Nila Infrastructures Limited receives redevelopment project at Indira Gandhi Colony, Kathwada

Nila Infrastructures Limited has received Letter of Acceptance from Gujarat Housing Board for construction and redevelopment of integrated group housing facility.

The project awarded to the Company is for the redevelopment work, of Integrated Group Housing Facility at Indira Gandhi Colony, Slump Clearance Cell, Kathwada, Ahmedabad.

The project envisages construction of total 968 affordable housing units comprising of 484 Economic Weaker Section (EWS I), 242 Lower Income Group (LIG), units, 242 Economic Weaker Section (EWS II)for total development cost of almost INR 125.75 Crore.

The project shall be on PPP basis whereby the Company shall receive transferable development rights of aggregate value of INR 125.75 Crore and sale realization of additionally constructed 649 housing units and 4482.12 Sq. mt. of Commercial area as consideration.

Shares of Nila Infrastructures Limited was last trading in BSE at Rs. 11.99 as compared to the previous close of Rs. 12.39. The total number of shares traded during the day was 76093 in over 209 trades.

The stock hit an intraday high of Rs. 12.30 and intraday low of 11.78. The net turnover during the day was Rs. 903481.00.

Source : Equity Bulls

Keywords

NilaInfrastructures INE937C01029 LoA GujaratHousingBoard Redevelopment GroupHousingFacility