### **Overview** Nila Spaces Limited (NSL) is a technology-driven real estate development company headquartered in Ahmedabad, Gujarat. A demerged entity from *Nila Infrastructures Limited* (effective April 1, 2017), NSL is part of the Ahmedabad-based **Sambhaav Group** with over 35 years of cumulative experience in real estate and infrastructure. The company focuses on **sustainable, innovative, and socially responsible urban development**, moving beyond traditional housing models into next-generation integrated living and working solutions. While the company is in the **early growth phase** following its demerger—leading to limited past profitability—it is now executing a strategic transformation centered on **technology integration, sustainability, and lifestyle innovation**. NSL remains **debt-free**, funding operations through internal accruals and selective partnerships. --- ### **Core Business Focus & Strategic Shift** NSL has evolved from a legacy in **affordable housing** under government schemes like PMAY, to pioneering **tech-integrated, sustainable, and wellness-centric real estate solutions**. Key focus areas include: - **Affordable & Premium Residential Developments** - **Co-living & Shared Living Models** - **Co-working & Flexible Workspaces** - **Wellness-Focused "Power Living" Communities** - **Technology-Driven Real Estate Experiences (PropTech)** The company is strategically aligning with **urbanization trends, millennial preferences, hybrid work culture, and environmental sustainability** to shape the future of urban living in India. --- ### **Strategic Presence in GIFT City – India’s First Smart Financial Hub** NSL has established a **pivotal presence in GIFT City (Gujarat International Finance Tec-City)**, India's first operational **greenfield smart city** and **International Financial Services Centre (IFSC)**. Spanning 886 acres with 62 million sq. ft. of built-up area, GIFT City offers: - SEZ and DTA zones - Platinum-rated sustainable infrastructure - Integrated walk-to-work ecosystems - Connectivity to Ahmedabad Metro, NH-48, airport, and upcoming bullet train station This positioning allows NSL to develop **high-end, future-ready projects** targeting **premium urban professionals, MNCs, and global investors**. --- ### **Flagship Projects & Developments** #### **1. PRANA – India’s First “Power Living” Residential Community** - **Launched:** July 2025 - **Location:** GIFT City SEZ, Gandhinagar - **Status:** Development rights secured for ~522,000 sq. ft. - **Design:** Two 117-meter towers connected by six sky bridges; vertical green façade, green bridges, rooftop terraces - **Target Audience:** Health-conscious urban professionals seeking wellness-integrated, high-performance lifestyles - **Value Proposition:** Addresses rising burnout and mental health concerns through design-driven wellness; positioned as a premium investment in a growing financial hub - **Construction Contract:** Awarded to **Riveria Infrastructures** for ₹129.25 crore (June 2025) - **Land Acquisition Cost:** Record-breaking ₹6,557/sq. ft.—the most expensive land parcel in Gujarat (absolute terms) #### **2. VIDA – Luxury Residential Project with Tech Integration** - **Location:** GIFT City - **Launch Date:** September 2023 - **Design:** Twin high-rise towers (3B+G+33 floors), designed by **Blocher Partners India** - **Features:** - Virtual Reality (VR) project showcasing via Metaverse marketing - Sky park with jogging track, green bridges, vertical gardens - Automated Waste Collection System - Concierge services via global partner *Quintessentially* - **Construction Contract:** ₹121.51 crore awarded to **PSP Projects Limited** (Dec 2022) #### **3. Co-Working & Work Space-as-a-Service (WaaS)** - **5,000 sq. meter co-working complex** developed in GIFT City SEZ in collaboration with **DEVx Accelerator Limited** - **Flexible office solutions** for startups, SMEs, corporates, MNCs - Part of broader **Capital Square** commercial project, co-developed with DevX - Hosts **Deakin University’s first Indian campus**—a major anchor tenant that validates the project’s quality and appeal #### **4. Co-Living & Urban Shared Living Expansion** - Strategic push into **service apartments, compact homes, joint accommodations, and parking solutions** - Aligned with India’s rapidly growing **co-living market**—projected to reach **$40 billion by 2030** (17% CAGR, per JLL) - Driven by urban migration, millennial preferences, and shift from ownership to rental living - Focus on **Tier 2 cities** including Ahmedabad, Indore, Kochi, Jaipur, and Coimbatore --- ### **Technology & Innovation Leadership** NSL is at the forefront of **PropTech integration**, leveraging advanced technologies across all business functions: | **Technology** | **Application** | |---------------|-----------------| | **AI & ML** | Voice bots for customer engagement; generative AI for personalized property recommendations | | **VR & AR** | Immersive virtual tours, 3D modeling, Metaverse-based marketing (e.g., VIDA campaign) | | **Data Analytics** | Market intelligence, demand forecasting, sales optimization | | **Blockchain (Exploratory)** | Under exploration for **fractional ownership** and secure real estate transactions | - **Awards & Recognition:** The Metaverse campaign for *VIDA* received accolades for innovation in real estate marketing. - **AI tools** have significantly improved **enquiry-to-sale conversion rates**. --- ### **Sustainability & ESG Commitment** NSL emphasizes **responsible development** over rapid scale, aiming for **environmentally regenerative** and **socially impactful projects**. - **Smarter Dharma Acquisition (May 2025):** - NSL acquired **Smarter Dharma**, a sustainability tech startup that created **SD+**—India’s first **SaaS-based urban sustainability decision-making platform**. - SD+ enables data-driven ESG planning in real estate; future expansion planned into other sectors. - **Formal ESG Framework Implemented (Aug 2024):** - Dedicated ESG team - Focus areas: Carbon emission reduction, third-party audits, carbon credit generation - Projects feature green building elements: vertical landscaping, energy efficiency, waste automation --- ### **Organizational Structure** - **Parent Entity:** Nila Spaces Limited (NSL) - **Key Subsidiary:** **Nila Urban Living Private Limited** (wholly owned), established to execute premium urban residential projects like PRANA. - **Leadership:** Led by **Mr. Anand B. Patel**, former Additional City Engineer, Ahmedabad Municipal Corporation, with over 35 years of experience in urban planning, slum redevelopment, and public infrastructure. --- ### **VisionX PropTech Accelerator (July 2025)** - NSL, through its collaboration with **Awfficacy Capital**, launched **VisionX**—a **prop-tech accelerator program** aimed at nurturing innovation in real estate technology. - As part of VisionX, NSL acquired a **30% equity stake in VirtSpaces Private Limited**, a startup offering: - **Mobile VR solutions** for immersive property viewing - High-quality virtual exploration tools that enhance buyer engagement and decision-making This marks NSL’s strategic entry into **ecosystem-led innovation**, combining capital, mentorship, and commercial integration with startups. --- ### **Financial & Development Profile** - **Land Bank:** Over **16 acres in and around Ahmedabad**, supporting up to **4 million sq. ft.** of future development - **Portfolio Scale:** - **26,000+ residential units** delivered or under development - **18+ million sq. ft.** of real estate space developed or underway - **Funding Model:** Debt-free operations; funded via internal accruals and joint ventures - **Project Pipeline:** Focused on GIFT City with expansion into co-living, co-working, and wellness-centric housing