National Buildings Construction Corp auctions 2.8-lakh sq ft office tower in Delhi’s Nauroji Nagar for Rs 1,100 crore

National Buildings Construction Corp

National Buildings Construction Corp

National Buildings Construction Corp

NEW DELHI: State-owned construction company National Buildings Construction Corp (NBCC) on Thursday said it has auctioned a 2.83-lakh sq ft office tower with 10 floors in an upcoming commercial project at Nauroji Nagar in Delhi for Rs 1,100 crore.

The office space has been auctioned to five companies – PFC, HDFC, HPCL, SIDBI and Energy Efficiency Services, according to PTI.

“NBCC has successfully launched and e-auctioned upcoming commercial and office space in one tower (having 10 floors) of 2.83 lakh sq ft super built-up area at Nauroji Nagar which would inflow Rs 1,100 crore in stages as per the agreement,” the company said in a BSE filing.

The project comprise 12 commercial towers, offering over 30 lakh sq ft of office space.

The ministry of urban development in October last year signed a memorandum of understanding (MoU) with NBCC and Central Public Works Department (CPWD) for redevelopment of seven general pool residential accommodation (GPRA) colonies in the national capital.

While NBCC will redevelop Sarojini Nagar, Netaji Nagar, Nauroji Nagar; CPWD will redevelop Kasturba Nagar, Thyagraj Nagar, Srinivaspuri and Mohammadpur.

The project, with an estimated cost of Rs 32,835 crore including maintenance and operation costs for 30 years, will be implemented on self-financing basis by sale of commercial built up area of 8.07 lakh square metre constructed in Nauroji Nagar and parts of Sarojini Nagar by NBCC as a part of the project.

The government is developing a similar Rs 5,298-crore GPRA project in East Kidwai Nagar, with the project scheduled to be completed by December 2018.

The government has already completed a similar GPRA project in New Motibagh.

About National Buildings Construction Corp : NBCC (India) Limited, formerly known as National Buildings Construction Corporation Ltd., is a blue-chip Government of India Navratna Enterprise under the Ministry of Urban Development. Listed with both the Stock Exchanges, the company’s unique business model has today, made it stand out as a leader in its own right in the construction sector with more than INR 36000 Crore Order Book in hand till March 2016 and counting. The Company has registered a substantial 32% Growth in Top line during FY 2015-16 as compared to previous year. It has posted a profit of Rs.311 crore white its total Income has surged to Rs.5838 Crore during FY 2015-16.

Certified with ISO 9001:2008 from the Bureau of Indian Standards in respect of Project Management & Consultancy, the Company’s present areas of operations are categorized into three main segments, i.e. (i) Project Management Consultancy (PMC), (ii) Real Estate Development & (iii) EPC Contracting,

NBCC has been executing many Landmark Projects as a PMC which contributes to about 85% of its annual revenue. The segment being the Company’s core strength, the areas covered under its umbrella include Roads, Hospitals & Medical Colleges, Institutions, Offices, Airports, Bridges, Industrial & Environmental Structures etc.

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