#Chairman & Managing Director NBCC

[dhallblogs]

KP Mahadevaswam assumes an additional charge as Director (Finance) of NBCC.

New Delhi: KP Mahadevaswam, Chairman & Managing Director (CMD) of NBCC (India) Limited, has been granted the additional job of Director (Finance). He has been given extra charge of the post for three months, beginning July 1 or until the regular incumbent joins or until further orders, whichever comes first. The Navratna PSU disclosed this information in a regulatory filing to the stock exchange.

ALSO READ MORE- https://apacnewsnetwork.com/2024/07/kp-mahadevaswam-assumes-an-additional-charge-as-director-finance-of-nbcc/

[rajsinghj]

NBCC Officers association write to mgmt to hold recruitment

New Post has been published on https://propertyhome.in/nbcc-officers-association-write-mgmt-hold-recruitment/?utm_source=Tumblr

NBCC Officers association write to mgmt to hold recruitment

National: Citing financial burden on National Buildings Construction Corporation Limited due to unsold inventory and huge refund demand by flat owners, the NBCC (India) Officers Welfare Association has written to Chairman-cum-Managing Director PK Gupta to hold the plans for recruitment of deputy general managers and project managers in the civil wing.

Sanjay Bhasin, President of the association, said NBCC had achieved the mountaineering heights during last 10 years and got the Navratna enterprise status due to hardworking and devotions of the employees with the visionary leadership of the management.

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“However in the recent past, Corporation is going down day by day in terms of turnover and profit margins due to various reasons” he said and added that a real estate project namely NBCC Green View in Sector-37 D in Gurgaon has been declared unsafe for home buyers and NBCC needs to refund all the money to home buyers with interest which is approx. 400 Crores.

In his letter to Gupta, Bhasin further said that unsold inventory is about 700 Crores is likely to put huge burden on the establishment. “This may impose a huge negative impact on balance sheet and decrease NBCC’s profit significantly.

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“In addition to this, NBCC is not performing the work in redevelopment projects. NBCC is performing very poorly on the part of delivering the projects still the management is taking the wrong decisions which may affect the future of the company. Recently management advertised the vacancies of DGM (Civil) and Project managers(Civil) which is not at all required at this stage of the company” wrote Bhasin.

He said this recruitment will put the burden on the profit due to an increase in the salary. “Apart from this, this will be injustice to the old regular junior management staff of the company who are working for last 8-10 years. Instead NBCC needs to engage staff at JE/PE level for monitoring the quality and that will have a low impact on the salary of the company” he said. “No other PSU in India has a lateral entry mechanism like NBCC, which recently recruited around 200 contract/regular staff during the recent past and there is no need to recruit DGM & PM level officers in the regular establishment at this juncture of time as we are already having 136 DGM/AGM level employees. NBCC is also having 223 DPM/PM level efficient employees who will become DGM/AGM within next 2 to 3 years” reads the letter.

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Bhasin said “In view of these facts, we have requested the top management that the recruitments in regular establishment in question may kindly be reviewed”.

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[monicasharmalove]

Anarock to facilitate sale of 5,400 flats of Amrapali for Rs 2k cr in NCR

Homegrown housing brokerage firm Anarock, which has got the mandate to sell around 5,400 unsold flats of erstwhile Amrapali group, on Thursday said it has facilitated the sale of 150 units for Rs 70 crore in the last one month and expects a total sales bookings of over Rs 2,200 crore in the next four years. The state-owned NBCC has undertaken the completion of many residential projects in Noida and Greater Noida under the aegis of Amrapali Stalled Projects and Investment Reconstruction Establishment (ASPIRE) and supervision of the Supreme Court of India. The proceeds from unsold units will be utilised to complete the stalled projects of Amrapali group. "We have got the mandate as exclusive channel partner for the sale of around 5,400 unsold homes in projects by the erstwhile Amrapali Group.

