Nila Infrastructures Limited bags additional order worth Rs. 53.84cr from Adani group
Myequity news service | Date: 10-07-2018 23:45:00 IST
Nila Infrastructures Limited has today received an additional order pertaining to EPC contract worth Rs. 53.84cr 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). The project must be completed within 18 months.
Commenting on the project award, Mr. 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.”
Nila Infrastructures Limited stock closed nearly 2% up at Rs. 12.95.
About Nila Infrastructures Limited
Incorporated in the year 1990, Nila Infrastructures Limited has been promoted by first generation promoters, Mr. Manoj B. Vadodaria and Mr. Kiran B. Vadodaria. The Company is a well-established player in developing Civic Urban Infrastructure Projects on EPC, Turnkey, PPP Mode, as well as Private White Label Construction and Industrial Infrastructure Projects. The Company is registered as Special Category-I Buildings Class and pre-approved contractor with various civic bodies as well as established corporate real estate players. The Quality Management System of the Company is ISO 9001:2015 accredited. The Company has major presence in Gujarat and has expanded footprint into Rajasthan. The major clientele includes Ahmedabad Municipal Corporation (AMC), Government of Rajasthan, EPIL (a Mini-Ratna Company of GoI), Adani Group, etc.