Nitco Limited appointed Arihant Kothari as Company Secretary and Compliance Officer on September 15, 2026. The Board also designated him as Key Managerial Personnel.

The appointment follows a recommendation from the Nomination and Remuneration Committee. Mr. Kothari assumes the role of Senior Management Personnel effective immediately.

Appointment Details

The Board approved the appointment during its meeting held on Tuesday, September 15, 2026. The meeting commenced at 3:00 pm and concluded at 3:40 pm.

Mr. Kothari holds Membership No. A81823. He is designated as Key Managerial Personnel under Section 203 of the Companies Act, 2013.

Professional Profile

Arihant Kothari is a qualified Company Secretary, Chartered Accountant, and Cost and Management Accountant. He brings over 14 years of experience across manufacturing, trading, and service sectors.

His expertise includes financial reporting, budgeting, costing, treasury, taxation, corporate compliance, internal controls, risk management, and ERP implementation. He has exposure to both plant-level financial operations and corporate-level strategic finance.

Key Managerial Personnel

The company disclosed the following Key Managerial Personnel for determining materiality of events or transactions:

Investor grievances can be directed to investorgrievances@nitco.in or (022- 25772800).

Nitco Limited entered into a joint venture on August 24, 2026, with The House of Abhinandan Lodha Estate Holdings Pvt Ltd (HoABL) to develop a premium mixed-use project in Alibaug, Maharashtra. The agreement involves a combined potential consideration of ₹4,500 crore over five years.

The transaction includes Nitco Realties Private Limited, a wholly owned subsidiary, and promoter Vivek Talwar as the owners granting development rights. The counterparty is HoABL Impactum Land Private Limited, a wholly owned subsidiary of HoABL. The parties have received a security deposit of ₹9 crore via cheque.

Transaction Structure

The owners granted development rights for parcels of land located in Thal and Lonare villages within Alibaug Taluka, Raigad district. The consideration will accrue to and be recognized in the books of Nitco Limited and Nitco Realties Private Limited according to applicable accounting standards.

Definitive agreements will be executed upon fulfillment of condition precedents and requisite approvals. Nitco Limited stated it will provide further intimation to stock exchanges when the transaction for immovable properties is fully completed.

Project Details

HoABL plans to develop a premium multi-development project comprising luxury apartments and townhouses over 40 acres of land. The development is expected to include a boutique luxury hotel operated under Miros. HoABL envisages an investment of ₹1,000 crore largely towards construction.

This marks HoABL's second project in Alibaug after Sol-de-Alibaug. The project aims to create an integrated destination offering high-quality residences, curated amenities, and hospitality.

What the Numbers Show

The deal structure indicates a phased revenue recognition model rather than an immediate cash influx. With only ₹9 crore received as a security deposit against a total potential value of up to ₹1,500 crore for Nitco, the majority of the value remains contingent on future development milestones and regulatory approvals over the five-year period. The combined potential revenue of ₹4,500 crore underscores the scale of the joint venture.

Key Details

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. HoABL Impactum Land Private Limited does not belong to the promoter or promoter group, ensuring the transaction is at arm's length.