Nitco Limited receives Rs. 58.42 crores advance as per JDA

Nitco Limited had entered into a Joint Development Agreement (JDA) on June 26, 2025 with Total Environment Building Systems Private Limited ("Developer"), for the plotted development of the Company's Land situated at Alibaug, specifically, all that piece and parcels of land in Shrigaon, Kalwadkhar, Mondvira & Dehenkoni villages at Alibaug Taluka, Raigad, for a consideration which is likely to fetch minimum of Rs. 350 Crores (Rupees Three Hundred & Fifty Crores) over a period of 3 years. Out of the same, the Company has received an interest free adjustable advance of Rs. 58.42 Crores (Rupees Fifty Eight Crores Forty Two Lakh Only).

Shares of Nitco Limited was last trading in BSE at Rs. 135.30 as compared to the previous close of Rs. 134.60. The total number of shares traded during the day was 6015 in over 212 trades.

The stock hit an intraday high of Rs. 137.50 and intraday low of 133.70. The net turnover during the day was Rs. 814469.00.

Source : Equity Bulls

Keywords

Nitco INE858F01012 JDA AmountReceived