The total sales bookings in value terms is estimated at about Rs 2,200 crore," Anarock Vice Chairman Santhosh Kumar told PTI. ADVERTISING The company has already facilitated sales of 150 units for Rs 70 crore within just 30 days, the property consultant said in a statement. Anarock, which was founded by Anuj Puri in April 2017, said it would deploy proprietary PropTech marketing tools to market these projects. NBCC Chairman and Managing Director (CMD) P K Gupta said: "41,000+ sold and 5,000+ unsold units in 20+ stalled projects, together accounting for 46,000+ units, will be delivered by NBCC in tranches by June 2024. It is the beginning of the biggest customer redressal initiative in the history of Noida/Greater Noida's real estate market." In the first phase, the properties on offer range from 1 BHKs to penthouses priced between Rs 20 lakh to Rs 1.5 crore in 20 projects in Noida and Greater Noida. According to Anarock, all included projects of Amrapali group will be completed and delivered by June 2024 at an estimated project cost of Rs 8,189.82 crore.

[amitbwadhwani]

Realty Sector Yet To Reflect Impact Of Government's Measures: Report

The real estate sector continued to reel under pressure in 2019 due to a prolonged liquidity crisis in non-banking finance company (NBFC) segment

New Delhi:

The real estate sector continued to reel under pressure in 2019 due to a prolonged liquidity crisis in the non-banking finance company (NBFC) segment. The government came up with a slew of stimulus measures during the year to infuse liquidity and boost demand, but these have not made any noticeable impact as sales declined in the second half of the year.

According to a report by Anarock Property Consultants, a total of 2.61 lakh units were sold during the year, a year-on-year growth of 5 per cent. Out of the overall sales across seven major cities in the country during the year, around 1.47 lakh flats were sold in the January-June period, and the remaining 1.14 lakh have been sold so far in the second half.

Despite the steps announced by the government, mostly in the second half of the year, sales during July-December declined by 22 per cent compared to the first half.

"The unrelenting liquidity crisis, lower-than-expected buyer sentiments and faltering GDP growth eventually put brakes on the overall housing growth in the second half of 2019," said Anuj Puri, Chairman of Anarock Property Consultants.

Among other liquidity infusing measures, in a much-awaited relief for distressed home buyers awaiting possession of their flats, the Finance Ministry last month committed up to ₹ 10,000 crore for completing housing projects stuck for years.

Thereafter, the Union cabinet cleared a proposal to set up a 'Special Window' in the form of an Alternative Investment Fund (AIF) to provide priority debt financing for the completion of stalled housing projects that are in the affordable and middle-income housing sector.

The corpus size of the AIF would be scaled up to ₹ 25,000 crore after SBI and LIC pumps in funds. It would grow further in the coming days with the addition of sovereign wealth funds and pension funds, the government said. The fund, however, is a work in progress right now.

"The year 2019 turned out to be a rather challenging one. Despite various measures announced by the government as well as the RBI, the going was tough for the industry. The sluggish economic growth during the first two quarters of the current fiscal added to the misery of the sector," Manoj Gaur, MD Gaurs Group and Chairman of CREDAI Affordable Housing Committee.

Deepak Kapoor, Director, Gulshan Homz said that although multiple policy measures were announced, "something was left wanting and it is this gap that has be plugged in the new year."

He hoped that 2020 would be more fruitful in terms of funding for real estate and finance options for the buyers.

Further, in a major boost for the flow of liquidity, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has reduced its repo rates in over five consecutive bi-monthly meets this year, making a cumulative reduction of 135 basis points (bps).

However, the transmission of the RBI's rate cuts to retail loans has only been 44 bps, according to the apex bank.

In its previous MPC meeting earlier this month, the central bank kept its repo rate, or short term lending rate for commercial banks, unchanged at 5.15 per cent and said that it would like to wait for the impact of the previous successive rate cuts.

Amit Wadhwani, MD of Mumbai-based realty consultancy SECCPL said: "The year 2019 saw the relentless challenge for the real estate sector with severe liquidity crisis leading to a number of bankruptcies, regular reforms and amends by government."

