Nitco Wins Big Orders from Lodha & Prestige Estates

Tile and marble firm Nitco Ltd has bagged new orders worth Rs.19.44 crore from top real estate builders Prestige Estates Projects and Lodha Group, a milestone in its growth in the high-end building materials segment.

The deals are for supplying marble and tiles to ongoing residential and commercial developments spearheaded by the two developers, with the execution to be done within the next 12 months. Nitco reiterated that the deals are being executed on an arm's length basis with no promoter or related party involvement.

"This order solidifies our track record for quality and timely completion in the high-end construction market. Our association with India's leading developers is a reflection of our abilities and increasing market confidence." stated a Nitco representative. 

Key highlights:

• Nitco secures Rs.19.44 crore orders from Prestige Estates and Lodha Group to supply tiles and marble for ongoing residential and commercial projects over the next 12 months
• Strong market confidence reflected in Nitco’s collaboration with leading developers, reinforcing its position in the premium building materials segment; transactions executed on an arm's length basis
• Financial turnaround boosts momentum as Nitco posted a Q1 FY26 net profit of Rs.47.46 crore (vs. Rs.43.52 crore loss YoY), with revenue surging 114.8 percent to Rs.149.66 crore

The news follows growing demand for construction products, fueled by strong real estate activity throughout India. Experts comment that Nitco's order book strength is directly related to the pace of infrastructure and housing projects.

The news comes after Nitco's strong turnaround in Q1 FY26, when the company delivered a consolidated net profit of Rs.47.46 crore, reversing from a net loss of Rs.43.52 crore in Q1 FY25. Revenue also grew 114.8 percent year-on-year to Rs.149.66 crore.

Also Read: Lodha Reports Record Q1 FY26 Pre-Sales of INR 44.5 Bn

After the news, Nitco's shares gained by 2.89 percent intraday on Monday to Rs.118.8, its largest one-day rise since September 12, before closing modestly higher at Rs.116.

The stock has lagged this year, down 8 percent, vs. a 6 percent increase in the Nifty 50, but now trades at 2x its 30-day average volume, indicating increased investor interest.