Nila Infrastructures Limited (the "Company") has today received an additional order pertaining to EPC contract worth Rs. 538.4 million from Adani Group's Shantigram Estate Management Pvt. Ltd. for further construction at "Inspire Business Park, Phase-II" Project at Shantigram, Ahmedabad. The additional order envisages further construction of about 400,000 sq. ft. built-up area (one (1) tower having double basement+G+12 floors and two (2) towers with double basement+G+8 floors). It has to be completed within 18 months.
Commenting on the project award, Mr. Deep Vadodaria, Chief Operating Officer said: "This repeat order from Adani Group signifies their confidence in our execution capability and our track record of delivering Private White Label projects within the agreed time, quality and cost. This is in addition to the existing execution for Phase-I of Inspire Business Park with ~400,000 sq. ft. built-up area. At present, apart from this additional order, we are executing two (2) other projects for Adani Group with total ~7,00,000 sq. ft. built-up area and the projects are progressing as envisaged. This also enables us to diversify our orderbook and de-risk our business model from the long-term perspective."
Shares of NILA INFRASTRUCTURES LTD. was last trading in BSE at Rs.12.75 as compared to the previous close of Rs. 12.75. The total number of shares traded during the day was 241660 in over 255 trades.
The stock hit an intraday high of Rs. 13.25 and intraday low of 12.6. The net turnover during the day was Rs. 3133387.