Bangalore-based real estate developer, Nitesh Estates, has bagged Rs 100 crore housing deal from ITC. | |
| According to Nitesh Shetty, managing director, Nitesh Estates, the company is to develop high-end condominium project for ITC's senior management in Jakkur (on way to the new international airport in Bangalore). |
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| "With an outlay of Rs 100 crore, the project spread over six acres will be completed in about 15 months," he added. |
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| Nitesh Estates together with Singapore based architects Jurong Corporation (technical partner and project manager) would offer expertise in quality finishes and technology from conception to completion of this project. |
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| "The company so far has projects worth Rs 400 crore in various stages of completion. And this initiative of tying up with Nitesh Estates for their senior employee housing project in Bangalore demonstrates their faith in our strengths," he added. |
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| In January this year, the company had received $100 million in funding through the special purpose vehicle (SPV) route from Siachen Capital of New York, which will provide Nitesh Estates with the base capital required to undertake larger projects and to reduce its exposure to debt financing. |
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| Nitesh Estates also recently signed on Australian Cricketer Shane Warne to endorse its new project "� Nitesh Forest Hills. |
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