NITCO & HoABL Partner for Rs 4,500 Cr Alibaug Project

NITCO has formally entered a joint venture with the House of Abhinandan Lodha (HoABL) to develop a 40-acre premium mixed-use project in Alibaug.

This strategic collaboration is projected to generate approximately Rs 4,500 crore in revenue over a five-year period, marking a significant move for both entities.

Key Project Financials

• Total project revenue: Rs 4,500 crore over five years
• NITCO’s anticipated share: Rs 1,500 crore over the same five-year span

The joint venture was formalized through a Memorandum of Understanding (MoU) between NITCO, including its wholly owned subsidiary NITCO Realties, and HoABL via its wholly owned subsidiary, HoABL Impactum Land.

This agreement targets land parcels situated in the Thal and Lonare villages of Alibaug, outlining an ambitious development plan.

Development Profile

• Premium multi-development project
• Luxury apartments and townhouses
• Curated amenities and hospitality offerings
• Proposed boutique hotel as part of the broader development

NITCO, primarily known for its manufacturing operations, specializes in ceramic tiles, vitrified tiles, mosaico, marble, cement terrazzo tiles, and cement.

This real estate venture represents a diversification for the company into a high-value mixed-use development sector.

The collaboration leverages HoABL’s development expertise with NITCO’s land assets, positioning the Alibaug project to capture demand for luxury living and hospitality in the region.

This joint effort underscores a strategic pivot for NITCO, aiming to unlock substantial value from its real estate holdings over the coming half-decade.