Nitesh Estates’ arm makes partial redemption to HDFC AMC

21 Feb 2013 Evaluate

Nitesh Housing Developers, subsidiary of Nitesh Estates has made a partial redemption of Rs 40 crore (rounded off) out of Rs 62 crore issued to HDFC AMC.

Nitesh Estates is in the business of real estate development and is primarily engaged in the development of residential projects in Bangalore. It is also developing a hospitality project in Bangalore, a residential and an office project in Kochi.HDFC AMC had invested Rs.80 crore for a 11% stake in a subsidiary special purpose vehicle in 2009.

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