Nila Spaces Ltd. (NILASPACES) AI Stock Analysis

• Market Cap: ₹5.26B
• Dividend Yield: N/A
• Average Volume (3M): 282.24K
• Price to Earnings (P/E): 19.8
• Beta (1Y): 0.73
• Revenue Growth: 1.35%
• EPS Growth: -1.39%
• Country: IN
• Employees: 14
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 0.20
• Shares Outstanding: 393,889,220
• 10 Day Avg. Volume: 135,925
• 30 Day Avg. Volume: 282,239
• PEG Ratio: 3.60
• Price to Book (P/B): 3.28
• Price to Sales (P/S): 3.44
• P/FCF Ratio: -11.11
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: ₹13.50 ▼(-16.04% Downside)
• Action: Reiterated Date: 11/13/25
• Date: Action: Reiterated 11/13/25

Nila Spaces Ltd. shows potential with strong revenue growth and a stable balance sheet, but faces challenges with cash flow management and bearish technical indicators. The high P/E ratio suggests the stock is overvalued, limiting its appeal. Focus on improving cash flow and market momentum could enhance its prospects.

Positive Factors

Revenue Growth

A near-50% revenue jump in a single year reflects strong project sales momentum and demand execution. Durable revenue expansion at this scale supports economies of scale, underwriting of future projects, and a stronger base to sustain reinvestment and margin recovery over the next 2-6 months.

Balance Sheet Strength

A healthy equity ratio and very low leverage provide structural financial flexibility for a developer. Low debt reduces refinancing and interest stress during project cycles, enabling the company to fund or partner on developments and weather near-term sector volatility without eroding solvency.

Earnings Improvement

Nearly doubling EPS coupled with a double-digit net margin indicates better conversion of revenue into bottom-line profit. Sustained margin improvement points to improved pricing, cost control or project mix that can strengthen retained earnings and capacity to self-fund future projects.

Negative Factors

Weak Free Cash Flow

Negative free cash flow signals that operating cash is not covering investments or working capital demands, common in development firms. This structural cash gap increases reliance on external funding or equity, raising execution risk on upcoming projects and constraining organic growth.

Earnings and Equity Volatility

Historical swings in profitability and equity suggest project-timing, recognition or execution variability. Such volatility undermines predictability of cash flows and returns, complicates lender and partner underwriting, and raises the risk premium for funding future developments.

Lack of Recurring Revenue

Dependence on one-off unit sales without visible recurring rental or management income makes revenue and cash cyclical and tied to project launches. This structural concentration increases sensitivity to real estate cycles and lengthens recovery time after downturns versus diversified developers.

Nila Spaces Ltd. Business Overview & Revenue Model

Company Description

Nila Spaces Limited engages in the real estate development activities. It undertakes residential and commercial real estate projects, as well as involved in the construction and development of buildings for sale and other real estate activities. The company was formerly known as Parmananday Superstructure Limited and changed its name to Nila Spaces Limited in November 2017. Nila Spaces Limited was incorporated in 2000 and is headquartered in Ahmedabad, India.

How the Company Makes Money

Nila Spaces Ltd. generates revenue through several key streams. Primarily, the company makes money by developing and selling residential and commercial properties, capitalizing on market demand for high-quality, sustainable real estate. Additionally, NILASPACES earns income through ongoing property management services, which include maintaining and leasing properties to tenants, thereby ensuring a steady cash flow. The company may also offer consulting services to businesses and individuals seeking expert advice on space optimization and sustainability, further diversifying its revenue sources. Strategic partnerships with other real estate developers, construction firms, and technology providers enhance its operational capabilities and market reach, contributing to its overall profitability.

Nila Spaces Ltd. Financial Statement Overview

Summary

Nila Spaces Ltd. shows a strong recovery with significant revenue growth and improved profit margins. The balance sheet is stable with low leverage, but cash flow issues pose challenges, indicating a need for better cash management.

Income Statement

Nila Spaces Ltd. shows a strong recovery with significant revenue growth of 49.7% from 2024 to 2025. The gross profit margin improved to 36.3%, and the net profit margin reached 10.8% in 2025. However, past years show fluctuations in profitability, which may suggest volatility in operations.

Balance Sheet

The balance sheet shows a healthy equity ratio of 45.7% in 2025, indicating a stable financial structure. The debt-to-equity ratio is low at 0.16, showing minimal leverage. However, the historical fluctuations in equity levels and liabilities suggest potential risk in financial stability.

Cash Flow

The cash flow statement reveals challenges, with a negative free cash flow in 2025 despite a strong operating cash flow to net income ratio of -2.75. The company needs to improve its cash generation capabilities to support ongoing operations and growth.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.46B	1.36B	907.14M	10.11M	53.27M	451.24M
Gross Profit	536.71M	492.89M	215.98M	-8.72M	-12.61M	82.70M
EBITDA	462.43M	331.56M	221.00M	-81.65M	11.05M	52.88M
Net Income	180.31M	147.27M	134.23M	-40.62M	-1.21M	-23.80M
Balance Sheet
Total Assets	0.00	3.11B	2.30B	1.82B	1.24B	1.49B
Cash, Cash Equivalents and Short-Term Investments	94.00M	94.00M	479.39M	146.89M	7.16M	3.45M
Total Debt	0.00	223.46M	10.88M	0.00	0.00	96.03M
Total Liabilities	-1.42B	1.69B	1.02B	673.28M	56.72M	302.52M
Stockholders Equity	1.42B	1.42B	1.28B	1.14B	1.18B	1.18B
Cash Flow
Free Cash Flow	0.00	-420.66M	236.56M	127.00M	-227.79M	238.04M
Operating Cash Flow	0.00	-404.67M	497.64M	131.81M	-218.35M	246.83M
Investing Cash Flow	0.00	309.65M	-439.80M	-22.71M	321.34M	-80.65M
Financing Cash Flow	0.00	51.78M	-36.82M	-44.00K	-99.28M	-173.63M

Nila Spaces Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 16.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NILASPACES, the sentiment is Negative. The current price of 16.08 is above the 20-day moving average (MA) of 14.21, above the 50-day MA of 14.65, and above the 200-day MA of 14.90, indicating a bearish trend. The MACD of -0.34 indicates Positive momentum. The RSI at 37.10 is Neutral, neither overbought nor oversold. The STOCH value of 40.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NILASPACES.

Nila Spaces Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NILAINFRA	66 Neutral	₹3.07B	20.17	―	―	64.41%	22.85%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
MARATHON	62 Neutral	₹29.12B	28.99	―	0.19%	-21.43%	18.96%
MAXESTATES	57 Neutral	₹65.02B	-1,536.76	―	―	79.32%	―
NILASPACES	53 Neutral	₹5.26B	19.80	―	―	1.35%	-1.39%
PARSVNATH	40 Underperform	₹3.17B	-0.76	―	―	-37.98%	40.32%

Nila Spaces Ltd. Corporate Events

Nila Spaces Opens Special Window for Re‑lodgement of Rejected Physical Share Transfers

Nila Spaces Ltd. has published a shareholder notice in newspapers announcing the opening of a special window for re-lodgement of transfer requests for physical shares that were originally lodged before 1 April 2019 but were rejected or returned due to deficiencies in documentation, in line with a recent SEBI circular. Eligible shareholders must submit original transfer documents with corrected or missing details to the company’s registrar and transfer agent, MCS Share Transfer Agent Ltd., by 6 January 2026, with all re-lodged shares to be issued only in dematerialised form, underscoring the ongoing shift away from physical share certificates and requiring affected investors to act within a tight regulatory deadline.