The House of Abhinandan Lodha Estate Holdings Pvt Ltd (HoABL) has partnered with NITCO Limited to develop a 40-acre mixed-use project in Alibaug, with an estimated revenue potential of ₹4,500 crore. The project will comprise luxury apartments, high-end townhouses and a boutique hotel, the company said on Aug 25.
The joint development is expected to generate ₹3,000 crore in revenue for HoABL and ₹1,500 crore for NITCO over five years, it said.
Under the partnership, HoABL will develop the premium project across 40 acres of land, further strengthening its presence in Alibaug’s high-value residential real estate market. The project will be HoABL’s second development in Alibaug, after Sol de Alibaug, which the company said has attracted a high-end clientele.
The project is expected to be developed in phases, with further details on the location, configuration, project timeline, and hospitality partner to be announced in due course. HoABL envisages an investment of ₹1,000 crores largely towards construction, the company said.
HoABL, through its wholly owned subsidiary HoABL Impactum Land Pvt. Ltd. (HoABL Impactum), has entered into a Memorandum of Understanding with NITCO Limited, its wholly owned subsidiary NITCO Realties Pvt. Ltd., and promoter Vivek Talwar for the development of land parcels at Thal and Lonare in Alibaug, Raigad, the company said.
The development is expected to be designed by global architects and partners as an integrated, premium destination offering a combination of high-quality residences, curated amenities, and hospitality, it said.
A boutique luxury hotel, proposed to be operated under Miros, is expected to complement the residential development and create a differentiated lifestyle experience for residents and visitors, it said.
HoABL expands beyond land development with residential, hospitality-led projects
The project marks HoABL’s continued evolution from a branded land developer into a broader real estate platform, with a focus on creating differentiated destinations across residential and hospitality formats.
“This joint venture represents an important step in our journey to create differentiated, high-quality destinations. By bringing together premium residential formats such as apartments and townhouses with a boutique hospitality offering, we aim to create an integrated development that delivers long-term value and a distinctive lifestyle experience,” said Abhinandan Lodha, Chairman, The House of Abhinandan Lodha.
According to NITCO, the transaction remains subject to conditions precedent, statutory approvals, and execution of definitive agreements. It clarified that HoABL Impactum is not related to NITCO’s promoter group and the transaction does not constitute a related-party transaction.
The House of Abhinandan Lodha has a presence in Alibaug through its 20+ acre uber premium plotted and villa developments, positioning the region as a high-end coastal investment destination.
Alibaug has rapidly evolved from a quiet coastal town into one of India’s premier housing destinations, driven by its unique blend of natural beauty, lifestyle appeal, expanding infrastructure, and rising demand for high-quality living. Reflecting this evolution and the destination's premium proposition, the project has attracted a distinguished clientele, including celebrities such as Amitabh Bachchan, Kriti Sanon, and Kartik Aaryan, as well as several prominent figures from the Indian corporate world.
The company has sold over 13 million sq. ft. and has 25 million sq. ft. under active development across 19 high-growth locations in five states over the last five years.