EL7.AI
StocksMedium•3 November 2026•
2 min read

HoABL Plans ₹1,000 Crore Investment in 40-Acre Alibaug Project

Key Facts

1The proposed project spans 40 acres in Thal and Lonari, Alibaug.
2HoABL expects to invest about ₹1,000 crore, with most of it directed toward construction.
3NITCO received a cheque for ₹9 crore from its partner as a security deposit.
4NITCO shares closed down 1.87% at ₹94.55 on August 25, 2026, while the benchmark index rose 0.37%.

NITCO and HoABL announced a memorandum of understanding on August 25, 2026, to develop a mixed-use project across 40 acres in Alibaug, in Raigad district. The land includes plots in Thal and Lonari, according to Business Standard. HoABL expects to invest about ₹1,000 crore in the project, with most of the investment directed toward construction. That figure forms part of the proposed development plan and does not represent the project's total cost. The proposed arrangement remains at the memorandum-of-understanding stage, with the transaction subject to conditions, approvals and final agreements.

HoABL said the project would be developed in phases, with details on the configuration, timeline and hospitality partner to be announced later. The development scope includes apartments and townhouses on plots spread across 40 acres, according to Business Standard. The memorandum assigns HoABL responsibility for development, construction and branding, while the plots are owned by NITCO affiliates. Execution, however, remains conditional on fulfilling prior conditions, obtaining regulatory approvals and entering into final agreements. The practical details clarifying the sequence of phases, project components and hospitality partner have yet to be finalized.

According to PTI, NITCO received a cheque for ₹9 crore from its partner as a security deposit. This is part of the arrangement announced in August and does not change its status as a memorandum of understanding subject to conditions, approvals and final agreements. In the August 25 session, NITCO shares closed down 1.87% at ₹94.55 on the Bombay Stock Exchange. In the same session, the benchmark index rose 0.37%, according to PTI data. The day's share and index movements show a divergence between the company's performance and the broader market during the session.

NITCO's annual report data show that its consolidated revenue from operations was ₹327.74 crore in fiscal year 2024–25, compared with ₹330.08 crore in the previous year. The company said revenue fell by ₹2.34 crore year on year. In the same fiscal year, the company posted a consolidated loss before interest, depreciation and taxes of ₹21.38 crore, compared with a loss of ₹38.01 crore in 2023–24. These figures provide financial context for the company in the year before the memorandum of understanding was announced. The proposed project is expected to be developed in phases, with details on the configuration, timeline and hospitality partner to be announced later.