BF Utilities gains over 11% on land development deal: Reports

NEW DELHI: BF Utilities Ltd is expected to enter into a land development deal with Prestige Estate Ltd in Bangalore, reports ET Now.

According to ET Now reports, total revenue potential from the project is estimated around Rs 880 crores. The land development will be done by the BF Utilities Ltd’s subsidiary NICE.

At 01:06 p.m., shares in BF Utilities Ltd were trading 11.2% higher at Rs 489 on the BSE while shares in Prestige Estate Projects Ltd were down 2.1% to Rs 94.45 on the NSE.

BF Utilities Ltd owns 75% stake in NICE and the project is expected to be completed in 2-3 years.