Jul 10: Ahmedabad-based real estate firm Nila Infrastructures Ltd on Tuesday 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 tower having double basement+G+12 floors and two towers with double basement+G+8 floors). It has to be completed within 18 months,” the company said.
Commenting on the project award, 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 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.”