Parsvnath Developers, a leading real estate developer, plunged on Thursday after it swung to a loss for the quarter ended March 2014.  During the quarter, the company reported a loss of Rs 228.40 million compared with a profit of Rs 148.46 million in the same quarter previous year.

Net sales for the quarter declined 50.42% to Rs 901.71 million, compared with Rs 1,818.79 million for the prior year period.

Shares of the company are trading at Rs 29.50, down Rs 1.05, or 3.44% at the Bombay Stock Exchange (BSE) on Thursday at 11:50 a.m.

The scrip has touched an intra-day high of Rs 30.50 and low of Rs 29.25. The total volume of shares traded at the BSE is 33,960.

In the earlier session, the shares declined 2.4%, or Rs 0.75, at Rs 30.55. Currently, the stock is trading down 17.02% from its 52-week high of Rs 35.55 and above 32.58% over the 52-week low of Rs 22.25.