Nila Spaces Ltd. (NILASPACES) AI Stock Analysis

• Market Cap: ₹4.70B
• Dividend Yield: N/A
• Average Volume (3M): 282.24K
• Price to Earnings (P/E): 19.8
• Beta (1Y): 0.72
• 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: ₹12.00 ▼(-25.37% 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

Nearly 50% year-over-year revenue growth indicates durable project execution and stronger sales traction across development cycles. Sustained top-line expansion improves ability to scale operations, supports margin recovery and backlog conversion, and underpins longer-term cash generation if project execution and presales continue.

Improved Profit Margins

Material improvement in gross and net margins signals better cost control and pricing power in recent projects. Higher structural margins enhance earnings resilience across cycles, provide buffer for downturns, and permit reinvestment in project development or deleveraging if sustained through disciplined project selection.

Low Leverage / Stable Capital Structure

A low debt-to-equity ratio and healthy equity share create financial flexibility for new projects and reduce interest burdens. This capital structure supports access to funding on reasonable terms, lowers refinancing risk in real estate cycles, and gives management room to pursue growth or weather slower sales periods.

Negative Factors

Negative Free Cash Flow

Negative free cash flow reflects cash consumed by investment or working capital despite reported operating cash strength, indicating timing gaps between revenue recognition and cash receipts. This constrains organic funding for new projects, may force external financing, and raises long-term sustainability questions if recurring.

Volatile Profitability / Equity Levels

Past swings in profitability and equity point to variability driven by project timing, cost overruns or sales phasing. Such volatility reduces predictability of earnings and balance sheet strength, complicates long-term planning, and can force reactive financing or asset adjustments during weaker cycles.

Concentrated, Transactional Revenue Model

Dependence on one-time project sales rather than recurring rental or management income makes revenues cyclical and tied to the project pipeline. This structural concentration magnifies sensitivity to housing demand, presale success and construction timelines, reducing revenue stability over multi-quarter horizons.

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. primarily makes money through revenues associated with real-estate development projects. This typically includes (a) sale/transfer of developed units (such as apartments, plots, or commercial units) to customers, where revenue is recognized as projects progress and/or upon delivery depending on applicable accounting and contract terms, and (b) consideration received under development arrangements (e.g., if the company undertakes development work for a landowner/partner in exchange for a share of project proceeds, fees, or allocated inventory). Any recurring revenue streams such as leasing/rental income, property management fees, brokerage/marketing services, or significant named partnerships are null due to unavailable specific information.

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	1.56B	1.36B	907.14M	10.11M	53.27M	451.24M
Gross Profit	623.73M	492.89M	215.98M	-8.72M	-12.61M	82.70M
EBITDA	502.02M	331.56M	221.00M	-81.65M	11.05M	52.88M
Net Income	197.89M	147.27M	134.23M	-40.62M	-1.21M	-23.80M
Balance Sheet
Total Assets	3.92B	3.11B	2.30B	1.82B	1.24B	1.49B
Cash, Cash Equivalents and Short-Term Investments	684.44M	94.00M	479.39M	146.89M	7.16M	3.45M
Total Debt	960.58M	223.46M	10.88M	0.00	0.00	96.03M
Total Liabilities	2.38B	1.69B	1.02B	673.28M	56.72M	302.52M
Stockholders Equity	1.54B	1.42B	1.28B	1.14B	1.18B	1.18B
Cash Flow
Free Cash Flow	-97.69M	-420.66M	236.56M	127.00M	-227.79M	238.04M
Operating Cash Flow	-28.34M	-404.67M	497.64M	131.81M	-218.35M	246.83M
Investing Cash Flow	-265.32M	309.65M	-439.80M	-22.71M	321.34M	-80.65M
Financing Cash Flow	632.97M	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: Positive
• STOCH: Positive

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 13.25, above the 50-day MA of 13.92, and above the 200-day MA of 15.00, indicating a bearish trend. The MACD of -0.49 indicates Positive momentum. The RSI at 24.84 is Positive, neither overbought nor oversold. The STOCH value of 11.73 is Positive, 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
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
NILAINFRA	64 Neutral	₹2.66B	20.17	―	―	64.41%	22.85%
MARATHON	58 Neutral	₹27.51B	28.99	―	0.19%	-21.43%	18.96%
MAXESTATES	57 Neutral	₹55.69B	-1,536.76	―	―	79.32%	―
NILASPACES	53 Neutral	₹4.70B	19.80	―	―	1.35%	-1.39%
PARSVNATH	40 Underperform	₹2.79B	-0.76	―	―	-37.98%	40.32%