Multibagger penny stock under Rs 10: This civil construction company bags new order worth Rs 342.27 crore at Gift City – Gandhinagar

The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent.

Nila Spaces Limited (NSL), a leading real estate developer known for its commitment to innovation and sustainability, has secured a major residential building development project at GIFT SEZ. This project represents NSL's second significant venture in GIFT City, following the successful completion of the VIDA project. The new development will encompass a minimum of 5,22,000 square feet of built-up space on a building footprint of 26-C within the dual-use non-processing area. NSL secured the project with a winning bid of Rs 6,557 per square foot of development rights, bringing the total value to Rs 342.27 crore (the company’s market cap is Rs 337.56 crore).

This project signifies NSL's dedication to shaping the future of urban living spaces. Strategically located within GIFT SEZ, the project will provide residents with modern amenities while adhering to sustainable practices. NSL's focus on environmental responsibility is evident in their previous project, VIDA, which achieved carbon neutrality and secured a Platinum pre-certification from the Indian Green Building Council (IGBC). This new development is expected to uphold the same high standards, establishing NSL as a sustainable real estate development leader and contributing to GIFT City's vision for sustainable growth.

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Nila Spaces Ltd, established in 2000, is a real estate development company based in Ahmedabad, India, and is part of the Sambhaav Group, which focuses on construction and development. Formed through a demerger from Nila Infrastructures Ltd, Nila Spaces Ltd undertakes various projects for government and semi-government entities, including turnkey civic urban infrastructure developments. They are also developing prime real estate with large land reserves in and around Ahmedabad, and accomplish their diverse businesses through subsidiaries, associates, and joint ventures.

Today, the shares of Nila Spaces Ltd were locked in a 5 per cent upper circuit to Rs 8.57 per share from its previous closing of Rs 8.17. The stock’s 52-week high is Rs 11.15 and its 52-week low is Rs 2.89. The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.