Joint Venture27 Jun 2025, 03:04 pm
Nitco Ltd Enters Joint Development Agreement for Land in Alibaug with Total Environment Building Systems, Likely to Fetch Rs. 350 Crores
AI Summary
Nitco Ltd has entered into a Joint Development Agreement with Total Environment Building Systems Private Limited for the plotted development of its land situated at Alibaug. The agreement is likely to fetch a minimum of Rs. 350 Crores over a period of 3 years. The Company has received an interest free adjustable advance of Rs. 58.42 Crores. This disclosure is made in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Key Highlights
- Nitco Ltd has entered into a Joint Development Agreement with Total Environment Building Systems Private Limited
- The agreement is for the plotted development of Nitco Ltd's land situated at Alibaug
- The agreement is likely to fetch a minimum of Rs. 350 Crores over a period of 3 years
- The Company has received an interest free adjustable advance of Rs. 58.42 Crores
- The disclosure is made in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024