NBCC business secured Rs 23,500 cr on consolidated basis in FY2023-24

April 24, 2024: Public sector company NBCC secured new works of Rs 23,500 crore on a consolidated basis and Rs 18,400 crore on a standalone basis in the financial year 2023-24 (FY 2023-24), as compared to Rs 6,700 crore (consolidated basis) and Rs 4,225 crore (standalone basis) in the preceding FY. According to an official release, the company secured major business, which includes:

• Additional FAR works in Amrapali worth around Rs 10,000 crore.
• The first re-development project, the Kerala State Housing Board (KSHB) Project, valued at Rs 2,000 crore.
• Diversification into the agri-infrastructure sector through construction of grain storage under World’s Largest Grain Storage Plan with value of around Rs 1,500 crore.
• Redevelopment and modernisation of Government of India Presses through self-financing model at Mayapuri, Rashtrapati Bhawan, Nasik and Kolkata, valuing Rs 750 crore.
• Various infrastructure works of SAIL Bhilai, Bokaro, Durgapur and Burnpur valuing Rs 580 crore.
• NIT Sikkim works valuing Rs 560 crore.
• Construction work of Jawahar Navodaya Vidyalaya (JNV) at various locations of Odisha, Bihar, Jharkhand, NER, UP and Delhi valuing Rs 346 crore.
• Other works secured are for Paradip Port Authority (PPA), Indian Medical Association (IMA), Khadi Village Industrial Commission (KVIC), NIFT Varanasi, Institute of Chartered Accountants of India (ICAI), PWD Puducherry, etc.
• MoUs signed with BHEL (land monetisation), HUDCO, DMRC& Institute of Company Secretaries of India (ICSI).

According to the release, the company recorded all-time high sales with commercial real estate inventory sales at World Trade Centre, New Delhi, worth around Rs 6480 crore, an increase of over 208% compared to sales achieved last FY.

Amrapali: NBCC has completed about 19,000 units in just three years (including two years under the influence of Covid-19 pandemic). The company plans to deliver another 19,000 units before March 2025. NBCC along with Aspire team has achieved sale of over 6,300 units in Amrapali Projects with total sale value of more than Rs. 3,650 crore.

WTC Nauroji Nagar: NBCC has sold commercial real estate inventory valuing approximately Rs 6,500 Crore this FY as compared to around Rs 2,100 crore in last FY. As on date, the company has sold a total commercial inventory of over 30 lakh square foot (sqft) through 25 e-auctions having a sale value of over Rs 12,100 Crore. The project is rapidly progressing towards completion with achievement of more than 95% of physical progress.

Works aswarded: During the financial year 2023-2024, at a consolidated basis, the company has awarded works of around Rs 9,800 crore pertaining to different projects compared to works of around Rs 6,050 crore last year, by registering a significant growth of about 62%.

P. Mahadevaswamy, CMD of NBCC (India) highlighted, “With a robust order book and a strategic focus on redevelopment and land monetization, NBCC is well-positioned to not only sustain but also incrementally elevate its growth trajectory, propelling sustainable development forward in India’s construction and infrastructure landscape.”