NBCC share rises as PSU bags Rs 3,700 crore order; details here

Shares of NBCC (India) Ltd advanced in Monday's trade after the civil construction company said it has been selected as the lead agency to design, build, and market the Rajasthan Mandapam Convention Centre, Global Capability Centre (GCC) Tower, IT Tower, luxury hotels, and new commercial and residential infrastructure on 95 acres of Rajasthan State Industrial Development & Investment Corporation (RIICO) land along the B2 Bypass, Tonk Road.

The NBCC stock rose 2 per cent from day's low of Rs 103 to Rs 105 apiece on BSE. Over its previous day's close, it was up 1.4 per cent.

NBCC India is a Navratna Enterprise, with operations spreading across India & overseas. I is focused on three market segments: PMC (project management consultancy), EPC (engineering procurement & construction) & RE (real estate).

"In this regard, the Government of Rajasthan has announced this transformative development project with its recent cabinet approval, with an overall estimated investment reaching approximately Rs 3,700 crore," NBCC said.

NBCC said the project’s scope is ambitious and future-oriented, with plans for the Rajasthan Mandapam Convention Centre to be developed on approximately 25 acres land parcel. The planned Rajasthan Mandapam, with over 2 lakh square meters of built-up area, is envisioned as a 7,000-7,500-seat world-class convention, it said.

At the end of June quarter, NBCC's standalone order book stood at Rs 1,05,000 crore and consolidated order book Rs 1,20,000 crore. NBCC secured Rs 2,400 crore worth orders in the June quarter on consolidated basis.

For the June quarter, total operating income stood at Rs 2,391 crores on consolidated, reflecting an increase of 12 per cent year-on-year on consolidated basis. Its consolidated PAT stood to Rs 135 crore, making 26 per cent year-on-year growth.