NEL Holdings South Ltd - NEL HOLDINGS Share Price

Summary

Nitesh Estates Ltd is an integrated property development company headquartered in Bangalore, India. The company is the real estate arm of the Nitesh Group having their presence across 4 asset classes. They develop state-of-the-art Homes, Hotels, Office Buildings and Shopping Malls. They undertake most of their projects through the joint-development model as compared to acquiring a freehold or leasehold interest in the land, which reduces the upfront cost of land acquisition and their total project financing costs.The company has two subsidiary companies, namely Nitesh Indiranagar and Nitesh Housing. They are also having a joint venture company namely, Nitesh Estates-Whitefield. These three companies are engaged in the business of real estate development.Nitesh Estates Ltd was incorporated on February 20, 2004 as a private limited company in Bengaluru with the name Nitesh Estate Pvt Ltd. In December 2006, Citi Property Investors acquired 74.0% stake in Nitesh Residency which is developing the Ritz- Carlton brand hotel.In the year 2007, the company completed Nitesh Wimbledon Park, a premium residential project located on Race Course Road, Bengaluru. Also, they completed Nitesh Mayfair, a premium residential project located on Lavelle Road, Bengaluru.In January 2007, AMIF I Ltd, an Och-Ziff Captial Management Group entity acquired 28.98% stake in the company. In May 2007, the company signed an agreement to develop Indias first the Ritz-Carlton brand hotel in Bengaluru. In... Read More