Nila Spaces

What Nila Spaces does

Nila Spaces Limited is a publicly listed Indian real estate development company (BSE: 542231, NSE listed; CIN L45100GJ2000PLC083204), incorporated in 2000 as Parmananday Superstructure Limited and headquartered in Ahmedabad, Gujarat. Operating under the Nila-Sambhaav Group umbrella, the company focuses on sustainable, premium residential and commercial developments concentrated in GIFT City, Gandhinagar. Its portfolio comprises three core products: Prana (wellness-focused residential in GIFT City SEZ with vertical greenery and rooftop amenities), Nila Vida (IGBC Platinum precertified luxury residential in GIFT City DTA at 118 meters), and Capital Square (a 60,000 sq. ft. carbon-neutral co-working facility offering 800+ seats). Revenue is generated through one-time residential property sales of apartments and studios, recurring co-working space subscriptions at Capital Square, and NRI-focused property management services. Pricing is quote-based ("Price on Request") consistent with luxury real estate conventions.

The company differentiates on sustainability credentials — including IGBC Platinum precertification, carbon neutrality certification audited by TÜV India, and ISO 9001/14001/45001/14064 certifications — and ESG framework alignment with GRI, SASB, TCFD, and UN PRI standards. Underlying technology includes BIM-enabled construction management, ERP-based paperless documentation, and integration with GIFT City's district cooling system. Operations are supported by strategic partnerships with international architecture firm Blocher Partners (Germany), JLL (project management consultancy), Deloitte (GHG emissions strategy), and TÜV India (carbon audits), alongside construction partners PSP Projects and Chokhani Projects.

The go-to-market is direct-to-consumer via corporate website, inquiry forms, virtual tours, and on-site viewings, augmented by event participation and award-driven PR. Channel partners Prop Tiger and Kunvarji Realty support buyer reach, while a dedicated NRI Corner service targets global Non-Resident Indian investors with repatriation and tax advantages specific to GIFT City's IFSC. The company is actively hiring across 17 functions, indicating pipeline expansion. Group-level scale includes 18 million+ sq. ft. of portfolio footprint, 75+ completed projects, and 26,000+ families served across decades of operations.

Name

Nila Spaces

Legal name

Nila Spaces Limited

Website

https://nilaspaces.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Nila Spaces Limited is a publicly listed Indian real estate developer specializing in sustainable, premium residential and co-working developments within GIFT City, Gandhinagar. It serves individual homebuyers, NRI investors, and corporate tenants via IGBC-certified, carbon-neutral projects.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Rental and Leasing Services (532)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Condo & Apartment Rentals (Urban/Resort) (THAGANAB)

Keywords

• Sustainable real estate development
• Residential property sales
• Co-working space leasing
• Green building construction
• GIFT City housing

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Residential Property Sales: Sale of residential units including studios, 1 BHK, 2 BHK, and 3 BHK apartments at VIDA and PRANA projects in GIFT City
2. Co-working Space Leasing: Rental of commercial office space at Capital Square offering 800+ seats for professionals and businesses in GIFT City SEZ
3. NRI Property Services: End-to-end property management services for NRI investors including maintenance and rental management

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Nila Spaces develops and sells premium, sustainability-certified residential and commercial real estate projects in GIFT City, Gandhinagar. Its portfolio includes Prana (wellness-focused residential apartments in GIFT City SEZ), Nila Vida (luxury IGBC Platinum-certified residential in GIFT City DTA), and Capital Square (60,000 sq. ft. carbon-neutral co-working space with 800+ seats). The company sells directly to individual homebuyers, NRI investors, and corporate tenants through its own sales channels, emphasizing green building design and ESG-aligned development.

Product overview

Nila Spaces is a publicly listed real estate development company (part of Nila-Sambhaav Group) specializing in sustainable residential and commercial projects in GIFT City, Gandhinagar. The portfolio consists of three main offerings: Prana (wellness-focused residential in SEZ), Nila Vida (luxury IGBC Platinum-certified residential in DTA), and Capital Square (co-working space). The company focuses on sustainable living environments, carbon neutrality, and community well-being through green building initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• Prana: Premier luxury residential project at GIFT City SEZ focused on wellness with 1,2 BHK & Studio units
• Nila Vida
• Capital Square

Products and services

• Prana A distinctive residential development in GIFT City SEZ Dual Use Non-Processing Area offering 1 and 2 BHK apartments and studios, focused on wellness, sustainability, and premium amenities including 10,000 sq. ft. vertical green façade, 18,000 sq. ft. rooftop terrace, and community spaces. Targeted at urban professionals, families, and NRI investors.
• Nila Vida A luxurious residential development in GIFT City DTA Area featuring 1, 2, and 3 BHK apartments and studios, standing at 118 meters with IGBC Platinum Grade Certification and carbon neutrality, offering sky terrace, jogging track, and connecting bridges for community engagement. Targeted at premium homebuyers and NRI investors.
• Capital Square A collaborative co-working workspace in GIFT City SEZ area offering 60,000 sq. ft. of dynamic workspace with over 800 seats, certified carbon-neutral by TÜV India. Designed for professionals, freelancers, startups, and corporate teams requiring flexible office arrangements with modern facilities and vibrant social areas.
• NRI Property Management Services End-to-end property management services for NRI investors purchasing property in GIFT City, including investment guidance, legal requirement information, ongoing maintenance, and rental management for remote investors.

