Prestige Tiles Up Again—NITCO Scores Another ₹450 Million Order

Image Source: Chennai Properties

NITCO Ltd (NCOT.NS) has secured an additional order of ₹450 million (₹45 crore) for tile and marble supply, strengthening its long-standing association with Prestige Group, India's leading real estate developer. After an earlier order of ₹105.4 crore, the total anticipated business from Prestige has gone up to over ₹210 crore.

1. Order Highlights & Execution Timeline

The new order includes tiles, marble, and mosaic for different Prestige Group projects in India.
NITCO is sure of completion within six months, owing to its robust supply chain and production capabilities.
The company anticipates additional orders in the pipeline, supported by Prestige's ongoing realty projects.

2. Strategic Partnership & Market Response

NITCO and Prestige Group have a 40-year relationship, with Prestige using only surface solutions from NITCO exclusively.
The order has propelled NITCO's stock, which had its last sale at ₹141.30, up 1.84% on the BSE.
Managing Director Vivek Talwar termed the order as a "testament to NITCO's quality and trust," solidifying its position in India's premium construction sector.

3. Growth Outlook

NITCO continues expanding its presence in luxury real estate development projects in Bangalore, Hyderabad, Chennai, NCR, Mumbai, and Goa.

With a market capitalization of more than ₹1,000 crore, the company has recorded 351% share value appreciation in 2024, reflecting strong investor confidence.

Sources: CNBC TV18, Economic Times, Projects Today