The project involves the redevelopment of Kajimiya ni Chali, a slum cluster in Ahmedabad, through the construction of 728 residential units and 25 commercial shops. This project is being undertaken under the Slum Rehabilitation and Redevelopment Policy, 2013, as part of the Pradhan Mantri Awas Yojana (PMAY) on a Public-Private Partnership (PPP) basis.
The total development cost of the project stands at Rs 105.02 crore. In return, the company will receive Transferable Development Rights (TDRs) worth Rs 56.51 crore, along with free-sale land measuring 4,209.67 square metres, valued at Rs 48.51 crore.
According to the company, the project is expected to be completed within a period of 30 months from the date of commencement.
Nila Infrastructures also clarified that neither its promoters nor any member of the promoter group has any interest in the awarding authority, and the transaction does not fall under the category of related party transactions as per regulatory requirements.
Nila Infrastructures is involved in the construction as well as the development of infrastructure projects.
The company's consolidated net profit surged 34.5% to Rs 6.71 crore on a 124.2% jump in revenue to Rs 92.60 crore in Q1 FY26 over Q1 FY25.