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Nitesh Estates zooms on inking JDA for Rs 170 crore project in Bangalore

28 Aug 2014

Nitesh Estates is currently trading at Rs. 14.61, up by 1.05 points or 7.74% from its previous closing of Rs. 13.56 on the BSE.

The scrip opened at Rs. 14.60 and has touched a high and low of Rs. 14.90 and Rs. 14.25 respectively. So far 12961 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.70 on 09-Jun-2014 and a 52 week low of Rs. 9.60 on 03-Sep-2013.

Last one week high and low of the scrip stood at Rs. 14.90 and Rs. 13.00 respectively. The current market cap of the company is Rs. 197.75 crore.

The promoters holding in the company stood at 46.34% while Institutions and Non-Institutions held 27.15% and 26.51% respectively.

Nitesh Estates has signed up a Joint Development Agreement (JDA) for a new residential project which will have 262 residential Units. The project located at prime Hosur Main Road will have easy access to the Electronic City, Outer Ring Road and Major office complexes.

The project will give total revenue of Rs 170 crore to the company and will contribute to the profitability over the 36 months. The project will be launched shortly.

Nitesh Estates is a leading integrated property development company headquartered in Bangalore. The company provides world-class products and services and has presence across four asset class - Homes, Hotels, Office Buildings, and Shopping Malls.


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