There are many benefits of Coral tree reported in literature

Erythrina variegata, commonly known as Tiger's Claw or Indian Coral Tree. पारिभद्र, फरहद, इत्यादि। In comments a friend adds "Paribhadra, Paladhua, Minjari in Odia".

Erythrina variegata is valued as an ornamental tree. 

In Vietnam, the leaves are used to wrap fermented meat.

In the Philippines its bark and leaves are used in alternative medicine. This is also used in Siddha medicine,.

It is often used in agroforestry systems. It can be used for fodder as its foliage has a good nutritive value for most livestock.

The seeds are poisonous in their raw state, but can be cooked and eaten. 

More benefits in medicine etc are given in comments.

There are many benefits of Coral tree reported in literature:

1. Reduce cholesterol

2. Improve digestive strength                                                               

3. Help cure worm infestation

4. Treat swelling and inflammations

5. Cure anorexia

6. Relief from fever

7. Help fight obesity

8. Get relief in liver disorders

9. Purgative

10. Cure women problems

11. Antiseptic

Wide range of chemical compounds have been isolated, mainly alkaloids, flavonoids, triterpenoids and lectin from E. variegata.

Pawan kumar Gupta