Nitesh Estates Ltd has declared the results for the three month period ended June 30, 2010.

On a consolidated basis, the company's total income was Rs 40.7 Cr for April-June period.

The company's EBITDA margins for the said period surged 22.6% to Rs 9.2 crore.

The company's consolidated PBT stood at Rs 6.7 crore.

While commenting on the results, Mr. Nitesh Shetty, Managing Director, Nitesh Estates Limited stated, "We have made a promising start to this fiscal with strong revenue numbers and profit margins. We are confident that we will continue this strong growth as we move forward."

"The two projects that we recently launched namely Flushing Meadows and Hyde Park in Bengaluru have shown great traction from customers. Construction is going on in full swing at both the sites. We have also lined up three other projects which will be launched shortly in Bengaluru and Goa. One of our projects, Forest Hills, is nearing completion and handing over to customers has begun and we hope to complete the handing over within the next few weeks," Mr. Shetty added.

During the preceding quarter, Nitesh Estates has sold around 335 units of residential apartments in Bangalore.

Nitesh Estates have been licensed by Bureau Veritas Certification- UKAS ISO 9001; it is the most widely recognized certification body in the world.

Set up by Nitesh Shetty in 2002, Nitesh Estates is the realty division of the Nitesh Group, which is headquartered in Bangalore, Karnataka.

Nitesh Estates Ltd has showed its ability to successfully take on challenging projects.

Moreover, the company is eyeing to strengthen its operations to other cities such as Goa, Chennai, and Kochi shortly among other places.