State owned National Buildings Construction Corporation Ltd. (NBCC) has bagged a contract from Delhi Development Authority (DDA) for consultancy and marketing of a project at 25 acres of land at Trilokpuri in the national capital, New Delhi.
The approximate cost of the construction is going to be about Rs 1,500 crore. National Buildings Construction Corporation (NBCC) will be doing project management consultancy, marketing and sales of the said project, the construction major said in a BSE filing. DDA has entrusted NBCC for development of Lake View Complex, based on Transit Oriented Development norms, on 25 acres of DDA land at Trilokpuri in Delhi, it added.
While the company acquired a plot in Jaipur with a size of 7,612.86 sq mt for a real estate project, it also secured orders worth Rs 2,000 crore from various clients, including the West Bengal government during the month of May.
In order to fund business expansion plans, the company has approved 10 percent follow on public offer to raise over Rs 900 crore. The government holds 90 percent equity in NBCC and the stake sale would be subject to their approval. The company was listed on the bourses in 2012 when the government diluted 10 percent stake to raise Rs 127 crore. The price band of its IPO had been fixed at Rs 90-106 per share. NBCC, under the administrative control of the Ministry of Urban Development, provides project management consultancy services for construction projects, civil infrastructure for power sector and real estate development.
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