Shares of State owned NBCC (India) Limited were trading in the red and almost 2% lower on 3 November despite the company signing memorandums of understanding (MoUs) with various departments of the Bihar government to undertake four redevelopment projects in Patna. 

The projects are expected to generate around Rs 5,152 crore through property sales and leases, while the estimated development cost stands at Rs 2,000 crore. The agreements were signed on 2 November 2026 in the presence of Bihar Chief Minister Samrat Choudhary and NBCC Chairman and Managing Director K. P. Mahadevaswamy.

The first two projects involve the redevelopment of Bihar State Housing Board colonies at Sector 5, also known as TV Tower, and Sector 6 at Bahadurpur.

Together, these residential developments will provide 3,331 flats for different income groups, including economically weaker sections and middle income and higher income households. The projects will also include shopping complexes, clubhouses, gyms, community facilities and office spaces.

The third project involves developing Bihar’s first modern IT Tech Park for the Department of Information Technology at Gardanibagh. The fourth project will include hotels and commercial spaces at the Water Resources Department site on Bailey Road.

An important feature of the agreement is that all four projects will be developed on a self financing basis without financial assistance from the Bihar government.

NBCC will charge a project management consultancy fee of 6% and a marketing fee of 1.25%. The company will share further project details at a later stage.

The projects could strengthen NBCC’s presence in the real estate and infrastructure development sectors. The estimated proceeds of Rs 5,152 crore also indicate the potential scale of the redevelopment programme.

However, actual revenue will depend on project execution, property sales, leasing activity and market demand.

At 12:36 pm, the shares of NBCC (India) were trading 1.85% lower at Rs 74.72 on NSE.

Tired of missing hot stocks? Tradz by EquityPandit provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!