"NBCC Secures Rs. 23,500 Crore in New Work Orders for FY 2023-24"

State-owned construction firm NBCC Ltd announced on Tuesday that it secured projects worth Rs. 23,500 crore during the 2023-24 fiscal year. In a statement, the company highlighted the significant business gains, reporting a record of Rs. 23,500 crore in new works on a consolidated basis, with Rs. 18,400 crore on a standalone basis. This represents a substantial increase from the previous fiscal year's figures of Rs. 6,700 crore (consolidated) and Rs. 4,225 crore (standalone).

Among the notable projects secured during this fiscal year, NBCC received additional FAR (Floor Area Ratio) works in Amrapali worth about Rs. 10,000 crore. The company also secured its first redevelopment project outside Delhi, a Rs. 2,000 crore contract from the Kerala State Housing Board (KSHB).

NBCC Chairman and Managing Director K P Mahadevaswamy emphasized the company's strengths in construction and infrastructure, especially in redevelopment and land monetisation. "With a robust order book and a strategic focus on redevelopment and land monetisation, 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.

NBCC's diversified portfolio includes new projects in the agri-infrastructure sector through the construction of grain storage under the "World's Largest Grain Storage Plan," with an approximate value of Rs.1,500 crore. The company also secured redevelopment and modernization projects for Government of India Presses through a self-financing model at Mayapuri, Rashtrapati Bhawan, Nasik, and Kolkata, totaling Rs. 750 crore.

Additionally, the firm obtained various infrastructure projects from SAIL Bhilai, Bokaro, Durgapur, and Burnpur, amounting to Rs. 580 crore. During the 2023-24 fiscal year, NBCC awarded works worth about Rs. 9,800 crore across different projects, reinforcing its robust position in India's construction and infrastructure sector.

BS