Nila Infrastructure spurts up

Nila Infrastructure is a company that is hardly heard of on the streets. This Ahmedabad based company is engaged in infra/ EPC and realty projects. Amongst its notable work done are the building of  bus shelters of Ahmedabad's Bus Rapid Transit System (BRTS) and Ahmedabad Municipal Transport Service (AMTS), a textile park in Surat and media utilities in Rajkot.

It received another order on Friday. The company announced having received a work order from the Ahmedabad Municipal Corporation for Slum Rehabilitation and Redevelopment on PPP basis.

The project entails rehabilitation of about 80 slum-dwelling families living at Sabarmati, Kailashnagar, Ahmedabad. The total area under the project is about 4,166 sq. meters. The project will be redeveloped in 18 months at a total development cost of about Rs 6.80 crore. As consideration, Nila Infrastructures will get the balance vacant land admeasuring about 2,793 sq. meters on additional payment of an estimated premium of Rs 1.01 crore.

The company had ended Q4FY16 with a 85% (YoY) jump in net sales at Rs.69 crore, with net profit showing a 18% jump at Rs.6 crore.

The market is very enthused with this stock today. Going up intra day to Rs.14.90, up over 9%, its 52-week high stands at Rs.19.85. Market cap stands at Rs.528 crore.