Tiles to Triumph: NITCO Unlocks ₹100 Crore Windfall in Thane

NITCO Limited, a leading player in the tiles and flooring solutions industry, has declared a huge financial injection through a Thane property lease agreement. It is likely to earn a profit of ₹100 crore from the deal, which is a strategic step towards strengthening its financial position.

 

The leasing transaction concerns a prime asset in Thane, which NITCO has utilized to unlock huge value. The transaction is part of the company's overall strategy of maximizing its assets and building shareholder value. NITCO officials pointed out that the proceeds from this lease would be used to retire debt and invest in growth opportunities.

 

The expansion is consistent with NITCO's ongoing efforts to streamline operations and remain core business area-focused to establish long-term sustainability and profitability.

 

Source: Economic Times