Nila Infra bags construction contract worth Rs441.6mn

The project involves construction of about 180,000 sq. ft. and will be completed within 24 months.

Dec 28, 2017 11:12 IST India Infoline News Service

Nila Infrastructures entered into an agreement for construction and implementation of project with Vyapti Infrabuild Pvt Ltd for an amount of Rs441.6mn.

It envisages construction of 552 housing units under slum rehabilitation project, at Radha Raman Ni Chali, Bapunagar, Ahmedabad, being executed by Vyapti with the Ahmedabad Municipal Corporation (AMC) under the aegis of Government of Gujarat, Urban Development and Urban Housing Department’s Slum Rehabilitation and Redevelopment Policy 2013 – Integrated Slum In-situ Development on Public Private Partnership (PPP) basis. The project involves construction of about 180,000 sq. ft. and shall be completed within 24 months.

Deep Vadodaria, COO of the company said, “We congratulate Vyapti for securing such urban development infrastructure project that is beneficial to the society at large. Getting such EPC order on Turnkey basis from the reputed firm that is promoted by established realtors is an acknowledgement of our expertise in Slum Rehabilitation and Redevelopment Project Management and execution. This project stands to benefit from our proprietary skills as apart from construction, this envisages survey, coordination with slum-dwellers through NGO, relocation of slum-dwellers and overall Slum Rehabilitation and Redevelopment Project Management and execution."

The stock ended at Rs 27.3, down by Rs 0.35 or 1.27% from its previous closing of Rs 27.65 on the BSE. The scrip opened at Rs27.7 and has touched a high and low of Rs28.15 and Rs26.85, respectively.

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