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NBCC Ltd., a prominent state-owned construction company in India, achieved remarkable success in project acquisition during the 2023-24 fiscal year. With a consolidated project value of INR 23,500 crore, marking 250% increase from the previous year, NBCC demonstrated its prowess in construction and infrastructure. Chairman K P Mahadevaswamy attributed this success to the company's robust order book and emphasized their focus on redevelopment and land monetization projects. Notable wins include securing significant FAR works in Amrapali and venturing into new sectors like agri-infrastructure. With a strong order book and diversification strategy, NBCC is poised for continued growth and impact on India's construction landscape.
NBCC Ltd., a leading state-owned construction company in India, has wrapped up a phenomenal year in project acquisition. The company reported securing a record-breaking INR 23,500 crore worth of new projects on a consolidated basis during the 2023-24 fiscal year. This represents a growth of over 250% compared to the previous year's total of INR 6,700 crore. Advertisement
NBCC highlighted its strengths in the construction and infrastructure domain, particularly redevelopment projects and land monetization endeavours. Chairman and Managing Director K P Mahadevaswamy pointed to the company's "robust order book" as a key factor positioning them for sustained growth and contribution to India's construction and infrastructure landscape.
Several notable projects stand out in NBCC's impressive performance. A major win was securing additional Floor Area Ratio (FAR) works in Amrapali, valued at approximately INR 10,000 crore. This project signifies NBCC's role in tackling real estate challenges through redevelopment efforts. Additionally, the company secured its first redevelopment project outside of Delhi - an INR 2,000 crore project for the Kerala State Housing Board (KSHB).
NBCC also showcased its diversification strategy. The company entered the agri-infrastructure sector with an INR 1,500 crore project to construct grain storage facilities under the "World's Largest Grain Storage Plan." Furthermore, they secured an INR 750 crore project for the redevelopment and modernization of Government of India printing presses using a self-financing model. These projects showcase NBCC's commitment to contributing to various sectors critical to India's growth.
With a strong order book exceeding INR 23,500 crore (consolidated basis) and INR 18,400 crore (standalone basis), NBCC is well-positioned for continued success. The company's strategic focus on redevelopment, land monetization, and diversification positions it as a major player in shaping India's construction and infrastructure landscape in the years to come.
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