Microalgae have gained recognition in the scientific community as a potential source of nutraceuticals because it is a sustainable reservoir having the capability to substitute the industrial production of ordinary organic chemical based health supplements. The biomass of microalgae incorporates various functional biomolecules like chlorophyll, carotenoids and phenols that exhibit therapeutic properties and serve as nutraceuticals. In spite of the higher production of the microalgal biomass, their biochemical composition differs, and lack of characterization for nutraceutical properties are the prime hindrance in upscaling these bio-factories. Nutraceuticals are nutrient components of the food that not only exhibit many health benefits but also prevent the occurrence of various health disorders. Two euryhaline microalgal strains BGLR8 and BGLR16, isolated from water logged areas of Punjab, India were screened for biomass production and biochemically characterized for the nutraceutical values. Results indicated that BGLR8 produced maximum amount of nutraceutical compounds such as lipid (86 mg/g), chlorophyll (29.42 mg/g), carotenoid (28.82 mg/g), phenols (4.46 mg/g), phycocyanin (52 mg/g), astaxanthin (19.27 mg/g) and β-carotene (5.6 mg/g) and anti-oxidant activity (31.73%). The results of Gas Chromatography-Mass Spectrometry (GC-MS) revealed the presence of 8 therapeutic compounds viz. Dimethyl (E)-but-2-enedioate, Hexasilacyclododecane, Heptasilacyclotetradecane, Methyl (Z)-pentadec-8-enoate, Methyl octadec-13-enoate, Methyl hexadecanoate, Methyl octadecanoate, Methyl-octadeca-9,12-dienoate in BGLR8. Molecular identification through 18S rRNA gene sequencing confirmed BGLR8 to be a member of Coelastrella. (GenBank accession no.- MW443083.1).