic behind the new brand is also encapsulated in the phrase ‘committed to build a better world’, not intended to be an advertising strap-line, the phrase is simply meant to explain the spirit in which Parsvnath works. ‘Building a better world’ captures both the scale of the company’s activities and the commitment to provide solutions for all. It also defines both the company’s history of delivering on its promises but also hints at a wider social benefit.

Commenting on the unique scheme ’25:75 house of happiness’, Mr. Pradeep Jain, Chairman, Parsvnath Group, said,

“After studying the buying trends and profile of the customers, we were thinking of bringing a solution that not only suits the end user but also help investors. The scheme is targeted to help the first time buyers to think of having a house of their own.  ’25:75 House of Happiness’ scheme is certainly going to transform the way houses were sold. This is a result of our new approach where we emphasized on problems faced by the buyers at large and thus, designed this scheme. This is purely a ‘risk-free’ way of buying a house as it does not involve any bank loan and EMIs. I am sure in the current market situation; buyers will feel a great relief though this scheme.

We have been known for our innovative architecture, designs and commitment towards our customers and stakeholders. As we are well aware, our industry, the nation and the world are all facing tremendous headwinds in doing business in various verticals due to the economic and political uncertainties that bedevil most geographies. But I am pleased to reveal that, constraints notwithstanding, Parsvnath Group still retains a zing in its stride. However, we are leaving all the clutter behind and are coming afresh. Our new logo symbolizes our all new simple, straight and clutter-free approach towards the new India. We are confident that this simplicity in our approach will keep guiding us to build a better world, everyday.”

Speaking about the confidence of the PE investors and financial institutions in company’s business model, Mr. Jain further said,

“At present, we have three PE fund investments of Rs 1015.5 Cr in different projects. While SUN Apollo had invested Rs 90 Cr and Rs 50 Cr in Exotica Ghaziabad and Gurgaon respectively, we have already paid back Rs 34.5 Cr against their investment in Gurgaon. Similarly, JP Morgan had invested Rs 255 Cr in La Tropicana in Delhi out of which we have paid back Rs 58 Cr. Our third partner is Red Fort who has invested Rs 558 Cr and Rs 155 Cr in our two projects i.e. RLDA Sarai Rohila and Parsvnath Red Fort Tower at Bhai Veer Singh Marg respectively.”

The company has always looked forward and is in final stages of handing over 0.22 mn sq ft of space to its customers at Bhai Veer Singh Marg project, a high-end ultra-modern commercial complex in the heart of the national capital. The company has given the mandate of construction to L&T which is developing this next generation world class structure. The project is due for the completion certificate.

Giving importance to accelerated construction and faster deliveries, company has been giving third party contracts to reputed construction companies like L&T, IL&FS Engineering & Construction Co. Ltd., Jaycon Infrastructure, Chawla Techno, SYConE EPMC and Ascent Constructions.

Parsvnath is currently developing 76.3 Mn sq ft of area in 27 cities across India out of which it has already sold 36.3 Mn sq ft of space. With the new scheme in place, Parsvnath expects to double its sales in current quarter.