The House of Abhinandan Lodha and NITCO Partner for Premium Mixed-Use Development in Alibaug
The House of Abhinandan Lodha Estate Holdings Pvt Ltd. (HoABL) has entered into a joint venture (JV) with NITCO Limited for the development of a premium mixed-use project in Alibaug, Raigad. HoABL, through its wholly owned subsidiary HoABL Impactum Land Pvt. Ltd., and NITCO, through its wholly owned subsidiary NITCO Realties Pvt. Ltd., along with promoter Vivek Talwar, have signed a Memorandum of Understanding for the land parcels located at Thal and Lonare.The joint venture aims to develop a high-end residential and hospitality destination covering over 40 acres. The proposed project includes luxury apartments and townhouses, intended to significantly strengthen HoABL's presence in the high-value residential real estate segment. A boutique luxury hotel, which is slated to be operated under Miros, is set to complement the residential offering, creating a differentiated lifestyle experience for residents and visitors.
The proposed development is expected to generate substantial revenue over five years. HoABL anticipates Rs 3000 crore in revenue, while NITCO is expected to generate Rs 1500 crores from the project. HoABL has planned an investment of Rs 1,000 crores, which will be largely allocated towards construction.
Commenting on the partnership, Mr. Abhinandan Lodha, Chairman of The House of Abhinandan Lodha, stated that the joint venture is an important step toward creating differentiated, high-quality destinations. He noted that by combining premium residential formats like apartments and townhouses with a boutique hospitality offering, the aim is to deliver an integrated development that offers a distinctive lifestyle and long-term value.
The project is expected to be developed in phases. Further specifics regarding the location, configuration, and project timeline, including the hospitality partner, will be announced in due course.
NITCO clarified that the transaction does not constitute a related-party transaction, and HoABL Impactum is not related to NITCO's promoter group.
HoABL’s Presence in Alibaug
The House of Abhinandan Lodha has established a strong presence in Alibaug, having developed over 20 acres of uber premium plotted and villa developments. This flagship project distinguishes itself by offering 25+ amenities and two grand clubhouses, serviced by Miros Hotels, including Château de Alibaug and Sol de Alibaug.Founded in 2020, HoABL is identified as India's largest branded land developer, focusing on transparent, technology-led land ownership. In five years, the company has achieved significant scale, having sold over 13 million sq. ft. and having 25 million sq. ft. under active development across 19 high-growth locations in five states. HoABL has delivered projects such as Imperial Goa and Isle of Bliss, operating through a fully digital model. The company maintains a customer base exceeding 8,500, with over 65% comprising CEOs and CXOs from leading BFSI, pharma, and multinational companies.
NITCO Stock Price Movement
Shares of Nitco Limited today slipped by 1.54% to settle at ₹95.78, as the stock shed value in post-market trading. The company saw considerable activity during the session, with over 20.5 million shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.