Nitco and HoABL sign ₹1,500 crore Alibaug real estate deal

Nitco Limited, its subsidiary Nitco Realties, and promoter Vivek Talwar have signed a memorandum of understanding with The House of Abhinandan Lodha (HoABL) to develop a large-scale residential and hospitality project in Alibaug, Maharashtra.

The joint venture focuses on land parcels in the villages of Thal and Lonare within the Alibaug Taluka. Spanning approximately 40 acres, the premium mixed-use development is expected to include luxury apartments, townhouses, and a boutique hotel to be operated under HoABL’s Miros hospitality brand.

Financial projections suggest the project could generate up to ₹1,500 crore for Nitco and ₹3,000 crore in revenue for HoABL over the next five years. While a ₹9 crore security deposit has been paid to Nitco, the full realization of these figures depends on the signing of definitive agreements and necessary regulatory approvals. This partnership marks a strategic move for Nitco into real estate development and expands HoABL’s footprint in the luxury housing market.