NBCC diversifies into road sector, wins order worth Rs. 2,000 crore

State-owned Navratna CPSE, NBCC (formerly National Building Corporation of India) which is involved in management and consultancy services for civil construction projects is in path of expanding its offering and has bagged order of worth Rs. 2,000 crore in road sector.

The order includes developing 50 kilometres of four lane highway in the state of Uttarakhand. This highway will be build under green road model. For ecological planning of the project, NBCC will partner with Wildlife Institute of India, Dehradun.

Presently, the company boasts of Rs. 80,000 crore order book, out of this order book around Rs. 50,000 crore orders belong to redevelopment.

On the other hand, according to media report the Enforcement Directorate (ED) is likely to hand over attached properties, including that of Nirav Modi and Vijay Mallya's, to NBCC to be rented out for commercial or residential purposes. To perform this NBCC will get around 20 per cent from rents and a commission from the auction.

Amidst continued sell-off in D-Street, the stock of NBCC Monday opened gap up at Rs. 205 as against previous close of Rs. 200.3 per share. However, the stock failed to sustain at day's high of Rs. 205.6 and fell to day's low of Rs. 199.5 and as on 11.18 hours, the stock is trading at Rs. 200.4 per share.