Shares of NBCC Ltd rose 1% to touch a day’s high of Rs 105.02 on 25th August, after the Rajasthan government awarded it a contract worth around Rs 3,700 crore to design, build, and market the Rajasthan Mandapam Convention Centre along with other urban development and innovation projects.

NBCC Ltd announced that it has secured projects worth around Rs 3,700 crore from the Rajasthan government. These projects include the Rajasthan Mandapam Convention Centre, a Global Capability Centre (GCC) tower, an IT tower, luxury hotels, and new commercial and residential infrastructure. They will be developed on 95 acres of RIICO land, located along the B2 Bypass and Tonk Road.

The convention centre will be built on a 25-acre land parcel with over 2 lakh square metres of built-up area. It will have a seating capacity of 7,000–7,500 and is designed to be a world-class facility.

Earlier this month, NBCC reported strong Q1 results. Its consolidated net profit rose 26.3% to Rs 132 crore from Rs 104.6 crore in the previous year. Revenue grew 11.6% to Rs 2,391 crore from Rs 2,142.5 crore, while EBITDA increased 20.3% to Rs 110 crore. Margins also improved to 4.6% from 4.3% in the same quarter last year.

At 2:51 PM, the shares of NBCC Ltd were trading 1.80% higher at Rs 2,749 on NSE.

Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!