Parsvnath Developers appoints Sunil Malhotra as CFO

New Delhi, India, April 04, 2008 - Parsvnath Developers Limited, India’s leading real estate developer with diversified portfolio, has announced the appointment of Mr. Sunil Malhotra as CFO with effect from March 28, 2008 in place of Mr. Ravi S. Pani, who has since resigned.

Mr. Malhotra besides being a Masters Degree holder in Commerce from Delhi University is also a Chartered Accountant, having varied experience of over 30 years. He had earlier worked with Parsvnath Developers as Vice President – Finance for a period of eight years from the year 1997 to 2005.

“We are pleased to once again welcome Mr Sunil Malhotra to the Parsvnath team. With his breadth of experience, we are confident that he will be a valuable contributor to Parsvnath,” said Mr. Pradeep Jain, Chairman of Parsvnath Developers Ltd.

Commenting on joining Parsvnath Developers Limited as CFO, Mr. Sunil Malhotra said, “For me it’s like home coming; I had earlier worked with Parsvnath Developers and in the new role I am sure that with the support of core management team I will be able to perform with full efficiency in achieving the desired organizational objectives”.