Nitesh Estates utilises Rs 40 crore to reduce its debt

01 Apr 2019

Nitesh Estates has sold the prime parcel of the land in the heart of Bangalore City for a deal valuing at Rs 55 crore out of which has utilised Rs 40 crore to reduce its debt by from the overall consolidated debt by repaying the lender - HDFC against the loan availed by the company.

With this exit from the land parcel and repayment of existing loan from HDFC, the company has reduced its consolidated debt by Rs 450 crore with in last 3 weeks.

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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