NBCC Secures Projects Worth ₹ 23,500 Crore in 2023-24 Fiscal
NBCC Ltd., the construction arm of the Indian government, has secured projects worth ₹ 23,500 crore during the 2023-24 fiscal year. This represents a significant increase compared to the ₹ 6,700 crore worth of projects secured in the previous fiscal year.
The company has secured record new works of ₹ 23,500 crore on a consolidated basis and ₹ 18,400 crore on a standalone basis, as compared to ₹ 6,700 crore (consolidated basis) and ₹ 4,225 crore (standalone basis) in the preceding fiscal, according to a statement.
K P Mahadevaswamy, CMD, NBCC (India) Limited, said that the company’s strength in the construction and infrastructure domain, particularly in redevelopment and land monetization endeavors, has contributed to this success.
“With a robust order book and a strategic focus on redevelopment and land monetization, NBCC is well-positioned to not only sustain but also incrementally elevate its growth trajectory, propelling sustainable development forward in India’s construction and infrastructure landscape,” he said.
Major business secured in FY 2023-24 included additional Floor Area Ratio works in Amrapali worth approximately Rs. 10,000 crore, the first redevelopment project outside Delhi for the Kerala State Housing Board (KSHB) project valued at ₹ 2000 crore, and various infrastructure works for SAIL Bhilai, Bokaro, Durgapur, and Burnpur valuing ₹ 580 crore.
NBCC has also diversified into the agri-infrastructure sector through the construction of grain storage under the World’s Largest Grain Storage Plan with an approximate value of ₹ 1,500 crore. The company received work orders for redevelopment and modernization of government of India presses through a self-financing model at Mayapuri, Rashtrapati Bhawan, Nasik, and Kolkata, valued at ₹ 750 crore.
During the financial year 2023-2024, the company has awarded works of about ₹ 9,800 crore pertaining to different projects.
In WTC Nauroji Nagar, NBCC has sold commercial real estate inventory valuing approximately Rs. 6,500 crore this FY as compared to around Rs. 2,100 crore in last FY. As on date, the company has sold a total commercial inventory of over 30 lakh sq ft through 25 e-auctions having a sale value of over ₹ 12,100 crore.
