Nitesh Estates is currently trading at Rs. 12.59, up by 0.44 points or 3.62 % from its previous closing of Rs. 12.15 on the BSE.
The scrip opened at Rs. 12.59 and has touched a high and low of Rs. 12.59 and Rs. 12.59 respectively. So far 200 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 14.74 on 10-Dec-2013 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. 14.00 and Rs. 12.15 respectively. The current market cap of the company is Rs. 177.19 crore.
The promoters holding in the company stood at 46.04 % while Institutions and Non-Institutions held 27.96 % and 26.00 % respectively.
Nitesh Estates - 100% subsidiary - Nitesh Indiranagar Retail, which will develop and own the Retail Mall of approximately 1.2 million square feet at Indiranagar, Bangalore and has concluded the supplementary agreement with the Landowners. The auditors had earlier expressed their concern as a matter of emphasis in the Annual Accounts over this project over last 2 years, which is now resolved.
The subsidiary will now take up this project and is expected to complete the construction within 37 months. This property has the potential of rental earning of Rs 60 crore per annum to the subsidiary. The project will improve the substantial revenue and profitability of the company, on the consolidated basis.
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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