NITCO Share Price Jumps 1.7% After Winning ₹105 Crore Order from Prestige Group

NITCO’s share price jumps 1.7% to an intraday high of ₹144 at 11:11 AM (IST) on the BSE. The share price gains after the announcement of a substantial order worth ₹105 crore from Bengaluru-based real estate firm Prestige Group. The order solidifies NITCO’s reputation as a leading provider of premium surface solutions for India’s real estate sector.

Expansion in Order Value

Under the agreement, NITCO will supply tiles, marble, and mosaic for several of Prestige Group’s real estate projects across major cities, including Bengaluru, Hyderabad, Chennai, Cochin, NCR, Mumbai, Pune, and Goa. The company expects the order size to grow significantly, potentially doubling to ₹210 crore, based on the scale of Prestige’s ongoing developments.

In a statement, NITCO highlighted its enduring relationship with the Razaak family of Prestige Group, spanning over four decades. “The company continues to expand its footprint and contribute to shaping India’s architectural landscape with innovative and sustainable surface solutions,” it noted, emphasising the exclusivity of this collaboration.

Management on New Order Win 

Vivek Talwar, Managing Director of NITCO, about the deal said, “We are delighted to strengthen our association with the Prestige Group, a name synonymous with excellence in real estate. This order underscores NITCO’s dedication to delivering world-class marble and tiles that enhance the aesthetic appeal of India’s finest properties.”

Earlier this week, NITCO confirmed securing the ₹105.40 crore order, which is expected to be executed within six months. This development highlights the company’s operational efficiency and its pivotal role in India’s thriving construction and real estate industries.

Market Performance and Shareholding Update

As of December 19, NITCO’s market capitalisation stood at ₹1,040.16 crore. According to September quarter data, foreign institutional investors (FIIs) hold a 10.85% stake in the company, while promoters retain a significant 46.79% ownership.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.