Nitesh Estates signs joint development agreement for commercial mall at Bangalore

Nitesh Estates has signed joint development agreement for development of Rs 500 crore commercial mall at Indiranagar, Bangalore.

February 21, 2011 / 16:28 IST

Nitesh Estates Ltd has informed BSE that the Company has signed up a Joint Development agreement for development of a Rs. 500 Cr Commercial Mall at Indiranagar, Bangalore. The area to be developed will be approx 1.4 Mn sq. ft in total. The conclusion of the agreement was pending for last two quarters as reported in Company's quarterly result reports. Now, this agreement has been concluded.

This project will be implemented by Nitesh Indiranagar Retail Private Limited, a 100% subsidiary of the Company. This property will be of big asset to the Company and will significantly improve the revenues.

Source : BSE

first published: Feb 21, 2011 04:28 pm

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