Nitesh Urban Development (NUDPL) has become a 100% wholly owned subsidiary (WOS) of Nitesh Estates with effect from December 31, 2011. NUDPL has become a WOS after the company has acquired the balance 4,900 equity shares from the promoters of NUDPL.
Recently, Nitesh Estates had signed a super luxury residential project ‘Nitesh Park Avenue’ in High Grounds, Sankey Road at Bangalore. Nitesh Park Avenue would generate revenue of Rs 200 crore.
Nitesh Estates is in the business of real estate development and is primarily engaged in the development of residential projects in Bangalore. It is also developing a hospitality project in Bangalore, a residential and an office project in Kochi.