Nitco Limited — Updates, 18-12-2024: Press Release

NITCO has secured a significant order worth Rs. 105 crore from the Prestige Group, enhancing its standing as a reliable supplier of high-quality tiles and marble. This order will support various real estate projects across multiple cities and has the potential to double in size, reaching approximately Rs. 210 crore. NITCO's longstanding relationship with the Prestige Group highlights its commitment to excellence and quality in the tile industry.

Over the past year, NITCO has been implementing a turnaround strategy, which includes attracting a strategic investor, restructuring its debt, and infusing fresh capital. This order is a positive indication of the company's expanding footprint in India's architectural sector and aligns with its growth trajectory. Investors should watch closely as this development may signal potential revenue growth and an improved market position.