The year was also marked by home buyers' victories in major legal tussles with the builders. In a landmark judgement in the Amrapali case, the Supreme Court in July directed the public sector enterprise NBCC (India) to take over the stalled Amrapali projects and complete them. However, work on the projects is yet to gain momentum and the Supreme Court earlier in the month directed SBICAP Ventures Ltd to decide on financing the uncompleted projects of the defunct Amrapali Group.

Besides, the resolution process for Jaypee Infratech, where over 20,000 home buyers are yet to get their flats after a delay of around a decade, has also neared completion. Earlier this month, NBCC's resolution plan got the majority votes from the firm's Committee of Creditors (CoC) and is set to acquire Jaypee Infratech and its stalled projects.

Next, the NBCC plan has to receive the approval of Allahabad bench of National Company Law Tribunal (NCLT).

Dhruv Agarwala, Group CEO of Elara Technologies, said that along with the ₹ 25,000 crore fund to salvage stalled projects, the progress made in resolutions for Jaypee and Amrapali group will go a long way in reviving sentiment in the market during 2020 and coming years.

Although residential real estate remained subdued and tepid, commercial realty witnessed a positive run during the year.

According to a JLL report, India's office market has set a new benchmark and recorded a historic high, both in net absorption and new completions. While 4.65 million square feet of space got absorbed, nearly 52 million square feet of Grade-A office space was completed in 2019.

Along with the conventional commercial and office spaces segment, co-working, co-living spaces and student housing also gained in demand during the year.

Speaking on student housing, Anindya Dutta, MD and Co-founder Stanza Living said, "The industry is beginning to garner investor attention. Also, rental yield improvement and professional asset management have created growing interest from landlords, property owners, educational institutes and developers for partnership."

"We believe the student housing industry is still nascent and has the potential to grow at least '4x' over the next decade," he added.

On the outlook for 2020, market players are optimistic that the demand scenario would improve across segments and government's measures would result in positive impact on the long-subdued sector.

"We hope the coming year is the last year of the storm that has engulfed residential realty," said Samir Jasuja, Founder and MD at PropEquity.

This article was originally published in English www.ndtv.com

All rights reserved. Any act of copying, reproducing, or distributing this newsletter whether wholly or in part, for any purpose without the permission of Amit B Wadhwani is strictly prohibited and shall be deemed to be copyright infringement

[bigyack-com]

Tenders floated to select contractor for Amrapali flats - real estate

The state-owned NBCC Thursday said it has issued tenders to select a construction agency that will be engaged to complete the construction of three Amrapali housing projects. The move comes after the Supreme Court-appointed court receiver, R Venkatramani, on January 10 asked the NBCC to hire construction agency so that apartment owners can get flats.“We have issued tenders to select a contractor that can carry out construction work and finish housing projects of Amrapali. Some agencies were already hired and these started finishing work in other projects,” NBCC chairman and managing director PK Gupta said. The NBCC has issued tender for Amrapali Heartbeat City-1 and 2, located in Sector 107, and Amrapali Platinum and Titanium, located in Sector 119. In Amrapali Heartbeat City-1 and 2 some flats are ready but work on civic amenities is yet to be finished. “Similarly, in Platinum and Titanium projects, only some of the flats are complete. We do not have the exact number of flats that need to be finished,” said a Noida authority official not authorised to speak to the media.The NBCC said it has a budget of Rs170.30 crore to finish the remaining work in Heartbeat City-1, Rs 405.24 crore for Heartbeat City-2 in which only civil structure of flats are complete, officials said. For Amrapali Platinum and Titanium, the NBCC has a budget of Rs 20.83 crore as there isn’t much work that needs to be completed, officials said.In March last year, Amrapali Group’s promoters were arrested and jailed in connection with an economic offences complaint registered against them. On July 23, the SC appointed a court receiver to take control of all housing projects by the Amrapali Group. “We have asked the NBCC to select a construction contractor, finish the remaining works and deliver the flats to apartment owners,” court receiver R Venkatramani said. In some partially completed housing projects, a handful of apartment owners have been living without access to common facilities such as lifts, fire safety systems and approach roads, since 2014-15 when the developer made them shift.“We hope that the NBCC will finish remaining work and we will get the required services. We are happy that the government will finally complete the flats. We have been suffering for a long time,” Dinesh Kumar, an investor in Amrapali Heartbeat City-1, said. Read the full article

