Nitesh Estates, an integrated property development company, announced signing up of a new residential project in a prime piece of property measuring 8 acres 4 guntas located at the junction of Whitefield Road, Budigere Road and Old Madras Road. It offers excellent connectivity to ITPL, Whitefield, M G Road and Kempegowda International Airport.

The project will have high rise residential apartment, comprising 11 towers each having multilevel parking and 17 floors comprising a total of 723 apartments comprising a mix of 1BHK, 2 BHK, 2.5 BHK, 3 BHK and 4 BHK pent house units.

The project will generate a turnover of Rs 3.75 billion to the company with improvement in revenue and profits over next 3 years.

Shares of the company gained Rs 0.57, or 5.59%, to trade at Rs 10.77. The total volume of shares traded was 109,526 at the BSE (1.48 p.m., Friday).