Tiles Manufacturer Receives Order Worth Rs 261 Crore from Prestige Estates Projects Ltd

The stock is up by 97.6 per cent from its 52-week low of Rs 68.58 per share and has given multibagger returns of 640 per cent in 5 years.

Nitco Limited has received an additional Letter of Intent (LoI) from Prestige Estates Projects Limited for a domestic order of tiles valued at approximately Rs 45 crore. This new order builds upon previous successful project discussions, bringing the total value of orders received from Prestige Estates Projects Limited to an impressive Rs 261 crore.

These orders, encompassing tiles, marble and mosaic, are slated for potential execution over the next twelve months. The additional order for tiles underscores the robust business environment and highlights the strong confidence that renowned developers like Prestige Estates Projects Limited have in Nitco Limited's execution capabilities and product quality.

Nitco Limited, established in 1966, is a prominent player in the tiles and marble industry, boasting over 50 retail outlets across India and a growing international presence. The company manufactures a diverse range of products, including floor tiles, wall tiles, outdoor tiles, commercial tiles and various types of marble and mosaic. Nitco continually expands its offerings with new collections such as the Prada, Cotto, RIO and Casa Eterna series, catering to a wide array of design and functional preferences for both residential and commercial applications.

The company has of over Rs 3,000 crore and as of March 2025, the promoters hold 16.23 per cent, FIIs hold 0.41 per cent, DIIs hold 1.88 per cent and the remaining 81.48 per cent stake is owned by pubic shareholders. The stock is up by 97.6 per cent from its 52-week low of Rs 68.58 per share and has given multibagger returns of 640 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.