[sarkarimirror]

P. K.GUPTA NEW CMD NBCC PROFILE.

New Delhi: Shri PK Gupta takes over as the Chairman & Managing Director of NBCC (India) Limited., a Navratna CPSE, on October 7, 2019. An order no. 0-17034/31/2019-PS dtd 7th Oct. 2019, to this effect has been issued by the administrative Ministry of Housing & Urban Affairs, Govt. of India. Before taking over the charge of CMD, NBCC, he was Executive Director (Regional Projects) in RITES Limited, also a CPSE under the Ministry of Railways. Shri Gupta holds a Bachelor's degree in Civil Engineering from NIT, Kurukshetra and an M.Tech from IIT Delhi. He joined Indian Railway Service of Engineers in 1986 and now has 33 years of Civil Engineering works experience, serving in Railways and its constituents in various capacities During Shri Gupta's tenure as Executive Director in the last organization, he has successfully supervised planning, designing and execution of more than 125 projects. His knowledge and expertise in the field of Civil Engineering is manifested by many landmark projects in areas of Metro and Rail Infrastructure which include Metro in Mauritius, Metro Rail Projects in India, Roads under/over Bridges and various buildings etc. he has undertaken and successfully executed Read the full article

[todaybharatnews]

via Today Bharat nbsp; In the first phase, government lands in prime areas of major cities will be monetised through NBCC, which will create and sell commercial space. VIJAYAWADA: The state government will aggressively pursue monetisation of government lands, both vacant as well as with buildings, which have been identified in all major cities and towns. Chief Minister Y.S. Jagan Mohan Reddy has held a detailed discussion on putting government lands to effective use with National Building Construction Company chairman and managing director P.K. Gupta, who called on the CM here on Tuesday. In the first phase, government lands in prime areas of major cities will be monetised through NBCC, which will create and sell commercial space. If an area has huge potential, the government will relocate its existing offices and take up commercial development on such areas, sources indicated. AP had taken up the ldquo;Mission Build Andhra Pradeshrdquo; initiative with NBCC in November last year. Following up on the project, it took up the elaborate exercise of identifying vacant government lands, small parcel sites with dilapidated government buildings, and lands with government office buildings in good condition. ldquo;We have identified potential lands. We will have better clarity once the house sitesrsquo; programme of the state government is over, because of some of the lands might be used for that scheme,rdquo; a revenue official told Deccan Chronicle. ldquo;We have also proposed to take up immediate construction on few sites, whose potential is very high,rdquo; he stated. The state government is hoping to increase its revenues by promoting construction activity on a large scale. Apart from the Mission Build Andhra Pradesh initiative, the housing department is hoping construction activity will witness a fillip, thereby increasing tax revenues from large-scale construction of houses on sites allotted to weaker sections. ...

[iksathrob]

NBCC Chairman and Managing Director Anoop Kumar Mittal declined to comment on details of the company’s bid. from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com http://bit.ly/2GS27mq

http://realestateiksa.blogspot.com/2019/02/nbcc-suraksha-group-bid-to-acquire.html

[m-n-a-critique]

NBCC, Suraksha bid to acquire Jaypee Infratech, finish stalled projects

#NBCC, #Suraksha bid to acquire #JaypeeInfratech, finish stalled projects

State-owned NBCC and Mumbai-based Suraksha group have submitted bids to take over bankruptcy-bound Jaypee Infratech and complete stalled housing projects in Noida, sources said.

The value of the bids could not be immediately ascertained.

