Nila Spaces shares near ₹9.90 as a market-data model lifts its valuation grade

Shares of Nila Spaces Ltd, an Ahmedabad-based residential developer listed on the NSE and BSE, were trading near ₹9.90 on 26 October 2026. That was down 5.53% from the previous close of ₹10.48, a market-data publisher said in a stock commentary that day. The same piece said the stock's valuation grade had moved to 'very attractive'. The company did not comment.

What the valuation grade does and does not show

The grade is an output of the publisher's own model. It is not a finding by the company or a regulator. The commentary dates the change to 13 May 2026, the same day the publisher cut the stock's overall rating from Hold to Sell and lowered its Mojo Score from 58 to 46. The publisher's descriptions of the valuation have shifted across its own pieces. A July 2025 article described it as moving from expensive to very expensive. A September 2026 article called it fair to attractive, and an October 2026 article called it attractive.

On the commentary's figures, the stock traded at a price-to-earnings ratio of 12.62 and a price-to-book value of 2.30. The publisher's sub-grades were average for quality, positive for financials and bearish for technicals. Its Sell grade cites weak technical momentum and underwhelming market performance. The one-year return cited was minus 45.85%.

Price, results and ownership

The publisher also reported a fresh 52-week low of ₹10.03 on 22 October 2026. Data services give different 52-week highs, from ₹19.75 to ₹20.47, so the range should be read with care. One data service put the market capitalisation at about ₹435 crore in mid-October. Promoter holding is reported as 60.12% in one publisher's rating piece and 61.9% as of 18 October in another.

Figures for the quarter ended 30 June 2026 vary by source. Revenue is given as between ₹46.7 crore and ₹49.90 crore, and net profit as between ₹8.5 crore and about ₹8.6 crore. The publisher says net profit rose 44.54% year on year but fell 7.93% from the previous quarter, and revenue fell 6.29% over the same period. Readers should check the company's stock exchange filings for the audited numbers.

GIFT City projects and connectivity

The developer has won a 5,550 sq m plot in Gujarat International Finance Tec-City (GIFT City) for ₹342 crore, outbidding 10 rivals. It plans a ₹750 crore residential project on that land, with a 100-metre tower spanning 5.22 lakh sq ft. The company's existing Nila Vida project in the same area is listed for sale as 1, 2 and 3 BHK homes, with 496 units. Listing portals differ on carpet area, price band and possession. One gives possession as 30 June 2028, which is the date linked to the project's registration.

GIFT City is about 12 km from Sardar Vallabhbhai Patel International Airport. The Ahmedabad Metro Violet Line to GIFT City began operations in January 2026. The Union Cabinet approved a 3.33 km elevated extension from GIFT City to Shahpur on 24 February 2026, with three new stations at an estimated cost of about ₹1,067 crore and completion targeted in about four years. Road access is through SG Highway, SP Ring Road and NH48.

For buyers in GIFT City, the valuation grade does not change the project's registration, possession date or prices. The publisher's rating and the share price are a market view, not a housing signal. Buyers should compare the price band and carpet area with the project's registration documents before deciding. The next step to watch is the contract award for the Shahpur metro extension, for which bids were invited in April 2026 and construction is planned for 2026 to 2028.