Parsvnath Developers has bagged another DMRC project for developing an ultra modern fully air-conditioned shopping mall outside Netaji Subhash Place Metro Station in North Delhi.
The prestigious project located at a prime location on the Ring Road, slated to attract huge footfall, would cost approximately Rs 150 crore. The company bagged the project through a competitive bidding process.
The project sprawls over an area of 19,400 sq.mtr with a developable area of 2,50,000 sq.ft. The project aims to gratify the shopping needs of public traveling by metro.
The company has already entered into concession agreements to develop shopping malls on 12 stations owned by the Delhi Metro Railway Corporation (DMRC) on a build-operate-transfer basis. Of these, construction of 6 is already completed.
The Netaji Subhash Place mall is expected to be fully operational within 3 years. ENAM Securities has a BUY on Parsvnath Developers Limited.
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