NITCO added 2.06% to Rs 142.65 after the company said that it has secured Rs 105.40 crore order from Prestige Estates Projects for the supply of tiles, marble, and mosaic.
Shares of Prestige Estates Projects gained 1.34% to Rs 1,854.80 on the BSE.The said order, which involves the supply of tiles, marble, and mosaic products, will be executed over a period of six months.
Based on the current ongoing projects, the company anticipates receiving orders worth Rs 104 crore in the near future from Prestige Estates Projects.
NITCO makes designer tiles. Its product ranges from ceramic tiles, mosaic tiles, vitrified tiles, vitrified flooring, and marble.
Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments, viz., residential, office, retail, hospitality, property management, and warehouses, with operations in more than 13 major locations in India. The group has completed 300 projects spanning a developable area of approximately 190 million square feet.
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