Multibagger penny stock under Rs 10 hit upper circuit as the company reports a turnaround net profit in Q1FY25 & bags order worth Rs 342.27 crore from GIFT Authority
The stock gave multibagger returns of 182 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent.
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.
On Monday, the shares of Nila Spaces Ltd were locked in a 5 per cent upper circuit to Rs 9.05 per share from its previous closing of Rs 8.62. The stock’s 52-week high is Rs 11.15 and its 52-week low is Rs 2.89.
Results: According to Quarterly Results, the company reported net sales of Rs 31.11 crore in Q1FY25 compared to nil sales in Q1FY24. The company reported a net profit of Rs 2.56 crore in Q1FY25 compared to a net loss of Rs 0.25 crore in Q1FY24, an increase of 1,124 per cent. In its annual results, net sales increased by 8,873 per cent to Rs 90.71 crore in FY24 compared to net sales of Rs 1.01 crore in FY23. The company reported a net profit of Rs 13.55 crore in FY24 compared to a net loss of Rs 4.01 crore in FY23, an increase of 438 per cent.
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Order: Nila Spaces Limited (NSL) has secured a second major residential project at GIFT SEZ, following the successful completion of its 522,000-square-foot VIDA project. The new development, valued at Rs 342.27 crore, was acquired for Rs 6,557 per square foot of development rights. Demonstrating its commitment to sustainable urban living, NSL aims to replicate the carbon-neutral, Platinum pre-certified IGBC standards achieved by VIDA in this new project. To execute this venture, NSL has established a subsidiary, Nila Urban Living Private Limited, with an authorized capital of Rs 1,00,000 and a paid-up capital of Rs 1,00,000. NSL holds a 90 per cent stake in the company, comprising 90,000 equity shares of Rs 10 each, acquired at arm's length without requiring regulatory approvals.
The stock gave multibagger returns of 182 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.
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