Rs 8752 crore in commercial space sold: This Navratna company offloaded over 21 lakh sq. ft of unsold commercial space!

Conducted its 21st auction for the sale of commercial space in the iconic World Trade Centre, located in the prestigious Nauroji Nagar

In a thrilling turn of events, the bulls on the National Stock Exchange (NSE) have finally broken free from their six-day losing streak, unleashing a wave of optimism across the trading floor. The NSE benchmark Nifty 50 index soared over 1 per cent, breaching the elusive 19,050 mark that had seemed out of reach. But that's not all – the Bank Nifty, too, joined in the frenzy, surging by a remarkable 1.32 percent, giving traders and investors reason to cheer.

The excitement extended beyond the marquee indices, with the broader markets putting on a spectacular show. The Nifty Mid-Cap and Small-Cap indices flexed their muscles, advancing by 1.59 per cent and a whopping 2.02 per cent, respectively. It was as if the entire market was caught up in a jubilant carnival of green numbers.

NBCC, a company with an intriguing history and an exciting twist in its narrative. On Friday, NBCC's stock price experienced a modest yet significant uptick of 0.78 per cent, but what truly piqued the interest of market participants was the company's daring move. In the heart of the trading day, NBCC hit an intra-day high of Rs 65.60, driven by a captivating development.

Founded back in 1960, NBCC is no ordinary entity. It operates as a central government enterprise under the Ministry of Urban Development and holds the prestigious title of a Schedule A Navratna company. Its primary mission? To take on civil and industrial infrastructure projects for central and state governments. Here's the intriguing part – these projects are awarded to NBCC on a nomination basis, and the company then delegates them to third-party contractors, turning it into a true architect of opportunities.

But that's not all. NBCC doesn't just wait for projects to come its way; it's an active player in securing jobs from the government and public sector clients through competitive tenders. And, if you thought that was the end of their fascinating journey, think again.

In a brilliant twist, NBCC recently conducted its 21st auction for the sale of commercial space in the iconic World Trade Centre, located in the prestigious Nauroji Nagar, New Delhi. And the results are nothing short of breathtaking. The company successfully offloaded an impressive unsold commercial inventory of approximately 3.91 lakh square feet, boasting a staggering sale value of Rs. 1557.51 crore. But that's not the end of the story.

Out of this massive inventory, a substantial chunk of 2.97 lakh square feet, with a sale value of Rs. 1183.7 crore, found new owners in the private sector, further boosting NBCC's coffers. And the excitement doesn't stop there, as NBCC has already managed to sell a total of 21.7 lakh square feet of unsold commercial space through open e-auctions, racking up an impressive sale value of Rs. 8751.61 crore.

Disclaimer: The article is for informational purposes only and not investment advice.