Nitesh Estates gains on launching Rs 300 crore Nitesh British Columbia in South Bangalore

01 Oct 2013 Evaluate

Nitesh Estates is currently trading at Rs 10.24, up by 0.24 points or 2.40% from its previous closing of Rs 10.00 on the BSE.

The scrip opened at Rs 10.44 and has touched a high and low of Rs 10.44 and Rs 10.00 respectively. So far 2460 shares were traded on the counter.

The BSE group 'T' stock of face value Rs 10 has touched a 52 week high of Rs 20.50 on 19-Dec-2012 and a 52 week low of Rs 8.70 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs 10.65 and Rs 9.82 respectively. The current market cap of the company is Rs 149.33 crore.

The promoters holding in the company stood at 44.91% while Institutions and Non-Institutions held 28.37% and 26.72% respectively.

Nitesh Estates, a leading integrated property developer with presence across all asset classes, has launched  ‘Nitesh British Columbia’, a premium high rise condominium project off Kanakpura Road in South Bangalore. The project is aimed at the first-time home buyers. Spread over 4.70 acres, Nitesh British Columbia, will have 388 apartments with their areas ranging from 1000 sq. ft. to 1600 sq. ft. There are 2 bedroom and 3 bedroom configurations on offer. The apartments are attractively priced at Rs. 37 lakh onwards.

The project is located around BDA layouts and hence has connectivity with well-planned wide roads. The metro rail that is under construction along Kanakpura Road will further enhance the connectivity. The project is in easy reach of NICE Road on the South and the Metro Cash & Carry landmark in the North.

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.

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