Nila Infra Bags Order From JODA Worth INR 1072.8 Million
Nila Infrastructures Limited has received a work order pertaining to construction contract worth INR 1072.8 million from Jodhpur Development Authority (JoDA), Government of Rajasthan (GoR) for construction of Economically Weaker Section (EWS) and Low Income Group (LIG) Houses with G+3 pattern and internal Development as per Model No. 4A (i) of Chief Minister Jan Awas Yojana 2015 at Khasra No. 88, Village Barli, District Jodhpur.
The project envisages overall construction of about 1.2 million sq. ft. built-up area and has to be completed within 48 months. The township / complex / campus will comprise total 3,152 residential units i.e. 2,128 for EWS with ~325 sq. ft. super built-up area and 1,024 for LIG with ~500 sq. ft. super built-up area. The Company will also get the balance vacant land of 7.5 acres towards part remuneration, once the project reaches 50% completion.
Commenting on the project award, Mr. Deep Vadodaria, Chief Operating Officer said: “We are glad to receive our single largest work order from JoDA in Affordable Housing segment. As per our commitment vide our Memorandum of Understanding with GoR under “Resurgent Rajasthan Partnership Summit - 2015”, we have been consistently participating in apt tenders and securing meaningful work orders - with this one being our seventh. All our projects at Rajasthan are under swift execution due to conducive operating eco-system at Rajasthan.
Having gained proprietary knowledge about project execution at Jodhpur from our current ongoing Affordable Housing project at Village Aanganwa, Jodhpur; we are quite confident to execute this second Affordable Housing Project at Jodhpur very efficiently. We also stand to gain from a sizeable premium land parcel with higher FSI in the developing locality of Barli. Such land parcel offers financial and operational flexibility to either use it for captive consumption or monetize it by selling it to other developers, depending on the market trends.
This work order not only boosts our order book and revenue visibility, but successful execution will also enhance our technical pre-qualification going forward. This will graduate us to next league of developers / contractors, where the competition is limited.
This reinforces the Company’s Vision to Contribute to the economic prosperity and growth through participation in projects of national importance.”
- Issued By:JODHPUR DEVELOPMENT AUTHORITY
- Bagged By:
- Region:Northern India
- Value:INR 1072.8 Million
- Published On:2017-10-13