Parsvnath Developers selected preferred bidder by Ranchi Municipal Corporation

Parsvnath Developers Ltd has announced that pursuant to the bid submitted by the Company in response to the Request for Proposal (RFP) dated November 09, 2006 issued by IL&FS Infrastructure Development Corporation Ltd (IIDC) (on behalf of the Ranchi Municipal Corporation (RMC) for implementation of the "Integrated Real Estate Development" project at Jaipal Singh Stadium site in Ranchi, the Company have been issued a Letter of Acceptance by the Ranchi Municipal Corporation, advising that the Company have been selected as the Preferred Bidder for the project. This project involves development of 8.3 acres of land for building (a) Shopping / Office / Multiplex Complex, (b) a Five Star Hotel, and (c) Premium Residential Apartments and Sports / Recreation facilities at an estimated cost of Rs 400 crores.

Source : Equity Bulls

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