Nila Infra Bags Rs 1,073-Mn Affordable Housing Construction Contract | CORPORATE ETHOS

Nila Infra Bags Rs 1,073-Mn Affordable Housing Construction Contract

By: | October 13, 2017

Oct 13: Ahmedabad-based real estate firm Nila Infrastructures Ltd has secured an affordable housing construction contract worth Rs 1,072.8 million in Rajasthan.

“Nila Infrastructures Ltd has today received a work order pertaining to construction contract worth Rs 1,072.8 million from Jodhpur Development Authority (JoDA), Government of Rajasthan (GoR), for construction of Economically Weaker Section (EWS) and Low Income Group (LIG) houses with G+3 pattern and internal Development as per Model No. 4A (i) of Chief Minister Jan Awas Yojana 2015 at Khasra No. 88, Village Barli, District Jodhpur,” the company said in a statement.

According to the company, the project envisages overall construction of about 1.2 million sq. ft. built-up area and has to be completed within 48 months.

“The township / complex / campus will comprise total 3,152 residential units i.e. 2,128 for EWS with ~325 sq. ft. super built-up area and 1,024 for LIG with ~500 sq. ft. super built-up area. The company will also get the balance vacant land of 7.5 acres towards part-remuneration, once the project reaches 50% completion,” it said.

Deep Vadodaria, Chief Operating Officer (COO) said: “we are glad to receive our single largest work order from JoDA in affordable housing segment. As per our commitment vide our Memorandum of Understanding with GoR under ‘Resurgent Rajasthan Partnership Summit – 2015’, we have been consistently participating in apt tenders and securing meaningful work orders – with this one being our seventh. Having gained proprietary knowledge about project execution at Jodhpur from our current ongoing affordable housing project at Village Aanganwa, Jodhpur; we are quite confident to execute this second affordable housing project at Jodhpur very efficiently.”

Incorporated in 1990, Nila Infrastructures Ltd has been promoted by Manoj B Vadodaria and Kiran B Vadodaria. The company is a leading player in developing civic urban infrastructure projects on EPC, turnkey, PPP mode, as well as private white label construction and industrial infrastructure projects.

Shares of the company were trading at Rs 19.10, up 3.24% from the previous closing of Rs 18.50, on BSE at 2.09 pm today.