NILASPACES
Nila Spaces financials
- Market cap
- ₹484 Cr
- Sector
- Realty
What Nila Spaces does
Nila Spaces Limited is the real estate arm of the Ahmedabad-headquartered Nila/Sambhaav Group, formed via demerger of Nila Infrastructures Ltd's real-estate undertaking. Its core focus is developing Affordable Housing schemes where buyers avail PMJAY (Housing for All) benefits, alongside Premium, Luxury and Signature category residential apartments. The company builds up its own land bank and develops projects on land parcels where it holds right-of-first-refusal, while outsourcing actual construction and retaining project supervision.
Segments
- Affordable Housing
- Premium/Luxury/Signature Residential
- Wellness-focused residential (PRANA)
- Mixed-use lifestyle residential (VIDA)
- Projects in portfolio (Nila Group legacy)
- 75+
- Residential units in portfolio
- 26,000+
- Total area constructed
- 18M+ sq. ft.
- Affordable housing units delivered / under construction
- 4,911 delivered; 7,290 under construction
- Land bank
- 18+ acres (in and around Ahmedabad)
- Near-term developable potential
- 47 lakh sq. ft.
Quarterly results
Q1 FY27: revenue up 14.3%, net profit up 47.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 32 | 33 | 40 | 41 | 42 +32% | 52 +58% | 50 +25% | 47 +14% |
| EBITDA | 8 | 9 | 10 | 12 | 10 +29% | 18 +98% | 17 +72% | 18 +49% |
| Net profit | 4 | 4 | 5 | 6 | 5 +45% | 8 +118% | 9 +100% | 9 +47% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −26.7% 1Y
1Y: ₹16.75 on 10 Sept 2025 → ₹12.28. High ₹19.23 (21 Oct 2025), low ₹11.56 (30 Mar 2026).
Financials, as filed
Revenue grew 467.9% a year over 3 years, FY23 to FY26. Operating margin widened to 31.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1 Cr | ₹91 Cr | ₹136 Cr | ₹185 Cr |
| Operating profit | ₹-8 Cr | ₹11 Cr | ₹33 Cr | ₹57 Cr |
| Operating margin | -784.2% | 12.0% | 24.4% | 31.0% |
| Interest | ₹0 Cr | ₹5 Cr | ₹16 Cr | ₹25 Cr |
| Depreciation | ₹0 Cr | ₹1 Cr | ₹5 Cr | ₹5 Cr |
| Net profit | ₹-4 Cr | ₹13 Cr | ₹15 Cr | ₹29 Cr |
| Net margin | -403.0% | 14.8% | 10.8% | 15.5% |
| Cash from operations | ₹13 Cr | ₹50 Cr | ₹-40 Cr | ₹-29 Cr |
| Free cash flow | ₹13 Cr | ₹24 Cr | ₹-39 Cr | ₹-33 Cr |
| ROCE | -5.0% | 17.0% | 24.0% | 31.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹39 Cr |
| Reserves | ₹79 Cr | ₹79 Cr | ₹75 Cr | ₹88 Cr | ₹114 Cr | ₹131 Cr |
| Borrowings | ₹10 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹96 Cr | ₹79 Cr |
| Other liabilities | ₹21 Cr | ₹6 Cr | ₹67 Cr | ₹101 Cr | ₹142 Cr | ₹115 Cr |
| Total liabilities | ₹149 Cr | ₹124 Cr | ₹182 Cr | ₹230 Cr | ₹392 Cr | ₹364 Cr |
| Fixed assets | ₹8 Cr | ₹7 Cr | ₹7 Cr | ₹32 Cr | ₹28 Cr | ₹27 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹22 Cr | ₹7 Cr | ₹10 Cr | ₹1 Cr | ₹28 Cr | ₹9 Cr |
| Other assets | ₹118 Cr | ₹110 Cr | ₹165 Cr | ₹197 Cr | ₹336 Cr | ₹329 Cr |
| Total assets | ₹149 Cr | ₹124 Cr | ₹182 Cr | ₹230 Cr | ₹392 Cr | ₹364 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 5% to 83,496.
- Promoters
- 61.9%
- Public
- 38.1%
Since Jun 2025
- FIIs −0.04 pp
- Public +0.03 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window FIIs fell from 2.5% to 0.0% — −2.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 61.9%, FIIs 2.5%, Public 35.6%.Dec '23: Promoters 61.9%, FIIs 2.5%, Public 35.6%.Mar '24: Promoters 61.9%, FIIs 0.9%, Public 37.2%.Jun '24: Promoters 61.9%, FIIs 0.9%, Public 37.2%.Sep '24: Promoters 61.9%, FIIs 0.8%, Public 37.3%.Dec '24: Promoters 61.9%, Public 38.1%.Mar '25: Promoters 61.9%, Public 38.1%.Jun '25: Promoters 61.9%, FIIs 0.0%, Public 38.0%.Sep '25: Promoters 61.9%, FIIs 0.3%, Public 37.8%.Dec '25: Promoters 61.9%, FIIs 0.0%, Public 38.1%.Mar '26: Promoters 61.9%, FIIs 0.1%, Public 38.0%.Jun '26: Promoters 61.9%, Public 38.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Nila Spaces above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Manoj B Vadodaria | 11.76% | unchanged |
| Nila M Vadodaria | 11.16% | unchanged |
| Alpa K Vadodaria | 9.34% | unchanged |
| Kiran B Vadodaria | 8.06% | unchanged |
| Deep S Vadodaria | 8.06% | unchanged |
| Mina S Vadodaria | 5.50% | unchanged |
| Chhayaben R Vadodaria | 4.54% | unchanged |
| Neha M Vadodaria | 1.74% | unchanged |
| Kajal K Vadodaria | 1.74% | unchanged |
| Shobha Imtiyaz Desai | 1.07% | unchanged |
| Nivedita Ritesh Oswal | 1.05% | unchanged |
| Siddarth R Vadodaria | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Nila Spaces
Guides on how to read this kind of business and the numbers that matter.