Shares of NBCC (India) Ltd surged 3% on Thursday, 20 November, after the company announced securing a work order worth Rs 2,966 crore from NMRDA. 

According to the deal, the company will provide project management services for the development of Naveen Nagpur for NMRDA -Phase 1. 

Furthermore, NBCC has sold 609 residential apartments in Aspire Leisure Valley and Aspire Centurian Park in Noida (W) through an e-auction, totalling over Rs 1,069.43 crore. According to the filing, NBCC will get a marketing charge of 1%of the sale value.
 
As directed by the Supreme Court, the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was established to complete Amrapali’s stalled projects through the NBCC.

The state-owned company was tasked with completing 38,000 apartments and handing them over to prospective buyers. The estimated investment for completing these units was roughly Rs 8,300 crore.

Meanwhile, Delhi-based AU Real Estate said that it has acquired the selling rights to Aspire Leisure Valley (Phase 2) and Aspire Centurian Park from NBCC.

“The combined transaction value stands at Rs 1,069 crore, covering a total of 609 residential units,” the realty firm said in a statement.

The company acquired 462 units in the ‘Aspire Leisure Valley’ project for Rs 696.20 crore and 147 units in the ‘Aspire Centurian Park’ project for Rs 373.23 crore.

AU Real Estate Director Ashish Agarwal announced the inauguration of the ‘Aspire Leisure Valley’ project at an introductory price of Rs 7,979 per sq ft.
 
NBCC (India) is a public-sector undertaking (PSU) under the Ministry of Housing and Urban Affairs, Government of India.  Established in 1960, NBCC specialises in project management, construction, and infrastructure development. It operates in a variety of sectors, including residential, commercial, institutional, and industrial infrastructure.

At 1:58 pm, the shares of NBCC were trading 2.48% higher at Rs 115.84 on NSE.

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