Nitco Limited has informed the Exchange regarding 'Update on Prestige Estates Projects Limited order'.
NITCO · price
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Awaiting price reaction for this filing.
Nitco Limited has received a Letter of Intent (LoI) from Prestige Estates Projects Limited for an additional tile supply order worth approximately Rs. 45 Crores. This takes the cumulative order value from Prestige Estates to around Rs. 261 Crores, to be executed over the next twelve months. The original order of Rs. 216 Crores (covering Tiles, Marble and Mosaic) was disclosed in December 2024, with an update in April 2025. The order is domestic, not a related-party transaction, and signals continued trust from a reputed real estate developer in Nitco's execution capabilities.
Positive for shareholders — the additional order strengthens Nitco's order book and provides revenue visibility over the coming year, reflecting improving demand from the real estate sector. However, the stock may see only a modest reaction as this is an incremental update rather than a fresh large-scale win.