Parsvnath Developers To Forgo Interest On Outstanding Installments Of Customers

New Delhi: Delhi-based Parsvnath Developers will forgo interest on outstanding installments of all its customers for three months starting 15 March 2020.

Parsvnath Developers has decided to offer an interest holiday on “outstanding amounts to all its customers and home buyers for three months from 15 March till 15 June," the company said in a statement.

Then Corona Virus outbreak has led a lockdown in the entire country and many banks have offered moratorium on EMI payments towards loans borrowed from them. 

"Everyone is facing unforeseen difficulties and losses due to the COVID-19 outbreak. Hence keeping in consideration these tough times, it was our duty to extend relief to our customers," said Parsvnath Group Chairman Pradeep Jain. 

Company’s net loss widened to Rs 108.53 crore in the third quarter of the ongoing financial year. The total income of the company jumped to Rs 53.40 crore in the third quarter of ongoing financial year as against Rs 43.45 crore in the corresponding quarter of the previous fiscal.