NBCC Achieves Record Projects Worth ₹23,500 Crore in FY 2024

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Synopsis:

NBCC achieved a record high of ₹23,500 crore in secured projects during FY 2024, marking a substantial growth of over 250% compared to the preceding fiscal year. Notable projects include projects from Amrapali, the construction of grain storage for the agri-infrastructure sector, and the first redevelopment project outside Delhi with the Kerala State Housing Board.

NBCC announced securing projects worth ₹23,500 crore in the FY 2024. This remarkable achievement reflects a significant increase from the previous fiscal year's consolidated and standalone figures of ₹6,700 crore and ₹4,225 crore, respectively.

NBCC (India) Limited, formerly National Buildings Construction Corporation, is a public sector undertaking (PSU) company under the Ministry of Housing and Urban Affairs, Government of India.

Key Projects and Diversification

Among the major projects secured by NBCC during the fiscal year were additional works from Amrapali valued at approximately ₹10,000 crore, marking a substantial contribution to its order book.

Furthermore, NBCC ventured into the agri-infrastructure sector with the construction of grain storage, a part of the ambitious "World's Largest Grain Storage Plan," estimated at ₹1,500 crore. This diversification highlights NBCC's vision to expand into new sectors beyond its traditional construction portfolio.

Strategic Redevelopment and Infrastructure Initiatives

NBCC also undertook strategic redevelopment projects, including the modernization of Government of India Presses and securing infrastructure projects for SAIL in various locations, totalling ₹580 crores.

Additionally, NBCC's collaboration with the Kerala State Housing Board for its first redevelopment project outside Delhi, valued at ₹2,000 crore, signifies its growing footprint across different regions of India. These initiatives underscore NBCC's commitment to contributing to India's infrastructure growth and development.

Additional Read:  Share Market News

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