As per the good time recorded at the real estate of Bangalore many realty group are enjoying their peak time in the market. As per the sources in www.propertykhazana.com Bangalore based Nitesh realty group has made much attention to the profit graph after the involvement of the JP Morgan fund that bought its 45% of business stake. Nitesh realty group is known for both its office and other commercial constructions will be engaged in three major projects in locations of Bangalore and Chennai with an estimation of 4 million square feet area.
According to the trading graph in stock exchange its rate increased up to 7.10 percent amounting Rs 19.45 at the early morning hours of 10:44 IST today as compared to that with Rs 18.10 previously. More interestingly its volume raised by over 700% marking 101204 number of shares as compared to the low of 12491. All these factors have influenced the capitalization of the realty firm which now holds at Rs 263.96 crores. In a recent report it was also declared that the company has made a net sale of its various units amounting Rs 19.41 crores by the September ending quarter 2011. It is a significant success of the Nitesh realty rising up to 55% as compared to the last quarter of the same financial year. It has made easy for the company to reduce its net loss amount to Rs 45 lakhs from that of Rs 3.75 crores during the same instance. On another note it is found that a green residential mission with 417 units is developed by the sister concern of the Nitesh realty – Nitesh Urban Development Private Limited in Bangalore. The project is named as NITESH CAPE COD and has huge expectation to collect returns of around Rs300 crores in next two and half years of time.
Source: NIMMA BENGALURU
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