Nila Spaces Ltd wins bid for major Residential Development Project at GIFT City - Gandhinagar

NILA SPACES LIMITED (NSE: NILASPACES; BSE:542231), a leading name in the real estate sector, has won bid for a significant residential building development project at GIFT SEZ. This project, located on building footprint 26-C in the dual-use non-processing area of GIFT City, involves the development rights for a minimum of 5,22,000 square feet.

The winning bid was calculated at INR 6,557 per square foot of development rights, bringing the total value of the development rights to INR 342.27 Crore. This prestigious project marks NSL's second major venture at GIFT City, following the successful VIDA project in the Domestic Tariff Area (DTA) of the city.

"We are honored to be successful bidder for this project, which reinforces our position as a key player in the development of GIFT City," said Deep Vadodaria, Director at NSL. "Our team is committed to delivering exceptional quality and innovative design, contributing to the growth and dynamism of this unique urban space. We are going to build a 100m building and plane invest INR 750 Crore in this project. With this initiative, we will develop something that is desperately needed for urban living spaces worldwide, with a design and idea centered on mental health and corporate burnout. We have been working to create the future of urban living".

Shares of Nila Spaces Limited was last trading in BSE at Rs. 7.42 as compared to the previous close of Rs. 7.28. The total number of shares traded during the day was 105831 in over 95 trades.

The stock hit an intraday high of Rs. 7.42 and intraday low of 7.42. The net turnover during the day was Rs. 785266.00.

Source : Equity Bulls

Keywords

NilaSpaces INE00S901012 Realty ResidentialDevelopmentProject OrderWin GIFTCity Gandhinagar