I need to restore Virtual Machine from the Time Machine backup.
Enter Time Machine.
Choose the date for the back up to be restored.
Locate the '.pvm' file from
Mac HD/Users/Shared/Parallels (location by default)
To restore, select the file/folder and click the "Restore" button. The file will automatically be copied to the desktop or appropriate folder.
- If the file you are restoring has another file in the same location with the same name, you will be prompted to choose which file to keep or keep both.
For more information regarding Time Machine please follow this link