Nila Infrastructures gets stronger after bagging order

Nila Infrastructure gained 3.51% to Rs 19.15 at 14:25 IST on BSE after the company announced that it has received a contract to construct affordable housing worth Rs 107.28 crore.

The announcement was made during market hours today, 13 October 2017.

Meanwhile, the S&P BSE Sensex was up 289.30 points, or 0.9% to 32,471.52. The S&P BSE Small-Cap index was up 62.86 points, or 0.37% to 16,966.51, underperforming the Sensex.

High volume was witnessed on the counter. On the BSE, 21.22 lakh shares were traded in the counter so far, compared with average daily volumes of 8.19 lakh shares in the past one quarter. The stock had hit a high of Rs 19.45 and a low of Rs 18.50 so far during the day. The stock had hit a record high of Rs 21.05 on 24 July 2017. The stock had hit a 52-week low of Rs 11.87 on 23 November 2016.

The stock had outperformed the market over the past one month till 12 October 2017, gaining 0.54% compared with the Sensex's 0.07% rise. The stock had also outperformed the market over the past one quarter, rising 2.78% as against the Sensex's 1.19% rise. The scrip had also outperformed the market over the past one year, gaining 15.7% as against the Sensex's 14.6% rise.

The small-cap company has equity capital of Rs 39.39 crore. Face value per share is Re 1.

Nila Infrastructures announced that it has received a contract worth Rs 107.28 crore from Jodhpur Development Authority, Government of Rajasthan for construction of affordable housing at village Barli, Rajasthan.

The order is for construction of economically weaker section (EWS) and low income group (LIG) houses with G+3 pattern and internal Development as per Model No. 4A (i) of Chief Minister Jan Awas Yojana 2015.

The project envisages overall construction of about 1.2 million square feet built-up area and has to be completed within 48 months. The township/complex/ campus will comprise total 3,152 residential units i.e. 2,128 for EWS with around 325 square feet super built-up area and 1,024 for LIG with around 500 square feet super built-up area. The company will also get the balance vacant land of 7.5 acre towards part-remuneration, once the project reaches 50% completion.

Nila Infrastructures' net profit rose 63.8% to Rs 6.6 crore on 45.2% rise in net sales to Rs 68.48 crore in Q1 June 2017 over Q1 June 2016.

Nila Infrastructures is a well-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 label construction and industrial infrastructure projects.

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