Nitco Shares Surge on Potential Land Sale in Alibaug
Nitco jumps on Alibaug land deal buzz with HOABL
Business Standard
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Shares of Nitco, a surface solutions company, climbed 5.46% to ₹90.59 amid reports of a potential land sale in Alibaug to the House of Abhinandan Lodha (HOABL). The deal, which may include a joint development agreement, could generate revenue of up to ₹6,000 crore.
- 01Nitco shares increased by 5.46% following land deal reports.
- 02The potential project could yield revenue of up to ₹6,000 crore.
- 03Nitco reported a net loss of ₹11.90 crore in Q3 December 2025.
- 04Net sales for Nitco rose 54.66% year-on-year to ₹130.30 crore.
- 05The agreement with HOABL may finalize revenue-sharing terms.
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Shares of Nitco, a prominent surface solutions company, surged by 5.46% to ₹90.59 following reports of a potential land sale in Alibaug, Maharashtra, to the House of Abhinandan Lodha (HOABL). The deal is expected to include a joint development agreement, with projected revenues reaching up to ₹6,000 crore. Nitco, which specializes in tiles, marble, and mosaic products, operates in over 55 countries and has a robust domestic network of more than 650 dealers. In its latest financial report for Q3 December 2025, Nitco posted a net loss of ₹11.90 crore, an improvement from a net loss of ₹660.18 crore during the same period in 2024. Additionally, the company's net sales saw a significant increase of 54.66% year-on-year, totaling ₹130.30 crore.
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The potential land deal could significantly boost Nitco's financial stability and revenue generation, positively impacting its stakeholders and investors.
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