- Business
- NITCO Limited manufactures and markets a comprehensive range of floor and wall tiles, marble, and mosaico products in India; its core offerings include glazed vitrified tiles, vitrified DCH, heavy duty and SST vitrified tiles, full body vitrified tiles, wooden wall tiles, wooden ceramic tiles, wooden vitrified tiles, ceramic wall and floor tiles, porcelain tiles, digital and Italian tiles, as well as imported marble slabs from Italy and global sources, mosaico designs, and natural stone options such as granite, onyx, and semi-precious stones; the company also engages in real estate development and operates over 50 retail outlets nationwide. Founded in 1953 and incorporated as a public limited company in 1966, NITCO Limited maintains its headquarters in Mumbai, Maharashtra, with manufacturing facilities in Maharashtra and Silvassa, primarily serving residential, commercial, and project customers through independent dealers, distributors, and modern trade channels across India and select international markets. In recent developments, Authum Investment & Infrastructure Ltd became the majority stakeholder in April 2024 with a 49.19% holding following asset assignment from JM Financial ARC, enabling financial restructuring and sales expansion including project tie-ups with Runwal Group, Prestige Group, and M3M; the company secured a Rs105.40 crore order from Prestige Estates Projects Ltd in December 2024 for tiles, marble, and mosaico supply; additionally, NITCO announced acquisitions of Rejoice Realty Pvt Ltd, Norita Investments Pvt Ltd, and Reliant Properties & Realty LLP in January 2025, entered a joint development agreement with Total Environment for a 70-acre Alibaug land parcel targeting over Rs500 crore revenue, and advanced monetization of its Kanjurmarg land valued at Rs232 crore with Rs143 crore received.