PSP Project receives LoI from Nila Spaces

PSP Project announced that it has received letter of intent (LoI) from Nila Spaces for civil construction of a prestigious residential project "VIDA" at GIFT City Gandhinagar, Gujarat.

The project involves civil construction of core & shell of 3B+G+33 floors of high-rise residential towers amounting to Rs 121.51 crore.

"With the receipt of the above orders, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,833.09 crore," the company said.

Nila Spaces is fast progressing real estate player based at Ahmedabad. VIDA latest project of Nila Spaces is located at GIFT City is India's first operational smart city. It showcases the future of urban living which will be the crown jewel of residential segment of GIFT by presenting unmatched facilities, super quality, and focusing on unparalleled architectural design by internationally renowned firm. State of the art SKY Park, 65,000 sq ft plus dedicated area of amenities, twin tower connecting sky bridges makes the project unmatched amongst others at GIFT City.

PSP Projects is a multidisciplinary construction company offering a diverse range of construction and allied services in India. It provides construction services across the construction value chain ranging from planning and design to construction and post construction activities.

Shares of Nila Spaces rallied 3.16% to Rs 3.92 while PSP Project jumped 2.24% to Rs 680.70 on the BSE.

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