To launch 3 new projects within Q4: Nitesh Estates

According to Ashwini Kumar, COO, Nitesh Estates, although the commercial space has done extremely well, flat growth was seen in the mid-income space.

Real estates sales have been stagnant for a better part of 2014 with high prices and poor buyer sentiment. In an interview to CNBC-TV18, Ashwini Kumar, COO, Nitesh Estates  shares his perspective on whether realty slowdown is set to continue.

According to him, although the commercial space has done extremely well, flat growth was seen in the mid-income space.

Currently, its sales in Q3 ranged between 0.2-0.3 Marginal Standing Facility (MSF). Going ahead, the company is set to launch another three projects within this quarter.

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Nitesh Estates stock price

On January 13, 2015, at 14:10 hrs Nitesh Estates was quoting at Rs 11.15, down Rs 0.11, or 0.98 percent. The 52-week high of the share was Rs 18.70 and the 52-week low was Rs 9.30.

The company's trailing 12-month (TTM) EPS was at Rs 0.25 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 44.6. The latest book value of the company is Rs 29.80 per share. At current value, the price-to-book value of the company is 0.37.

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