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Our Bureau

New Delhi, May 23

Real estate player Parsvnath Developers Ltd (PDL) registered a 253 per cent jump in net profit at Rs 132.43 crore for the fourth quarter ended March 31, as compared with Rs 37.46 crore for the same quarter last year. Total income grew 70 per cent to Rs 412.23 crore for the fourth quarter ended March 31, from Rs 242.91 crore for the corresponding quarter last year.

For the entire fiscal 2006-07, the company registered a 156 per cent jump in net profit at Rs 271.77 crore, as against Rs 106.24 crore for the year-ago period. The total income jumped 93 per cent at Rs 1,260.98 crore for the year ended March 31, from Rs 653.76 crore. The company acquired the balance 50 per cent stake in Parsvnath Landmark Developers Pvt Ltd, PDL's joint venture company with OCL India Ltd, in the fourth quarter. With this, Parsvnath Landmark Developers has become wholly owned subsidiary of PDL.

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