Nila Infrastructures Limited (the "Company") has today, entered into an agreement for construction and implementation of project with M/s Vivyan Infraprojects LLP for an amount of Rs 131.67 crore.
It entails construction of 1540 housing units under the slum rehabilitation project April No Tekro, Juna Wadaj, Ahmedabad, said the company in a press release.
Throwing more light on the order and business outlook going forward Deep Vadodaria, COO of Nila Infrastructures said the above order is a pure EPC contract. The order will be executed after two-quarters and revenue recognition will start from the second half of next financial year.
The company does not plan to raise any debt at least in the medium-term to execute these orders. Since it is a slum rehabilitation work, the process of evacuating the slum may take a bit longer.
The orderbook as of December, 2016 stood at Rs 300 crore, said Vadodaria.
He also spoken about their Memorandum of Understanding with the government of Rajasthan.
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