Nila Spaces Ltd. – Company Report
1. Company Overview
Nila Spaces Ltd., incorporated in 2000 and headquartered in Ahmedabad, Gujarat, is a progressive real estate development company operating independently following its demerger from Nila Infrastructures Ltd. in 2017. Promoted by the Sambhaav Group, Nila Spaces is known for its integration of innovative technologies and sustainable practices into modern real estate developments.
The company has completed over 10 million sq.ft. of built-up space and holds a land bank of more than 18 acres, mostly in and around Ahmedabad, with potential development capacity of approximately 4.7 million sq.ft. Nila Spaces specializes in affordable housing aligned with government schemes such as “Housing for All” and PMAY, while also expanding into premium and luxury housing. In FY2025, the company had an employee strength of approximately 17 and maintained a focused presence in Gujarat, including GIFT City, Gandhinagar.
- Incorporated: 2000
- Headquarters: Ahmedabad, Gujarat, India
- Employees: ~17
- Market Cap (July 2025): ₹535–540 crore
- Key Executive: Sambhaav Group promoted
- Listed: BSE, NSE
2. Products and Services
Nila Spaces Ltd. operates across a variety of real estate verticals with a focus on design innovation and sustainable living:
Residential Projects:
- Apartments in affordable, premium, luxury, and signature segments
- Aligned with government housing schemes offering subsidies and loan benefits
Commercial Projects:
- Office spaces, co-working hubs, and retail developments within mixed-use layouts
Integrated Smart City Projects:
- Notable presence in GIFT City, including the VIDA luxury tower and commercial complexes
Turnkey Real Estate Services:
- End-to-end project execution: land acquisition, design, finance, construction, and marketing
Redevelopment & Joint Ventures:
- Collaborations with subsidiaries, associates, and joint venture partners
Sustainable Living Initiatives:
- Focus on green buildings, wellness features, smart technologies, and lifestyle amenities
3. Recent News and Project Highlights
June 2024: Secured a landmark residential project at GIFT SEZ, the second major project in GIFT City after VIDA
- Development area: 5.22 lakh sq.ft.
- Land cost: ₹6,557 per sq.ft. (highest in Gujarat)
- Project value: ₹342.27 crore
- Estimated investment: ₹750 crore
- Will feature a 100-meter-tall residential tower
June 11, 2025: Awarded core and shell construction contract to Riveria Infrastructure for ₹129.25 crore
- Timeline: 27 months from commencement
September 22, 2025 : Nila Spaces Ltd will invest around Rs 900 crore to develop a housing project at Gift City near Ahmedabad in Gujarat as part of its expansion plan. The company has launched a 1.37-acre housing project 'Prana' comprising 696 apartments and around 20,000 sq ft of commercial spaces.
Project 'PRANA' at GIFT City:
- Developed via subsidiary Nila Urban Living Pvt Ltd (90% stake)
- Approved by Gujarat RERA
- Focus: Wellness-centric living with smart-home tech, yoga decks, co-working lounges
- Unit types: Studio, 1 BHK, 2 BHK
4. Financial Performance (FY2025)
| Metric | FY2025 |
|---|---|
| Total Income | ₹136 crore |
| Net Profit | ₹14.68 crore |
| Profit Before Tax (PBT) | ₹20.5 crore |
| Earnings Per Share (EPS) | ₹0.37 |
| Return on Equity (ROE) | 10.3% |
| Dividend | Not declared |
| Debt | No distress; borrowing cost remains a challenge |