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Nitesh Estates likely to launch three projects in next few months

02 Mar 2012 Evaluate

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.

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Company Name CMP
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