Quantifiable outcome

• Energy consumption reduction of 30% through GIFT City's District Cooling System
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Prop TigercoreChannel Partner/ Reseller/ DistributorA leading real estate advisory firm that offers expert guidance for property investments and transactions. Works with Nila Spaces to bring the company's vision to life through their extensive network.
• Kunvarji RealtycoreChannel Partner/ Reseller/ DistributorRenowned for its extensive network and expertise within the real estate market, ensuring seamless property solutions for Nila Spaces projects.
• Blocher PartnerscoreStrategic or Co-development PartnerA premier German architecture firm delivering innovative design and architectural excellence. Brings international design standards to Nila Spaces projects including PRANA.
• Ducon ConsultantcoreTechnology or IntegrationA leading structural consultant dedicated to maintaining integrity and quality throughout the construction process for Nila Spaces developments.
• Ashir EngineeringcoreTechnology or IntegrationExperts in MEPF (Mechanical, Electrical, Plumbing, and Fire) and BIM, employing advanced technology to optimize building systems for Nila Spaces projects.
• UpkramacoreStrategic or Co-development PartnerRenowned for innovative architectural design and excellence. Collaborates with Nila Spaces on creative vision for residential projects.
• PSP ProjectscoreImplementation/ SI/ Consulting PartnerLeading contractor with expertise in various sectors. Ensures high-quality project delivery for VIDA and other Nila Spaces developments.
• Chokhani ProjectscoreImplementation/ SI/ Consulting PartnerSpecialists in high-quality construction for pharma and industrial projects, ensuring timely delivery for Nila Spaces.
• JLL (Jones Lang LaSalle)coreImplementation/ SI/ Consulting PartnerProvides Project Management Consultancy (PMC) services for Nila Spaces developments, ensuring quality oversight and project coordination.
• Quint EssentialminorStrategic or Co-development PartnerInternational concierge service provider supporting Nila Spaces' luxury lifestyle offerings for residents.
• MastersminorOthersService provider supporting Nila Spaces' operational capabilities.
• DeloittecoreTechnology or IntegrationConducts comprehensive GHG emissions calculation reports and provides strategic recommendations for carbon offsetting initiatives for Nila Spaces' sustainability efforts.
• TÜV IndiacoreTechnology or IntegrationConducts external audits and carbon neutrality certifications for Nila Spaces projects under ISAE 3410, ISO 14067, ISO 50001, ISO 14064-1, PAS 2050 and PAS 2060 standards.
• Sambhav TrustcoreStrategic or Co-development PartnerCollaborates with Nila Spaces on social upliftment initiatives including monthly food kit distribution to salt workers and vulnerable communities (3,450 kits distributed since April 2022).
• VeeraminorOthersCarbon credit provider from which Nila Spaces purchases carbon credits to support global carbon offset projects.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Prestige Group: Large listed Indian developer with diversified residential, commercial, and hospitality portfolio. Comparable in product mix (premium residential + commercial/coworking) and listed-developer profile.
• Brigade Enterprises: South-India focused listed developer with residential and commercial (including coworking) assets. Comparable in listed-developer structure and mixed residential-commercial model.
• Godrej Properties: One of India's largest listed residential developers with a strong sustainability and ESG narrative. Comparable to Nila Spaces in green-building positioning, premium urban residential focus, and pan-India listed-developer profile.
• WeWork India: Largest flex-office/coworking operator in India. Directly comparable to Nila's Capital Square co-working vertical in product category, customer base (professionals/startups), and recurring subscription model.
• Oberoi Realty: Premium Mumbai-based listed developer focused on luxury residential and commercial real estate. Comparable to Nila's premium positioning, IGBC-style certifications, and project-level quality differentiation.
• Mahindra Lifespace Developers: Sustainability-led Indian residential developer with IGBC-aligned projects. Closest comparable to Nila on the ESG/green-certified premium housing axis, though operating at meaningfully larger scale.
• Sobha Limited: Listed Indian developer known for premium residential projects with backward-integrated construction quality. Comparable to Nila on premium urban-residential positioning and quality-led brand.

Regional players

• Adani Realty: Pan-India developer with significant Gujarat/Ahmedabad presence. Comparable as a regional player operating in the same Gujarat market where Nila is headquartered, though with a much broader portfolio.

Broad incumbents

• Macrotech Developers (Lodha): India's largest listed residential developer by market cap. Comparable as a broad incumbent in premium Indian residential, though with a national rather than micro-market focus.
• DLF Limited: India's largest listed real-estate developer with a sprawling residential, commercial, and retail portfolio. Comparable as a broad incumbent in Indian listed real estate but operates at vastly greater scale than Nila.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nilaspaces.gift
• LinkedInlinkedin.com/company/nila-spaces-limited

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nila Spaces