Nila Spaces Leads Sustainable Real Estate with Innovation and Partnerships

CXOToday has engaged in an exclusive interview with Deep Vadodaria, Chief Executive Officer at Nila spaces limited
1. Can you elaborate on the specific technologies and strategies Nila Spaces employs to achieve carbon neutrality across its projects? How do these technologies contribute to reducing carbon emissions effectively?

A: We employ a variety of technologies and strategies to achieve carbon neutrality across its projects. These include:

  • Integration of renewable energy sources such as solar panels and wind turbines to power buildings and reduce reliance on fossil fuels.

  • Utilization of energy-efficient building materials and designs to minimize energy consumption during both construction and operation phases.

  • Implementation of smart building technologies for monitoring and optimizing energy usage in real-time.

  • Adoption of green transportation solutions such as electric vehicle charging stations and promoting carpooling to reduce emissions from commuting.

  • Incorporation of sustainable landscaping practices to enhance biodiversity and reduce environmental impact.

  • Indirectly, we also support carbon neutrality efforts through the purchase of renewable carbon credits, further offsetting our carbon footprint and contributing to global sustainability initiatives.

These technologies contribute to reducing carbon emissions effectively by minimizing energy consumption, utilizing renewable energy sources, and optimizing resource usage throughout the project lifecycle from start to finish.

2. In what ways does Nila Spaces integrate biofuels, solar energy, and other innovative solutions into its projects? Can you provide examples of how these technologies are implemented and their impact on energy conservation?

A: Biofuel-powered generators may be used as backup power sources, reducing reliance on traditional fossil fuel generators and lowering emissions.

  • Solar panels installed on rooftops or integrated into building facades harness solar energy to generate electricity, reducing dependence on grid power and decreasing carbon emissions.

  • Innovative HVAC (heating, ventilation, and air conditioning) systems equipped with energy-efficient features help regulate indoor temperature and optimize energy usage, thereby reducing overall energy consumption.

  • We procure renewable carbon credits, which serve as an investment in biofuels, enhancing our contribution to carbon neutrality initiatives.

3. How does Nila Spaces utilize data and technology to monitor and optimize energy consumption within its sustainable real estate developments? Are there any notable technological advancements or partnerships that have enhanced these efforts?

A: We utilized the latest Building Information Management (BIM) system to generate a detailed Bill of Quantities (BoQ), right from the start of our project Vida. Based on the BoQ specifications as per  ISO 14064 standards, greenhouse gas (GHG) emissions are calculated. In a proactive effort to mitigate emissions, we pursued IGBC Platinum certifications, resulting in a revised BoQ. Subsequently, GHG emissions were recalculated, revealing a reduction compared to previous assessments.

Additionally, we made a conscientious decision to power the entire project with Green Power, further reducing our environmental footprint.

Acknowledging the inevitability of greenhouse gas emissions in real estate, we strategically opted to purchase renewable carbon credits. This initiative not only mitigates carbon emissions but also supports and boosts projects aligned with sustainability objectives.

4. Given the increasing emphasis on sustainability in the real estate industry, how does Nila Spaces stay ahead of the curve in adopting and implementing new technologies? Can you discuss any recent technological innovations or pilot projects the company has undertaken in this regard?

A: To me, sustainability is not a luxury but a necessity and to stay ahead of the curve we are continuously exploring innovative solutions and collaborating with industry partners and research institutions to help us achieve our mission. We believe that design plays a crucial role in driving sustainability in real estate. So we brought on board Blocher Partners’ Chief Architect Hartmut Wurster, who is a world-renowned expert in sustainable construction to design Vida, which will be a landmark for contemporary, sustainable living.

Through our VisionX Program, managed by Awfficacy Capital, we have committed USD 1M to foster innovation in prop-tech startups. VisionX is a 12-week rolling accelerator program tailored to nurture and elevate early-stage prop-tech startups.

