Nila Infrastructures Ltd’s shares were up by 18.43 per cent after the company announced bagging a work order for a slum development project. The work order involves the rehabilitation and development of residential units in ‘Ramapir no Tekro,’ a slum area located in Wadaj, Ahmedabad. SIPL, as the primary contractor, has delegated the construction and development of 1,694 residential units, with a substantial total development cost of ₹101.64 crore allocated for this project.
This project was originally awarded by the Ahmedabad Municipal Corporation (AMC) to Shree Infracon Private Limited (SIPL) under the Slum Rehabilitation and Redevelopment Policy of 2013, aligning with the Pradhanmantri Awas Yojna’s objectives. The execution timeline for this project is set at 18 months
The project encompasses a wide range of construction activities, including RCC work, masonry work, frame fitting with plaster work, and the provision of necessary materials and labor.
The shares were up by 18.43 per cent to ₹6.62 at 10.47 am on the BSE.