Nila Infrastructures Limited said it got a contract worth Rs 107.3 cr from Jodhpur Development Authority to create 3,152 flats in Barli.
The Company will also get 7.5 acres free of cost that can be sold or developed.
The township, to be completed in four years, comprise 2,128 flats for economically weaker section at 325 sq ft and 1,024 flats for low income group users with 500 sq ft. In total, there would be 1.2 million sq. ft. of built-up area.
The project is part of Chief Minister Jan Awas Yojana 2015.
Commenting on the project award, Mr. Deep Vadodaria, Chief Operating Officer said: “we have been consistently participating in apt tenders and securing meaningful work orders – with this one being our seventh.
“Having gained proprietary knowledgeabout 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 developer/s, depending on the market trends,” he added.
The company said the project will enhance its technical pre-qualification going forward.
“This will graduate us to next league of developers / contractors, where the competition is limited,” it said.
Incorporated in the year 1990, Nila Infrastructures develops Civic Urban Infrastructure Projects on EPC, Turnkey, PPP Mode, as well as Private White Label Construction and Industrial Infrastructure Projects.
The Company has major presence in Gujarat and has expanded footprint into Rajasthan. The major clientele include Ahmedabad Municipal Corporation (AMC), Government of Rajasthan, EPIL (a Mini-Ratna Company of GoI), Adani Group, etc.
The total confirmed unexecuted Order Book at June 30, 2017 was Rs 4,521.2 million towards construction of about 4.1 million sq. ft. super built up area; that includes 7,718 units of affordable housing.