Nitco has recently informed exchanges that the company secured an order worth Rs 105 crore from Prestige Group, a prominent real estate developer. This significant order underscores NITCO’s strong reputation for providing high-quality surface solutions for architectural projects.
The order will see NITCO supply tiles and marble to several ongoing real estate developments by Prestige Group across various cities. With the expansion of these projects, NITCO expects the total order size to rise to approximately Rs 210 crore.
Nitco’s longstanding relationship with the Razaak family of Prestige Group, built over 40 years, has played a pivotal role in this partnership, as Prestige exclusively sources its tile and marble needs from NITCO. The company is also focused on sustainable growth, expanding its reach, and contributing to India’s architectural landscape.
In line with its turnaround strategy, NITCO has taken steps to restructure its debt, bring in a strategic investor, Authum Investment & Infrastructure Ltd, and streamline its operations by selling its land parcel in Kanjurmarg.