Nitco signs Rs 350 crore Joint Development Agreement with Total Environment
By Aman Shukla Published on June 27, 2025, 15:05 IST
Nitco Limited has signed a Joint Development Agreement with Total Environment Building Systems Pvt. Ltd. on June 26, 2025, to develop its land in Alibaug, Raigad district. The deal, involving parcels of land across Shrigaon, Kalwadkhar, Mondvira, and Dehenkoni villages, is expected to generate a minimum of ₹350 crore over the next three years.
As part of the agreement, Nitco has granted development rights to Total Environment for plotted development on the said land. The company has already received an interest-free adjustable advance of ₹58.42 crore as part of the deal.
There is no shareholding or board-level influence involved, and the transaction does not fall under related party terms. The agreement also does not involve any issuance of shares, board appointments, or capital restructuring rights.
This strategic partnership marks a major monetisation step for Nitco, leveraging its land bank to unlock value. The project is expected to boost Nitco's cash flows and overall financial position over the medium term.
Ahmedabad Plane Crash
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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