Nitco Ltd Completes Land Sale for ₹143 Cr, Expects ₹250 Cr More

Nitco Ltd has completed the registration of the conveyance deed for 75% of its land in Kanjurmarg, Mumbai, to M/s. R Siddhatva Developers Private Limited, a subsidiary of M/s. Runwal Construction Private Limited. The company has received INR 143 crores as consideration for this portion. For the remaining 25% of the land, an agreement for sale has been registered, with the conveyance deed to be executed upon receipt of 100,000 square feet of commercial RERA carpet area and 8,500 square feet of basement space. Nitco Ltd anticipates realizing an additional revenue of approximately INR 250 crores from the sale of this commercial space. This transaction follows previous disclosures made by the company.