Nitesh Estates, an integrated property development company, witnessed a rise in share price on Friday after it announced signing up of a new residential project in a prime piece of property measuring 8 acres 4 guntas located at the junction of Whitefield Road, Budigere Road and Old Madras Road. It offers excellent connectivity to ITPL, Whitefield, M G Road and Kempegowda International Airport.

The project will generate a turnover of Rs 3.75 billion to the company with improvement in revenue and profits over next 3 years.

Shares of the company are trading at Rs 10.77, up Rs 0.57, or 5.59% at the Bombay Stock Exchange (BSE) on Friday at 1:52 p.m.

The scrip has touched an intra-day high of Rs 11.30 and low of Rs 10.26. The total volume of shares traded at the BSE is 109,526.