Shares of Nila Infrastructure were locked on a 20% upper circuit during the trading session on 6 September after the company received an order to construct residential units from Shree Infracon Pvt Ltd.

The company received an order to construct 1,694 residential flats at Ramapir No Tekro, Wadaj, Ahmedabad.

The order’s total development cost is Rs 101.64 crore.

The order includes R.C.C. Work, Mansory Work, and Frame Fitting with Plastic Work – Material + Labour.

The order is said to be executed within the next 18 months, whereas the defect liability period of the order is set at 10 years for structure liability and building effect.

In August, the company received an L.O.A. (letter of acceptance) from the Gujarat Housing Board for the construction of affordable housing, wherein the company will construct 48 Middle Income Group affordable housing units for a total cost of Rs 17.94 crore.

At 11:10 am, the shares of Nila Infrastructure were locked at Rs 6.70 or 19.64% above its previous close on NSE.