NBCC revises project cost to Rs 1,942 cr to build various land parcels in national capital

 State-owned NBCC, which entered into an MoU with DTC last year for the development of various land parcels in the national capital, on Tuesday said that the project cost has been revised upwards to Rs 1,942 crore including its fee.

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On October 28 last year, NBCC had informed about an MoU (Memorandum of Understanding) between NBCC (India) Ltd and Delhi Transport Corporation (DTC) for the development of various land parcels at Shadipur colony, Vasant Vihar depot, Hari Nagar Depot, and Hari Nagar colony.

"This is hereby informed that total estimated cost of construction for the said work has increased to Rs 1,942 crore including the NBCC fee out of which Rs 1,000 was sanctioned to NBCC in FY 2020-21," NBCC said in a regulatory filing.

NBCC said an additional business amounting to Rs 942 crore has accrued to the company.