NBCC witnessed an intraday surge in its stock on February 29 after successfully conducting an e-auction for approximately 61,000 sqft of commercial built-up area in Ayurvigyan Nagar, New Delhi.
The basic sale price for the project stands at Rs 36,000 per sqft, with the total deal valued at Rs 272.68 crore. The Grid Controller of India Ltd, a PSU under the Ministry of Power, participated in the e-auction and secured the deal.
The commercial space sold through this e-auction is part of a redevelopment project undertaken by NBCC for AIIMS Delhi. The proceeds generated from the sale will be utilized for constructing residences for faculty and staff members of AIIMS Delhi.
Dubbed as “Grande Rue,” the project includes three levels of basement parking capable of accommodating 150 cars and comprises ground plus three storeys of commercial built-up spaces.
In the quarter ended December 2023, NBCC reported a significant 60 percent increase in net profit, reaching Rs 110.74 crore.
Earlier this month, the company received in-principle approval from the Greater Noida Authority for developing unused and purchasable FAR in support of its existing projects with Amrapali, totaling Rs 10,000 crore.
Additionally, NBCC secured three orders worth Rs 369.05 crore during the same period.
