NBCC, i.e. the National Building Construction Company which is a State-owned construction firm recently bagged the contract to build the office of Ministry for Skill Development and Entrepreneurship in New Delhi. This is a Rs.172 crores order and NBCC confirmed to receive a letter of award [LoA] of work from Government of India to construct the office building i.e. Kaushal Bhawan at New Delhi.
NBCC (India) is a Navratna Enterprise under the Ministry of Urban Development, with consolidated revenue of Rs 7,096 crores.
The shares of NBCC were trading 4.59 percent higher at Rs 52.45 apiece on BSE.
NBCC has been involved in several important and reputed projects that firstly as a bidder for stalled Jaypee Infratech projects, responsible to submit DPR [Detailed Project report] in Supreme Court in the case of Amrapali group and getting Government project to redevelopment six colonies in New Delhi that includes Sarojini Nagar, Netaji Nagar, WTC [World Trade Center] in Nauroji Nagar and three more.
Earlier this year, NBCC – the State-owned project management consultancy firm was expected to take over two sick PSUs [Public Sector Undertaking] land in order to build residential projects by the end of this financial year in March 2019. Interestingly, NBCC also figured out four to five land parcels for the same projects out of which the one is planned to be developed in Delhi-National Capital Region [NCR] and the second residential project will either come up in Hyderabad or Kolkata.
The National Building Construction Company is expected to earn Rs. 770 crores by completing the Amrapali projects according to the proposal submitted by NBCC [National Buildings Construction Company] in the Supreme Court.
The project management cost stands at 10% of the actual cost of work that includes completion of under-construction projects in A, B and C category and is evaluated at Rs. 774.17 crores as per the conditions of association proposed by NBCC.