NBCC Chairman and Managing Director Anoop Kumar Mittal said the company is “keen to acquire” Jaypee Infratech and complete over 20,000 housing units.

He declined…

[smartmeindia-blog]

NCR housing dream: NBCC might take up stalled projects

NCR housing dream: NBCC might take up stalled projects

NCR housing dream: NBCC might take up stalled projects (Representative image)

NBCC is ‘interested’ in taking over stalled projects in the Noida, Greater Noida and Yamuna Expressway area, Anoop Kumar Mittal, project management consultant, chairman and managing director of the state-run company, has said. “We will hire another company and get the projects completed…For this we will charge…

[giveawaymass]

NBCC Junior Engineer Civil Exam Result 2017 – Cut Off Marks Online

NBCC Junior Engineer Civil Exam Result 2017 – Cut Off Marks Online

National Buildings Construction Corporation Limited (NBCC) is a Central owned enterprise, Public Sector Undertaking. National Buildings Construction Corporation Limited was established in 1960 at New Delhi. the Chairman and Managing Director (MD) of NBCC is Dr. Anoop Kumar Mittal. NBCC mainly offers services in Real Estate Development & Construction business, and also provides Project Management…

[poonamparekh]

Realty shares in focus; Sobha, Kolte-Patil, Puravankara touch 52-wk high

STOCK MARKET - Shares of real estate companies were trading higher by up to 14% on the BSE in an otherwise subdued market in noon deal trade on expectation of uptick in residential new sales in ensuing quarters across key markets.

Sunteck Realty, Sobha, Kolte-Patil Developers, Unitech and Puravankara were up 5% to 14% on the BSE. The S&P BSE Realty index up 1% as compared to 0.19% decline in the benchmark S&P BSE Sensex at 12:40 PM.

Kolte-Patil Developers, Puravankara and Sobha were trading at their respective 52-week highs while NBCC (India), Delta Corp and Sunteck Realty hit record highs on the BSE in intra-day trade on Monday.

Sobha hit a fresh 52-week high of Rs 553 today rallied 41% in past 10-trading days, after the company announced Q2 pre-sales numbers. The company said that it achieved new sales value of Rs 593 crore in July- September quarter (Q2FY18) was the highest in the past 10 quarters. The real estate developer had reported sales value of Rs 518 crore in the same quarter last fiscal.

“With the onset of RERA and GST, we are already witnessing an increase in customer confidence and an improved market sentiment. We believe that credible players are likely to gain ground and unorganised players will be pushed out and we will witness consolidation in the sector,” Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said while announcing Q2 results on October 16, 2017.

According to analyst at Edelweiss Securities, the key uncertainties (RERA & GST) appear to have largely settled. Despite near‐term sluggishness, we expect uptick in residential new sales in ensuing quarters across key markets.

[sarkarimirror]

P. K.GUPTA NEW CMD NBCC PROFILE.

New Delhi: Shri PK Gupta takes over as the Chairman & Managing Director of NBCC (India) Limited., a Navratna CPSE, on October 7, 2019. An order no. 0-17034/31/2019-PS dtd 7th Oct. 2019, to this effect has been issued by the administrative Ministry of Housing & Urban Affairs, Govt. of India. Before taking over the charge of CMD, NBCC, he was Executive Director (Regional Projects) in RITES Limited, also a CPSE under the Ministry of Railways. Shri Gupta holds a Bachelor's degree in Civil Engineering from NIT, Kurukshetra and an M.Tech from IIT Delhi. He joined Indian Railway Service of Engineers in 1986 and now has 33 years of Civil Engineering works experience, serving in Railways and its constituents in various capacities During Shri Gupta's tenure as Executive Director in the last organization, he has successfully supervised planning, designing and execution of more than 125 projects. His knowledge and expertise in the field of Civil Engineering is manifested by many landmark projects in areas of Metro and Rail Infrastructure which include Metro in Mauritius, Metro Rail Projects in India, Roads under/over Bridges and various buildings etc. he has undertaken and successfully executed Read the full article

