Nitesh Estates, a real estate developer, has announced the launch of Nitesh Melbourne Park, a premium condominium residential project. The project is located in the northern part of Bangalore at Hennur Main Road. It provides easy access to the International airport, the Outer Ring Road and major office complexes.
The project has 67% area designated to landscaping and open spaces with a 2.5 acres central open space as the focal point. It also features fine architecture, landscaped gardens, modern interiors as well as a variety of indoor and outdoor amenities to suit the recreation needs of a busy lifestyle.
Commenting on the development, Ashwini Kumar, executive director and chief operating officer, Nitesh Estates said, ''Nitesh Melbourne Park is planned as a unique gated community with a differentiated concept. The project offers premium features such as private gardens for ground floor units and private terraces for upper units. It is ideally suited for customers who value greenery and open spaces. The launch of this project is part of the Company's strategy to gain scale and operate in a higher growth trajectory. Nitesh Melbourne Park, along with other planned launches during the year, is expected to significantly enhance Nitesh Estates’ scale of operations. Further, the Company expects strong financial performance going forward, as more projects come under revenue recognition.''
Shares of the company gained Rs 0.45, or 2.74%, to settle at Rs 16.85. The total volume of shares traded was 32,856 at the BSE (Friday).