Nita lnfrastructures has received a letter of intent (LoI) from Ahmedabad Municipal Corporation (AMC) for slum rehabilitation work at "Kajimiya ni Chali" in Ahmedabad.

The project, part of AMC’s implementation of the Slum Rehabilitation and Redevelopment Policy 2013 under the Pradhan Mantri Awas Yojana (PMAY) on a public-private partnership (PPP) basis, involves construction of 728 residential units and 25 commercial shops. The total development cost is Rs 105.02 crore.

In return, the Company will receive  transferable development rights (TDRs) worth Rs 56.51 crore and a balance of free-sale land measuring 4,209.67 sq. mtrs., valued at Rs 48.51 crore. The project will be executed over a period of 30 months. This contract was secured in the ordinary course of business and aligns with the Company's regular operations in urban infrastructure and development.