Nitco Ltd

Nitco Ltd Enters Major Joint Development Deal for Land in Maharashtra 🏗️

- Expected total revenue from the joint development project: ₹1,300 Crore to ₹1,500 Crore over a five-year period.

- Project involves land located in Thal and Lonare villages, Alibaug Taluka, Raigad, Maharashtra.

- ₹9 Crore has already been received as a Security Deposit.

- The deal is structured as a joint development with HOABL Impactum Land Private Limited.

- The transaction is not a related party transaction.

- Revenue will be recognized over the relevant period as per transaction terms and accounting standards.