New order boosts Nila Infra

Nila Infrastructures surged 5.42% to Rs 14.40 at 10:36 IST on BSE after the company said it has received a work order worth about Rs 6.80 crore from Ahmedabad Municipal Corporation.

The announcement was made after market hours on Friday, 8 July 2016.

Meanwhile, the S&P BSE Sensex was up 471.85 points or 1.74% at 27,598.75.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 1.13 lakh shares in the past one quarter. The stock hit a high of Rs 14.90 and a low of Rs 14.11 so far during the day. The stock had hit a record high of Rs 19.85 on 28 December 2015. The stock had hit a 52-week low of Rs 7.80 on 10 September 2015. The stock had outperformed the market over the past one month till 8 July 2016, surging 13.83% compared with Sensex's 0.39% rise. The scrip had also outperformed the market in past one quarter, advancing 8.67% as against Sensex's 9.94% rise.

The small-cap company has equity capital of Rs 39.27 crore. Face value per share is Rs 1.

The work order is for the Integrated Slum In-situ Development for P.P.P. Project (Phase-II) of about 80 residential units at Ahmedabad under Urban Development & Urban Housing Development, Government of Gujarat's Slum Rehabilitation and Redevelopment Policy-2013. The project envisages to rehabilitate 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 said in a statement.

Nila Infrastructures' net profit rose 17.6% to Rs 5.80 crore on 85.1% growth in net sales to Rs 69.30 crore in Q4 March 2016 over Q4 March 2015.

Nila Infrastructures is an established player in developing civic urban infrastructure projects on engineering, procurement and construction (EPC), turnkey, public-private partnership (PPP) mode as well as private white lable construction and industrial infrastructure projects.

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