Nitco Limited — Board Meeting, 11-08-2025: Outcome of Board Meeting

NITCO Ltd. announced its Q1 FY26 consolidated financial results, posting a strong profit of Rs 47.46 Cr. This turnaround was significantly boosted by a Joint Development Agreement for Alibaug land, recognizing Rs 58.42 Cr as income. The company previously raised Rs 463.24 Cr through preferential allotment, with Rs 391.32 Cr already utilized for debt reduction, working capital, and real estate acquisition. On a cautionary note, NITCO faces a Rs 170 Cr penalty from ADGFT, currently challenged in court. A sale of Kanjurmarg property, with an Rs 143 Cr advance received, is also pending finalization.