NBCC targets Rs 1 lakh crore work order book by March


NBCC targets Rs 1 lakh crore work order book by March

NEW DELHI: State-owned National Buildings Construction Corporation (NBCC) Ltd is aiming to expand with plans to grow its consolidated order book to Rs 1 lakh crore by March next year, up from the current Rs 84,400 crore, as it focuses on broadening its business presence across India.
NBCC (India) Ltd operates in project management consultancy (PMC), engineering, procurement and construction (EPC), and real estate sectors.
KP Mahadevaswamy, chairman and managing director at NBCC told investors, “NBCC has an order book of around Rs 84,000 crore. We are targeting to take Rs 1 lakh crore at the end of this financial year.”
A transcript of a discussion with investors revealed that the total consolidated order book stands at Rs 84,400 crore, with NBCC’s share amounting to approximately Rs 70,400 crore. The remaining portion of the order book belongs to its subsidiaries.
Mahadevaswamy noted that around 55 per cent of the total order book is from PMC/EPC, while the remaining 45 per cent is from redevelopment projects.
He further said that the redevelopment projects take 4-5 years, whereas normal PMC takes only 1.5-2 years, news agency PTI reported.
NBCC, on behalf of the central government, has taken on the redevelopment of several housing colonies in the national capital.
The construction company is already completing stalled projects of the Amrapali Group.
In a regulatory filing on Thursday, the company said the National Company Law Appellate Tribunal (NCLAT), has “appointed NBCC (India) Ltd as Project Management Consultant for the completion of 16 projects of Supertech Ltd”.
The company has been appointed as a consultant “with no liability, and it will complete the Supertech projects within three years”.
NBCC will complete 16 projects, comprising 49,748 houses in Uttar Pradesh, Uttarakhand, Haryana, and Karnataka.
“The tentative construction cost of the project is about Rs 9,445 crore, including 3 per cent contingency. The consultancy fee has been fixed as 8 per cent, including 1 per cent marketing fee,” the entity revealed.
NBCC’s total income for the second quarter of this fiscal year increased to Rs 2,525.95 crore, up from Rs 2,134.36 crore in the same period last year. The company also reported a 53 per cent rise in consolidated net profit, reaching Rs 125.13 crore for the September quarter, compared to Rs 81.90 crore in the previous year.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Supreme Court declines to block Trump sentencing in hush money case

WASHINGTON — The Supreme Court on Thursday rejected President-elect Donald Trump’s request to block criminal proceedings in his hush money case in New York,...

Stocks To Watch: Adani Wilmar, TCS, Tata Elxsi, Mahanagar Gas, IREDA, And Others

Last Updated:January 10, 2025, 07:00 ISTStocks to watch: Shares of firms like Adani Wilmar, TCS, Tata Elxsi, Mahanagar Gas, IREDA, and others will be...

Inside the UK’s first legal drug consumption room in Glasgow

BBCDavid Clark is also on the streets and is trying to get off drugs after a relapse.He pointed out the one-mile distance between the...

Alec Baldwin files lawsuit against New Mexico prosecutors over manslaughter charge in fatal “Rust” shooting

Actor Alec Baldwin has filed a civil lawsuit for malicious prosecution and civil rights violations in...

Follow us

653FansLike
201FollowersFollow
467SubscribersSubscribe

Most Popular