Nesco Limited has informed the Exchange regarding Board meeting held on Jun 30, 2025. Intimation under Regulation 30 of SEBI LODR.
NESCO · price
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Nesco Limited's Board, at its meeting held on June 30, 2025, has approved a capital expenditure of up to Rs. 3,500 crores for the development of Tower 2 in its IT Park at Nesco Center, Goregaon (East), Mumbai. The capex is to be utilized over a period of six years, subject to receipt of timely statutory approvals. This follows the earlier Intimation of Disapproval (IOD) received from the Brihanmumbai Municipal Corporation (BMC) on March 29, 2025, which is a key preliminary approval for property development. The company has stated that the funding for this project will primarily be done from internal accruals.
This is a significant long-term capital commitment by Nesco Limited for expanding its IT Park business. Shareholders should view this positively as it signals growth plans, though the large capex spread over six years and dependence on internal accruals may impact short-term cash flows and dividend payouts.