NBCC bags order worth Rs. 390 crore

On Monday, 16th September 2019, NBCC (India) Limited announced that it has signed a Memorandum of Understanding (MoU) with Utkal University, Bhubaneswar, Odisha.

According to this Memorandum of Understanding with Utkal University, the company will construct various infrastructures building in existing campus of the University at Bhubaneswar and new campus at Chandikhol, Odisha. The approximate cost of work would be Rs. 390 crore.

Meanwhile, the state-owned NBCC is directed by the Supreme Court to give a revised plan to complete the stalled projects of debt-laden Jaypee Group in aim to address the grievances of thousands of harassed homebuyers.

National Buildings Construction Corporation (NBCC) is a Navratna, wholly-owned Government of India undertaking under Ministry of Urban Development (MoUD). The company is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects, civil infrastructure for power sector and real estate development. The projects undertaken by NBCC are spread across 23 states and 1 union territory in India. In addition, the company also has undertaken overseas projects. The Government of India granted the company Schedule 'A' PSU status.

On Tuesday, the stock of NBCC opened at Rs. 38.25 per share and made an intraday high and low of Rs. 38.30 and Rs. 37.50, respectively on the BSE. At 10.15 am, the stock was trading at Rs. 37.65, at its previous close.