Nitesh Estates, Real estate developer is likely to introduce three projects in the next few months with a total saleable area of over three million sq ft. The company aims over Rs 1,000 crore as turnover of these joint development projects.
The company plans to launch a 22-acre villa project in North Bangalore. The other project would see development of over 1,000 high-rise apartments across 21 acres. This project will consist of two- and three-bedroom apartments in the price range of Rs 45 lakh to Rs 70 lakh. The third project would be a unique development at Marathahalli.
The company will fund these projects from pre-sale proceeds, and also use their credit limits with banks on a case-to-case basis. Currently, the company's debt equity ratio stands at 0.12. The company has no definite plans of raising funds.