[sarkarimirror]

NBCC Bags order of Rupees 1000cr from Govt of Rajasthan and Uttarakhand

NBCC (India) Ltd has bagged orders worth Rs. 1,000 crores from Uttarakhand and Rajasthan State Governments for various civil projects. The projects include developing two rivers fronts in Dehradun along the rivers Rispana and Bindal and developing a new multi-storey housing complex for the Rajasthan Administrative Service (RAS) and Rajasthan Police Service (RPS) officers. In Uttarakhand, NBCC would work as an implementing agency and shall be responsible for planning, designing, construction, operation and management. The scope of work also includes building essential facilities such as retaining walls, check dams, storm water drain, utility provisions, road side green stretch, pedestrian walkways, bridges, etc. The entire project would be developed on a self-revenue generating model. Once the project gets completed, both NBCC & MDDA shall recoup the initially invested funds from the sale of its commercial proceeds. In Rajasthan, NBCC will construct 250 flats of the Type I category of approximate size of 2,500 sq. feet each. To recover the construction cost of flats that will be developed for officials, NBCC has been allowed to construct and sell two commercial blocks. “NBCC has earned laurels in executing projects of strategic importance. We feel proud to be nominated for developing two major river fronts in Uttarakhand and multi-storey housing complex for the Rajasthan Administrative Service (RAS) and Rajasthan Police Service (RPS) officers. We will deploy our best manpower to make these projects an iconic development for the entire country,” said Dr. Anoop Kumar Mittal, Chairman-cum-Managing Director. It’s worth mentioning that the company already has presence in Uttarakhand and has undertaken a number of projects namely, construction works in IIT Roorkee costing 231 Crore, Vidhan Sabha building at Gairsain costing 118.99 Crore, CRPF Quarters at Kathgodam costing 73 crore among others. The company has successfully completed construction works at Hemwati Nandan Bahuguna Garhwal University; ITBP at Mussoorie; and Infra development work for SIIDCUL, Sitarganj etc. Read the full article

[sarkarimirror]

NBCC secures Rs. 20 Billion order to build Convention Centres in Africa Nations

State-owned NBCC (India) Ltd has bagged an order worth 20 billion rupees to build high-capacity convention centres in nine different African countries namely Niger, Uganda, Malawi, Zambia, Liberia, Gambia, Burkina Faso, Togo, Gabon and is an initiative of the Ministry of External Affairs, Government of India. As per the order, NBCC will build nine Mahatma Gandhi Convention Centres (MGCC) in African nations in line with Hon’ble Prime Minister Shri Narendra Modi’s commitment to raise the level of support for the vision of a prosperous, integrated and United Africa. “We offer our services to extend and execute our Prime Minister’s vision. Such overseas projects will go a long way in establishing NBCC as a formidable PMC overseas as well,” said Chairman cum Managing Director, Dr. Anoop Kumar Mittal, NBCC (India) Ltd. At the third India-Africa Forum Summit (IAFS) held in December 2015, India had offered Africa a concessional credit of 10 billion dollars over five years and a grant assistance of 600 million dollars to create 100 capacity-building institutions, and developing infrastructure, public transport, clean energy, irrigation, agriculture and manufacturing capacity across Africa. NBCC, a Navratna CPSE already has offices in Oman, Maldives, Turkey, Mauritius, and Botswana. It has executed many diverse projects over the past 37 years in Mauritius, Nepal, Maldives, Libya, Iraq, Yemen, Turkey and Botswana. While executing these projects, NBCC plans to scout for further business in these countries. At the same time, building convention centres in overseas locations will enable Indian engineers and other employees posted there to get acquainted with modern construction technologies. Recently, NBCC secured projects at Mauritius which comprise construction of the new Supreme Court building valuing Rs 250 crore and 956 social housing units worth Rs 300 crore. Some other notable projects successfully completed include a 200-bed Indira Gandhi Memorial Hospital in Maldives, a 3,600 units Meer Housing Project in Turkey and Indira Gandhi Centre for Indian Culture in Mauritius. ABOUT NBCC NBCC (India) Ltd., is a blue-chip Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs (MoHUA), Govt. of India. 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. The company is listed on both the Stock Exchanges since 2012. With consolidated revenue of INR 6401 Crore, the company has been growing with a consistent upward trajectory of 20% CAGR since the last 5 years. 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 85,000 crore Order Book in hand. Read the full article

