Nila Infrastructures rises 4% on order win from Adani group

IRB Infrastructure Developers  | In 2020 so far, the share price has moved up 76 percent to Rs 131.20. It's trailing twelve months (TTM) P/E was 6.40 multiple while 5-year average P/E was 8.30 multiple.

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Shares of Nila Infrastructures advanced 4.2 percent intraday Tuesday on the back of order win from Adani group.

The company has received a work order pertaining to EPC contract worth Rs 51.11 crore from Adani group’s Shantigram Estate Management for construction of Inspire Business Park Project (Basement and Towers CH1 to CH9) at Shantigram, Ahmedabad.

The project envisages overall construction covering about 400,000 square feet built-up area and has to be completed by October 15, 2018.

Deep Vadodaria, Chief Operating Officer said, "The repeat order from Adani group for a commercial project signifies their confidence in our execution capability of the commercial projects as well as our track record of delivering Private White Label projects within the agreed timeframe and costs."

"We have been continuously updating our skill-sets and, apart from being a specialist in affordable housing, now we are also preferred for construction/development of commercial space by reputed corporates," he added.

At 13:16 hrs Nila Infrastructures was quoting at Rs 19.40, up Rs 0.55, or 2.92 percent on the BSE.

Posted by Rakesh Patil