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Nitesh Estates have 18 projects in its portfolio, out of which 4 are at the handover stage, 8 are in construction and six are in the approval stage, says Ashwini Kumar, ED & COO of the company.
In an interview to CNBC-TV18, Ashwini Kumar, ED & COO of the company said Q4 sales are expected to be on same lines as Q3 and that there has been increase in revenue recognition in premium projects.
Ashwini Kumar, COO, Nitesh Estates spoke about the Q2 performance of the company sees revenue recognition at least for two projects in the next two quarters.
The pessimism is a little overdone in terms of the mid-income housing segment and consumer purchases of first time buyers. In the range of about Rs 50 lakhs to Rs 1.5 crore, there is still a lot of appetite at least in Bangalore
Ashwini Kumar, COO of Nitesh Estates tells CNBC-TV that though the quarter results are dismal, on a yearly basis, the company has made tremendous progress. “We now have 10 projects underway and have actually grown 58% in revenue terms to Rs 144 crore over the past year,” he says.