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Mumbai: Nitesh Estates Ltd has entered the hospitality segment with the opening of India’s first Ritz-Carlton hotel in Bangalore.

The 277 room luxury hotel, which is owned and developed by Bangalore-based Nitesh Estates, was built at a cost of 750 crore, the company said.

“We are delighted that the Ritz-Carlton, an iconic brand symbolizing luxury, enters the Indian market with us. Nitesh Estates has always opted for tie-ups with best brands globally and we are proud to bring this brand to India" Ashwini Kumar, executive director and chief operating officer, Nitesh Estates Ltd said in the statement.

Shares of Nitesh Estate lost 0.09% on Thursday’s to 10.55 while the Sensex gained 0.62% at 21,164.52 points.

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