We have also brought on board Deloitte to quantify and address operational and embodied carbon emissions and chalk out a plan of mitigating associated carbon emissions, from start to finish of our project in Gift City – Vida. They will also measure emissions and share meaningful ways in which Vida can be carbon neutral throughout, even after completion of the project.

5. With the growing demand for sustainable living spaces in India, how does Nila Spaces leverage technology to enhance its market positioning and meet the evolving needs of environmentally conscious consumers? Are there any digital platforms or smart technologies integrated into its developments to enhance sustainability and user experience?

A: We leverage technology to enhance our market positioning and meet the ever-evolving needs of environmentally conscious consumers. Some of the measures include enhancing  user experience and promoting sustainable behaviors by providing real-time feedback on energy usage, indoor air quality, and environmental performance. We even showcase our project through interactive virtual tours and augmented reality.

6. Could you elaborate on any collaborations or partnerships Nila Spaces has established with technology firms or research institutions to further advance its sustainable real estate initiatives? How do these collaborations contribute to driving innovation within the company?

A: We have a singular focus on achieving ‘Carbon Neutrality’ status within the real estate sector. To achieve this, we partner with third-party subject matter experts to ensure we are on the right track. Recently, we partnered with Deloitte to develop our’‘Carbon Neutrality Assessment Report’. This initiative quantifies and addresses operational and embodied carbon emissions and mitigation of associated carbon emissions, setting a precedent for environmentally conscious development in the industry. The report reveals an intricate carbon neutrality roadmap and emission analysis meticulously crafted to entirely neutralize the carbon emissions from the construction of our Project VIDA in Gift City. In strict accordance with ISO 14064 and GHG Protocol standards, the report systematically dissects emissions within the realms of Scope 1, 2, and 3. Going beyond, it proposes an optimal blend of. Premium-quality carbon credits, assuring not only the thorough mitigation of the project’s carbon impact from inception to completion but also incorporating periodic assessments with quarterly checks. This approach carefully considers factors such as cost-effectiveness, market demand, and consumer awareness.

7. What role does data analytics play in Nila Spaces’ approach to sustainable real estate development? How does the company utilize data-driven insights to optimize resource management, improve operational efficiency, and enhance overall sustainability performance?

A: Nila Spaces integrates a comprehensive suite of integrated systems, including vertical-specific ERP, to streamline operations and drive sustainability. Maintaining one version of truth within our ERP system ensures consistency and accuracy across all project-related data. Utilizing advanced data analytics capabilities embedded in our ERP, we leverage dynamic dashboards to gain real-time insights into resource usage, energy consumption, and environmental impact. Continuously reviewed and analyzed, these dashboards empower us to identify trends, patterns, and areas for improvement.

A cornerstone of our sustainability strategy involves comparing projected Bill of Quantities (BoQ) against actual resource usage, facilitated by tight monitoring and verification processes. Through meticulous comparison with industry and IGBC standards, we ensure alignment with best practices and sustainability benchmarks.

Moreover, we employ cutting-edge project management tools to enhance planning and waste control, facilitating efficient resource allocation, scheduling, and coordination. These measures not only drive improved project outcomes but also minimize environmental impact, reflecting our commitment to sustainable development.

8. Looking ahead, what are Nila Spaces’ plans for leveraging emerging technologies to further enhance its sustainable practices and stay at the forefront of eco-friendly real estate development in India? Are there any upcoming projects or initiatives that incorporate cutting-edge technology solutions?

A: Looking ahead, we want to leverage emerging technologies to further enhance our sustainable practices and maintain our position in eco-friendly real estate development in India. This may involve:

  • Exploring frontier technologies such as artificial intelligence, machine learning, and blockchain to optimize resource allocation, streamline operations, and enhance transparency in sustainability reporting.

  • Investing in research and development initiatives focused on next-generation renewable energy solutions, green building materials, and circular economy principles to push the boundaries of innovation and sustainability.

  • Collaborating with technology startups, academic institutions, and government agencies to pilot new technologies, incubate promising ideas, and scale successful interventions across its project portfolio.