[sarkarimirror]

NBCC REGISTER 23% GROWTH IN FY 2016-17

NBCC, the state owned Navratna Enterprise, under the Ministry of Housing & Urban Affairs (HUA), Govt. of India, has registered approximately 23% Growth in FY 2016-17 as compared to the previous year. The Annual Financial Results for FY 2016-17, announced on 18th Sept. 2017, shows the Company posting a net Profit of Rs.355 Crores while its total Income has surged to Rs.6400 Crore. Speaking to the Media on the occasion subsequently, Dr. Anoop Kumar Mittal, Chairman-cum-Managing Director of the Company said that the Company had been consistently performing well and informed that the Order Book position of the Company as of now, stood at around Rs.75000 Crore and was likely to touch the figure of approximately 1 Lakh Crore in next few months.  Elaborating upon the business outlook, Dr. Mittal stated that the Company’s focus areas in the coming years would primarily be PMC based Redevelopment works. He said that NBCC already had huge work orders from the Government in respect of the redevelopment of properties which included Rs.5000 Crores East Kidwai Nagar Redevelopment which is nearing completion; Rs.2149 Crores Integrated Exhibition-cum-Convention Centre for ITPO; AIIMS Redevelopment Works of Rs.5828 Crores etc. In this context, he also shared details on recently secured huge works of redevelopment of Govt. properties valuing approximately Rs.25000 Crore located at Netaji Nagar, Sarojini Nagar and Nauraji Nagar in Delhi. DR. Mittal in this regard, added that this Nauroji Nagar Commercial Hub shall be named World Trade Centre, New Delhi, as NBCC has got the License from WTC New York recently. Giving an account of the Company’s latest strategic moves in business operations, Dr. Mittal spoke of NBCC’s recent acquiring of HSCL, a Central PSU under the Ministry of Steel, setting up of two more new subsidiaries, one NBCC International Ltd. to aggressively go for enhancing overseas stake and the other NBCC Environment Engineering Ltd. to pursue the cause of sustainability and environment. Dr. Mittal also informed the media that the Company had recently gone for stock split of each equity share of face value of Rs.10/- each into 5 equity shares of face value of Rs.2/- to make Company script more affordable for the common investors. In this regard, he also said that NBCC had paid interim dividend of 53 paisa per equity share of Rs.2/-  each (i.e. 26.5%)  and recommended final dividend of Rs.1.10/- per share (i.e. 55%). The Company’s Earnings Per Share (EPS) for the FY 2016-17 was Rs.3.90 as compared to Rs.3.19 in the previous year.   Mentioning about the future focus areas, Dr. Mittal stated that the Company in line with the Government’s vision for building New India, would extensively be putting its emphasis in initiatives like Skill Development, Housing for All including Affordable, AMRUT, Smart Railway Stations re-development all across the country, Real Estate Development in Tier II & III Cities, Swachh Bharat Campaign. To this end, he stated that NBCC’s New Technology adoption initiative for faster and sustainable construction would play the key role in realizing these dreams. In this context, Dr. Mittal gave a brief account of NBCC’s collaboration with renowned companies of the countries like USA for  importing 3D printing technology, Gremound (Hungary) and ETICS-BOLIX (Poland) to import energy efficient solutions and non-tectonic technology systems. Dr. Mittal concluded by saying that NBCC is now poised to make a huge leap forward by involving itself in the business activities that would ensure sustainable infrastructure development of the country in its bid to build a New India. Click to Post