Nitco Ltd Forms JV for ₹4,500 Cr Alibaug Project

Nitco Limited has entered into a joint venture with The House of Abhinandan Lodha (HoABL) to develop a 40-acre premium mixed-use project in Alibaug. The project, located in Thal and Lonare villages, is expected to generate approximately ₹4,500 crore in revenue over five years. Nitco's share is projected at ₹1,500 crore. The development will include luxury apartments, townhouses, and a boutique hotel. This strategic partnership aims to create long-term value from Nitco's land assets. The transaction is subject to statutory approvals and definitive agreements.