Nitesh Estates, a real estate developer, has announced the launch of its high rise condominium project situated off Hennur road in Bangalore. Hennur Road is the most sought after area in Bangalore's micro market.

The project, Nitesh Hunter Valley, coming up on 21 acres land area with mixed use development will have 1091 condominiums with overall revenue potential of Rs 9 billion. The company's economic interest in the project will be Rs 6 billion. The project will add significant top line revenue to the company.

Shares of the company gained Rs 0.7, or 5%, to trade at Rs 14.71. The total volume of shares traded was 120,031 at the BSE (3.45 p.m., Tuesday).