Nila Spaces Limited is an India-based real estate company primarily engaged in the development of residential and commercial projects. The company operates through the segment of Construction and Development of Buildings for sale and other Real Estate activities. It is part of the Ahmedabad-based Sambhaav Group, which has a significant presence in the construction and development business.
The company was formerly known as Parmananday Superstructure Limited and officially changed its name to Nila Spaces Limited in November 2017. Incorporated in 2000 and headquartered in Ahmedabad, India, Nila Spaces has a notable track record, having completed over 10 million square feet of real estate projects and possessing a land bank exceeding 18 acres.
Nila Spaces Limited's core business involves the development of real estate, encompassing both residential and commercial projects. The company strategically focuses its operations within the states of Gujarat and Rajasthan.
A key strategic initiative is the company's focus on developing affordable housing schemes, leveraging the government's "Prime Minister Housing for All" mission. Concurrently, it offers residential apartments across premium luxury and signature categories. For project funding, the company has established financial arrangements with GRUH Finance Limited. Nila Spaces positions itself as a progressive real estate company committed to transforming the industry paradigm through the adoption of innovative technologies, benchmark quality standards, robust engineering practices, and uncompromising business ethics.
As per recent data, Nila Spaces has a market capitalization of approximately ₹616 Crore, with reported revenue of ₹136 Crore and a profit of ₹14.7 Crore. For the full financial year ended March 2025, the net profit saw a rise of 9.76% to Rs 14.73 crore, compared to Rs 13.42 crore in the previous year ended March 2024. Sales for the year ended March 2025 increased by 49.71% to Rs 135.80 crore, up from Rs 90.71 crore in the prior financial year.
Key Financial Highlights for FY25:
- TTM Revenue: ₹135.8 Cr
- TTM Profit After Tax: ₹15 Cr
- Promoter Holding: 61.9%
- Annual Revenue Growth: 42%
- Pre-Tax Margin: 15%
- Return on Equity (ROE): 10%
- Debt-to-Equity Ratio: 9% (considered reasonable)
For the third quarter of FY2024-2025, the net profit experienced a decrease of -67.76% compared to the same period last year, amounting to ₹3.75 Cr. However, on a sequential quarterly basis, the company demonstrated a 1.35% increase in net profits over the preceding three months.
Nila Spaces Ltd holds a market capitalization of ₹594 Cr as of July 11, 2025, classifying it as a Small Cap company. Its Price-to-Book (P/B) ratio stands at 4.18 times as of the same date, indicating a slight premium of 7% over its peers' median range of 3.89 times. The Price-to-Earnings (P/E) ratio is 40.36 times as of July 11, 2025, representing a 15% discount to its peers' median range of 47.42 times.
The company's stock has reached a 52-week high of ₹19.40. Over the last three years, the stock has delivered a return of 68.25%. Nila Spaces has achieved a commendable compound annual growth rate (CAGR) of 60.6% in profits over the last five years.
The key management personnel for Nila Spaces Ltd include Jasvinder Singh Rana as Chairman and Gopi Vijaybhai Dave as the Company Secretary. The company's auditor is Dhirubhai Shah & Co LLP. Nila Spaces has scheduled its 25th Annual General Meeting for August 04, 2025.
Significant investments are anticipated in Gujarat, partly driven by the USD 9,000 crore Delhi-Mumbai Industrial Corridor (DMIC) project. The Real Estate Undertaking of Nila Infrastructures Limited was demerged into Nila Spaces Limited, effective from April 1, 2017. Gujarat benefits from substantial infrastructure, including a total installed power generation capacity of 31,579 MW, contributing 65-70% to India's denim production, featuring 42 ports, 18 domestic airports (and 1 international airport), 106 product clusters, and 60 notified Special Economic Zones (SEZs).
The company is strategically positioned to capitalize on the escalating demand for real estate in Gujarat and Rajasthan, with a particular focus on the affordable housing segment, which is further supported by various government initiatives. With its robust land bank, established operational track record, and commitment to innovative construction technologies, Nila Spaces continues to strengthen its presence within the competitive real estate development sector.
