Shares of NBCC (India) Ltd fell 1% after touching a day’s high of Rs 95.39 on 27th February, even as the company said it has received work orders worth approximately Rs 775.27 crore from the Delhi Development Authority (DDA) for the comprehensive redevelopment of staff quarters in New Delhi.

The orders include the redevelopment of staff quarters at Old Rajinder Nagar, worth Rs 437.79 crore. The Safdarjung Development Area is worth Rs 337.48 crore, excluding marketing fees. Both projects will be executed under the project management consultancy (PMC) model.

The redevelopment will follow a self-sustainable approach. Part of the built-up area will be sold to fund the project, and the remaining space will be used for DDA staff housing. The Old Rajinder Nagar project comprises 117 units with an estimated built-up area of about 99,635 sq m. In comparison, the Safdarjung project comprises 152 units with an estimated built-up area of about 65,925 sq m. Final approvals will be based on a detailed survey and DPR submission.

NBCC clarified that the contracts are not related-party transactions.

Separately, the company recently secured a Rs 76.27 crore order from Dharanidhar University in Odisha. This order is for the construction of an academic block, a hostel, and related infrastructure under the PMC model.

At 12:02 PM, shares of NBCC were trading 0.80% lower at Rs 93.31 on the NSE.

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