Nila Infrastructures to construct urban infrastructure projects under affordable housing policy that allows private developers to get transferable development rights (TDR) in Rajasthan worth Rs 4 billion.

The company said, "Entered into an MoU with department of urban development and housing, Government of Rajasthan at resurgent Rajasthan 2015, partnership summit."

Under this MOU the State Government will facilitate smooth implementation of the projects by offering a 'Single Window Service' through concerned local authorities.

Nila is planning to execute urban infrastructure construction projects including affordable houses on land area of total approximate 40 hectares within Rajasthan over a period of 4 years.

Deep S. Vadodaria, COO of Nila Infrastructures said, ''The inking of this MOU with Government of Rajasthan will strengthen our partnership further and deepen our engagement with them. The MoU adds on to our strategy of venturing into newer geographies while focusing on our core strength of civil construction and strong track record of developing affordable housing. The projects under this MoU will accelerate the physical and social development, generate direct and indirect employment alongwith other spin- of beneflts to the State's economy."

Shares of the company gained Rs 1.76, or 15.36%, to trade at Rs 13.22. The total volume of shares traded was 1,510,504 at the BSE (2.13 p.m., Thursday).