Shares of NBCC (India) Ltd ended flat on 9th September after touching a day’s high of Rs 103.90, following the company’s announcement that it had signed a memorandum of understanding with the Nagpur Metropolitan Region Development Authority (NMRDA) to develop the planned business district, Naveen Nagpur.

NBCC has partnered with NMRDA to develop a smart business district, Naveen Nagpur, spread over 1,710 acres. The project includes a 1,000-acre business district and 710 acres for future expansion.

NBCC will act as the project management consultant, providing integrated infrastructure such as underground utility tunnels, a district cooling system, automated waste collection, and a segregation plant. The development will feature commercial spaces for startups, MSMEs, IT companies, corporate offices, as well as residential and mixed-use areas.

The MoU was signed in the presence of Maharashtra CM Devendra Fadnavis, NBCC CMD K.P. Mahadevaswamy, and NMRDA Commissioner Sanjay Meena. The project aims to position Naveen Nagpur as an International Business and Finance Centre (IBFC).

For the June quarter, NBCC reported a consolidated net profit of Rs 132 crore, up 26.3% from Rs 104.6 crore last year, driven by revenue growth and better operating performance. Revenue from operations rose 11.6% to Rs 2,391 crore from Rs 2,142.5 crore in Q1 of the previous financial year.

At 3:30 PM, the shares of NBCC ended 0.16% higher at Rs 102.70 on NSE.

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