Nitesh Estates through its 100% wholly owned subsidiary has concluded the acquisition of the shopping Mall in Koregaon, a up-market prime location in Pune. This shopping mall is situated in a prime location of Pune on 6 acre land area with built up area of over one million square feet and houses some of the prominent brands.
The mall will generate over Rs 45 crore of rental income per annum after a couple of years and will add significant top line revenue to the company and value creation. The mall asset will also enhance the consolidated asset value of the company.
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.
