Nila Infrastructures Limited announced that on November 1, 2023 received Letter of Acceptance from Gujarat Housing Board for construction of affordable housing. Significant terms & conditions of the work order: The project awarded to the Company is for the redevelopment work, of Integrated Group Housing Facility at Khokhara - Ahmedabad. The project envisage construction of 456 Low Income Group (LIG) affordable housing units for total development cost of almost INR 530 million.

The project shall be on PPP basis whereby the Company shall receive transferable development rights of aggregate value of INR 530.0 million and realization of additionally constructed 104 (1bhk) & 224 (2bhk) housing units; and 11 commercial shops as consideration. Nature of Work: The work is for construction of affordable housing units on PPP basis. Time period of execution: 28 Months including 4 Months of approval process.