Nila Urban Living awards Rs. 129.25 Crore Construction Contract to Riveria Infrastructures for Premium Residential Project at GIFT City

NILA Spaces Limited is pleased to announce that it's wholly owned subsidiary Nila Urban Living Private Limited has awarded the construction contract for its upcoming premium residential development at GIFT City to Riveria Infrastructures Private Limited. The project is located on a prime plot for which the rights were secured last year through a record bid of Rs. 6,557 per square foot for development rights in the Special Economic Zone (SEZ). This makes it the most expensive parcel of land, in absolute terms, in the state of Gujarat.

The construction contract, valued at Rs. 129.25 crores (Indian Rupees One Hundred Twenty-Nine Crores and Twenty-Five Lakhs only), includes the core and shell construction of the residential towers. The project is scheduled to be completed over 27 months from the date of commencement.

This development marks a significant milestone in NILA Spaces' journey to deliver on its vision of Power Living - a philosophy rooted in high-energy, purpose-driven, and wellness-oriented environments. The upcoming residential enclave will serve as a sanctuary within the urban landscape, offering thoughtfully designed living spaces that promote relaxation, rejuvenation, and high performance.

Deep Vadodaria, CEO ot NILA Spaces Limited, stated: "This project is a powerful expression of what we call Power Living - where every element is designed to help residents live with intention, vitality, and balance. With this new development at GIFT City, we're not just building homes we're crafting a lifestyle that redefines what it means to thrive in a modern ciy. We're excited to work with Riveria Infrastructure to bring this vision to life and set a new benchmark for residential development in India's first smart city."

With this project, NILA Spaces aims to set new standards in sustainability, community engagement, and holistic well-being, positioning itself as a future-ready and socially responsible brand in India's evolving real estate ecosystem.

Shares of Nila Spaces Limited was last trading in BSE at Rs. 10.97 as compared to the previous close of Rs. 10.77. The total number of shares traded during the day was 126808 in over 1013 trades.

The stock hit an intraday high of Rs. 11.13 and intraday low of 10.89. The net turnover during the day was Rs. 1394477.00.

Source : Equity Bulls

Keywords

NilaSpaces INE00S901012 Realty NilaUrbanLiving PremiumResidentialDevelopment GIFTCity Contract RiveriaInfrastructures