NITCO Share Price Surges Over 4%; Signs MoU for Alibaug Land Development

NITCO Limited has signed a Memorandum of Understanding (MoU) with HOABL Impactum Land Private Limited for the joint development of land in Alibaug, Maharashtra. The agreement was signed on August 24, 2026.  

The land is located in Thal and Lonare villages in Alibaug Taluka, Raigad. NITCO and its wholly owned subsidiary, Nitco Realties, are part of the agreement along with promoter Vivek Talwar.  

Deal Could Bring ₹1,500 Crore 

The development is expected to generate around ₹1,300 crore to ₹1,500 crore over five years. 

The money will be recorded in the books of NITCO and Nitco Realties over the relevant period, based on the terms of the deal and accounting rules.  

₹9 Crore Security Deposit Received 

As part of the transaction, NITCO has already received ₹9 crore by cheque as a security deposit.  

The company has not said that the full ₹1,300-1,500 crore will be received immediately. The amount is expected to come over the five-year period. 

HOABL Gets Development Rights 

Under the MoU, the owners have given development rights for the Alibaug land to HOABL. The land will be jointly developed according to the terms agreed between the parties.  

Final Agreements Still Pending 

The MoU is not the final agreement for the entire transaction. 

The parties will sign the final documents after the required conditions are met and any necessary approvals are received. NITCO will make another announcement when the transaction for the properties is fully completed.  

Read More: Puravankara Share Price in Focus; Enters JDA for 7.83-Acre Land Parcel in South-East Bengaluru! 

About NITCO 

NITCO is an Indian company that operates in the tiles, marble and mosaics business. The company is also involved in real estate through its group entities. 

NITCO Share Price Performance 

As of August 25, 2026, at 1:31 PM, NITCO share price was trading at ₹100.43 per share, reflecting a surge of 4.31% from the previous trading session. 

Conclusion 

NITCO has signed an MoU with HOABL to jointly develop its land in Alibaug. The deal is expected to generate ₹1,300-1,500 crore over five years, while ₹9 crore has already been received as a security deposit. The final agreements will be signed after the required conditions and approvals are completed.  

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