Nesco Limited updates on Tower 2 development in IT Park

Nesco Limited had earlier announced the receipt of Intimation of Disapproval ('IOD') from the Brihanmumbai Municipal Corporation ('BMC') for development of proposed Tower 2 in IT Park at Nesco Center, Goregaon (East), Mumbai, detailing information on the said development.

IOD is a crucial preliminary approval from the local authorities for development / redevelopment of a property.

Following the receipt of the said IOD and considering the terms and conditions mentioned in the said approval, the Board at its meeting held today i.e. 30 June 2025 has reviewed and approved a capex of upto Rs. 3,500 crs for development of Tower 2 in IT Park to be utilised over a period of six years subject to receipt of timely statutory approvals. The funding for this project shall primarily be done from internal accruals.

Shares of Nesco Limited was last trading in BSE at Rs. 1166.75 as compared to the previous close of Rs. 1117.65. The total number of shares traded during the day was 7080 in over 1168 trades.

The stock hit an intraday high of Rs. 1179.75 and intraday low of 1120.65. The net turnover during the day was Rs. 8135316.00.

Source : Equity Bulls

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Nesco INE317F01035 Updates Capex Tower2 ITPark