Nitesh Estates signs JV pact in Bengaluru; eyes Rs 3.75 bn revenue
Source: IRIS | 16 Jun, 2014, 12.36PM
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 Nitesh Estates announced on Saturday that the company has signed up a joint development agreement in Bengaluru for development of a gated community in an area of 12 acres to accommodate 440 units.
 The project located at prime Hennur Main Road will have easy access to the International Airport, Outer ring road and major office complexes.
The project will give a total revenue of Rs 3.75 billion to the company and will have significant improvement in the profitability over next 36 months. The project will be launched shortly.
Shares of the company gained Rs 0.65, or 3.96%, to trade at Rs 17.05. The total volume of shares traded was 116,199 at the BSE (1.22 p.m., Monday).
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