Penny Stock Under Rs 12: This Real Estate and Infrastructural Development Company Received Award of Rs 129.25 Crore Construction Contract for Premium Residential Project in GIFT City
The company has a market capitalization of Rs 424 crore and has delivered a 1-year return of 40.23 per cent and an impressive 3-year return of 221.49 per cent
Nila Spaces Limited has announced a major milestone with its wholly owned subsidiary, Nila Urban Living Private Limited, awarding a significant construction contract valued at Rs 129.25 crore to Riveria Infrastructures Private Limited. The project involves the core and shell construction of residential towers on a prime plot acquired last year in GIFT City, India’s first smart city. This development aligns with Nila Spaces' vision of 'Power Living,' focusing on creating high-energy, purpose-driven, and wellness-oriented residential environments.
Set to be completed in 27 months, the project aims to redefine residential living standards within Gujarat’s growing real estate landscape. Deep Vadodarla, CEO of Nila Spaces Limited, said, "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 city. 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."
DSIJ’s ‘Flash News Investment' weekly Newsletter recommends profit-making ideas for you based on fundamental and technical analysis. If this interests you, download the service details here.
Nila Spaces Limited, incorporated in 2000, is a real estate company specialising in residential and commercial projects. Part of the Ahmedabad-based Sambhaav Group, the company emerged after the demerger of Nila Infrastructures Ltd’s real estate arm. It is known for executing projects for government and semi-government entities as well as turnkey civic urban infrastructure developments. Its portfolio includes prime real estate in and around Ahmedabad, notably the luxurious VIDA residential scheme at GIFT City. The VIDA project features architectural designs by internationally renowned firms and amenities like SKY Park, offering over 65,000 sq. ft. of facilities, including twin tower connecting sky bridges.
In FY23, Nila Spaces derived 29 per cent of its revenue from construction projects, 53 per cent from interest income, 7 per cent from profit on the sale of fixed assets, and 11 per cent from other non-operating income. The company is also innovating with new property investment platforms, including studio units and fractional ownership models. Additionally, Nila Spaces is incorporating blockchain technology to improve transaction security and transparency in real estate dealings.
As of June 05, 2025, Nila Spaces Limited shares were trading at Rs 10.97, down from a 52-week high of Rs 19.4 but above the 52-week low of Rs 7. The company has a market capitalization of Rs 424 crore and has delivered a 1-year return of 40.23 per cent and an impressive 3-year return of 221.49 per cent, within the Small-Cap and Mid-Cap space. Its Price-Earnings (PE) ratio stands at 29.36. Prominent public shareholders include Shobha Imtiyaz Desai (1.59 per cent), Nivedita Ritesh Oswal (1.05 per cent), and the Investor Education and Protection Fund (IEPF) with a 1.01 per cent stake.
Nila Spaces is committed to sustainability, community engagement, and holistic well-being, positioning itself as a socially responsible brand in India’s evolving real estate ecosystem. Its focus on wellness-oriented environments and integration of smart city features underlines its approach to modern urban living in Gujarat and beyond.
Disclaimer: The article is for informational purposes only and not investment advice.