Parsvnath Developers, a prominent realty firm, reported a significant increase in its consolidated net loss for the September quarter, which widened to Rs 1.28 billion. This marked a substantial rise from the Rs 740.85 million loss recorded during the same period in the previous year. In addition to the increased loss, the company’s total income for the quarter also saw a sharp decline, dropping to Rs 480.37 million. This was a notable decrease from Rs 1.17 billion in the second quarter of the previous fiscal year, as disclosed in the company’s regulatory filing on Thursday.

The firm, headquartered in Delhi, has been actively involved in the development of various residential and commercial projects across the Delhi-NCR region and other states in India. Despite the challenges reflected in its financial results, Parsvnath Developers continues to have a presence in the real estate market through its on-going and completed projects.