The shares of this Realty construction and developer jumped 3 percent in the day’s trade after it bags another order from Gujarat Housing Board for the redevelopment work and construction of 456 low income group affordable housing units, for a development cost of Rs. 53 Crores.
At 11:13 a.m the shares of Nila Infrastructures Limited were trading at Rs. 6.60 per share, up 1.54 percent from its previous day close price and its market capitalization is Rs. 254 Crores.
As per the company’s filing, Nila Infrastructure Limited has received a letter of intent from Gujarat Housing Board, for the redevelopment work of Integrated Group Housing Facility at Khokhara, Ahmedabad, construction of 456 Low Income Group affordable housing units for total development cost of ~Rs. 53 Crore.
The project shall be on PPP (Public private partnership) basis where the Company shall receive transferable development rights for a consideration of Rs. 53 Crores and realization of additionally constructed 104 (1bhk), 224 (2bhk) housing units and 11 commercial shops as consideration.
The company’s revenue grew 38.13 percent from Rs. 83.32 Crores in FY22 to Rs. 115.09 Crores in FY23, accompanied by profits of Rs. 1.21 Crores in both the years.
It has reported a return on equity (ROE) of 0.91 percent and a return on capital employed(ROCE) of 5.96 percent, it has made decent returns on its equity and capital employed.
Nila Infrastructures is involved in the construction of Affordable Housing Projects, and the development of various infrastructure, it has its operations and presence mostly in Gujarat and Rajasthan.
Note: Due to the illiquidity in penny stocks, the stock can hit its assigned circuit levels with just a minor increase in volume of trades. Even if the stock prices are within the usual buying range for the investors and offer enormous potential profits, penny stocks are quite dangerous for retail investors.
Written by: Bharath K.S
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