Nitesh Estates plans to launch three new projects in Bangalore

Nitesh Estates plans to launch three projects in the next few months with a total saleable area of over three million sq ft, according to a top official of the company.

The total turnover of these joint development projects would be over Rs 1,000 crore. The company would launch a 22-acre villa project in North Bangalore.

The other project would see development of over 1,000 high-rise apartments across 21 acres.

The company would fund these projects from pre-sale proceeds, and also use their credit limits with banks on a 'case-to-case basis'.

Currently, the company's debt equity ratio stands at 0.12. The company has no definite plans of raising funds.