Nitesh Estates shines on inking Rs 200 crore new luxurious residential project

25 Nov 2011

Nitesh Estates is currently trading at Rs. 17.00, up by 0.15 points or 0.89% from its previous closing of Rs. 16.85 on the BSE.

The scrip opened at Rs. 17.25 and has touched a high and low of Rs. 17.70 and Rs. 17.00 respectively. So far 2,330 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 37.25 on 24-Nov-2010 and a 52 week low of Rs. 15.15 on 07-Oct-2011.

Last one week high and low of the scrip stood at Rs. 19.45 and Rs. 16.30 respectively. The current market cap of the company is Rs. 247.00 crore.

The promoters holding in the company stood at 44.15% while Institutions and Non-Institutions held 31.31% and 24.55% respectively.

Nitesh Estates has signed a super luxury residential project ‘Nitesh Park Avenue’ in High Grounds, Sankey Road at Bangalore. Nitesh Park Avenue will generate revenue of Rs 200 crore. This luxurious private residences is expected to be the new iconic landmark in the town, ushering in a new paradigm of luxury living.

Nitesh Estates have partnered with celebrity architect - Kohn Pedersen Fox, (KPF) an internationally renowned architectural firm, for this project, which will be completed in next 36 months.

Nitesh Park Avenue residents will have stunning views of the Bangalore Golf Course, access to a 24 hours concierge, world class fitness facilities, gorgeous infinity pool, impressive double height lobby, huge entertainment spaces and close proximity to some of Bangalore's most famous luxury hotels.

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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