Nitco532722Deal closure update
Conveyance deed registered for 75% of Kanjurmarg land; INR 143 crores consideration received
Conveyance deed registration completed for 75% of Nitco's Kanjurmarg, Mumbai land in favour of M/s. R Siddhatva Developers Private Limited (step-down subsidiary of M/s. Runwal Construction Private Limited).
By ScoutQuest · · 2 min read
- Conveyance Deed Registered
- 75% of Nitco's Kanjurmarg, Mumbai land
- Consideration Received
- INR 143 crores
- Expected Revenue from Commercial Space Sale
- approximately INR 250 crores
Conveyance deed registered for 75% of the land
- Nitco has completed the registration of the conveyance deed for 75% of the land situated at Kanjurmarg, Mumbai, in favour of M/s. R Siddhatva Developers Private Limited, a step-down subsidiary of M/s. Runwal Construction Private Limited.
- This followed the fulfilment of the requisite conditions and the receipt of the necessary approvals from the shareholders.
- Consideration of INR 143 crores against this 75% portion has already been received.
- The earlier letters on this transaction were dated May 13, 2026 and June 29, 2026.
The balance 25% of the land
- The agreement for sale for the remaining 25% of the land has also been registered in favour of the same entity.
- The conveyance deed for this portion will be executed upon receipt of 1,00,000 square feet of commercial RERA carpet area along with 8,500 square feet additional space in the basement.
- Nitco expects to realise revenue of approximately INR 250 crores from the sale of the commercial space.
How to read this
- A conveyance deed is the document that transfers ownership of land. Registering it for 75% of the Kanjurmarg land means that portion of the transaction has reached the completed stage as stated in the update.
- For the other 25%, only the agreement for sale has been registered and the conveyance deed is yet to be executed.
- The INR 143 crores relates to the 75% portion for which the conveyance deed is registered.
- The approximately INR 250 crores is what the company expects to realise from the sale of the commercial space, and is stated as an expectation.
What to watch
- The conveyance deed for the remaining 25% is linked to the company receiving the stated commercial RERA carpet area and the additional basement space.
More numbers
- Land covered by registered conveyance deed75%
- Consideration already receivedINR 143 crores
- Balance land under registered agreement for sale25%
- Commercial RERA carpet area to be received1,00,000 square feet
- Additional basement space to be received8,500 square feet
- Expected revenue from sale of commercial spaceINR 250 crores
Source: BSE · 14 Oct 2026
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.