Shares of this multibagger real estate stock hit its 5 percent upper circuit after the company successfully bagged multiple orders aggregating to Rs 306.88 crores. In the past month, the company’s stock gained nearly 11 percent for its holders.
With a market capitalization of Rs 495.51 crores, the stocks of Nila Infrastructures Limited opened their trading hour on Friday at Rs 11.55 and closed the session hitting the 5 percent upper circuit at a price of Rs 12.58 apiece.
Such sharp stock price movements were witnessed on Friday post an exchange filing with the BSE intimating about the receipt of multiple orders aggregating to an amount in favour of Rs 306.88 crores.
Firstly, the company, in a joint venture (JV) with “Nishant Construction Private Limited”, received an order from the ‘Gujarat Housing Board’ for the redevelopment work of the Integrated Group Housing Facility.
Nila Infrastructures Limited holds a 63 percent stake in the JV and the remaining 37 percent by Nishant Construction. Thus, out of the total development cost of INR 287.50 crores, the share of the real estate company comes to around Rs 181.13 crores.
In addition, Nila Infrastructures Limited received an order from the ‘Gujarat Housing Board’ worth Rs 125.75 crores for redevelopment work of the Integrated Group Housing Facility in Ahmedabad.
During the recent financial quarters, the company’s operating revenues and bottom-line numbers showed movements in opposing directions with the former, on one end, dipping from Rs 39.16 crores during Q2FY24 to Rs 34.31 crores during Q3FY24, and the latter, keeping the timeframe the same, showed contrasting movements by increasing from Rs 2.48 crores to Rs 3.21 crores.
Keeping a purview of the past six months, the company’s stock delivered approximately 128 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock six months ago, it would have converted to Rs 2.28 lakhs.
According to the latest shareholding data for the December 2023 quarter, the company’s Promoters hold a 61.9 percent stake followed by the Public (retail) Investors holding a 37.17 percent stake in the company.
Nila Infrastructures Limited is a company based in India that is engaged in the business of constructing and developing real estate & infrastructure projects. Having a sole business segment, i.e., the ‘infrastructure’ business, the company undertakes engineering, procurement, and construction (EPC) projects of housing schemes floated by Government authorities.
Written by Amit Madnani
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