Nitco Limited, a prominent name in India's tile, marble, and mosaic segment, has announced a major business development: the company has received a fresh Letter of Intent (LoI) worth ₹45 crore from Prestige Estates Projects Limited. This takes the cumulative order value from Prestige Estates to ₹261 crore, including earlier orders announced in December 2024 and April 2025.

The orders are to be executed over a twelve-month period, and they reinforce Nitco’s market positioning as a trusted partner for premium building materials by top-tier real estate developers.

Consistent Momentum in Orders from Prestige Estates

This is the third communication by Nitco regarding large orders from Prestige Estates, a reputed real estate group in India. The timeline of developments is as follows:

• December 16, 2024: Initial order worth part of the total ₹216 crore announced

• April 30, 2025: Confirmation of the cumulative ₹216 crore order for tiles, marble, and mosaic

• June 23, 2025: Receipt of additional LoI worth ₹45 crore for tile supply, taking total project value to ₹261 crore

The company said the orders will be fulfilled over 12 months, reflecting strong execution visibility for FY26.

Details of the Latest Contract

The current order is a domestic supply contract for tiles and is backed by a formal Letter of Intent (LoI). It includes:

• Nature of contract: Supply of tiles

• Client: Prestige Estates Projects Limited

• Value of latest LoI: ₹45 crore (approx.)

• Total value of cumulative orders: ₹261 crore

• Execution timeframe: Likely over the next 12 months

This latest addition highlights a growing project pipeline for Nitco from real estate developers looking for quality materials and timely delivery.

Strengthening Market Trust

Vivek Talwar, Chairman & Managing Director of Nitco Limited, expressed satisfaction on the company's growing relationship with Prestige Estates, calling it a testament to Nitco’s execution capabilities and brand reputation.

In the official communication, the company underlined that the robust business environment and client trust are enabling consistent large-volume orders. This order also reflects continued strength in the Indian construction and infrastructure sectors, which are driving demand for high-quality tiling and surface materials.

No Related Party Concerns or Promoter Interests

In accordance with SEBI Regulation 30 and the circular SEBI/HO/CFD/PoD2/CIR/P/0155, Nitco has confirmed:

• The awarding entity (Prestige Estates) is not a related party

• No promoter or group company of Nitco holds any interest in Prestige Estates

• The order is a pure arm’s length transaction, devoid of any conflict of interest

These disclosures add transparency to the order announcement and confirm compliance with corporate governance norms.

Implications for Investors and Stakeholders

This ₹45 crore addition — when combined with the earlier ₹216 crore order — sends positive signals to both retail and institutional investors:

• Revenue visibility improves for the next four quarters

• Enhances working capital cycles and production throughput

• Strengthens Nitco’s reputation in the luxury and premium tile segment

• Aligns with broader trends in real estate recovery and infrastructure spending

Real Estate Sector Outlook Supporting Tile Demand

India’s residential and commercial construction sector continues to show momentum post-pandemic, with developers resuming projects at scale. Real estate firms like Prestige Estates, Brigade, and Godrej Properties have accelerated launches and construction, creating strong demand for tiles, marble, and other surfacing materials.

Nitco is poised to capitalize on this growth, with operational scale, product design diversity, and established logistics networks.

Conclusion: A Strategic Win for Nitco

With this fresh ₹45 crore tile order, Nitco has once again proven its core strength in executing bulk supply orders for large-scale real estate developers. The total project order value of ₹261 crore, all to be fulfilled over 12 months, reinforces Nitco’s position as a market leader in building materials.

As infrastructure and housing investment gain momentum, Nitco is expected to benefit from sustained demand, while improving financial visibility for shareholders.

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