State-owned construction major NBCC gets Rs 70 crore contract from Grid-India

NBCC Share Price NSE, BSE: State-owned NBCC (India) Ltd has bagged a Rs 70 crore project from the Grid Controller of India for executing interior works in the new corporate office in the national capital. Meanwhile, the shares of the company ended the day in red. The counter closed at Rs 158.15, loss of 0.85 per cent when compared to the previous close of Rs 159.50.

In a statement, NBCC said it has inked a memorandum of understanding with Grid Controller of India Ltd (Grid-India) for execution of interior, fit outs and other associated infrastructure works for their new corporate office at Ayurvigyan Nagar, New Delhi.

"The tentative value of works to be executed under this MoU is approximately Rs 70 crore," it added.

The MoU was signed by Alok Kumar, Senior General Manager, Grid-India and Mudit Bhatnagar, CGM (Engg), NBCC in the presence of S R Narasimhan, CMD, Grid-India; K P Mahadevaswamy, CMD, NBCC; B K Sokhey, Director (Finance), NBCC; Saleem Ahmad, Director (Projects), NBCC and other senior officials from both organizations.

Earlier, Grid-India, which is responsible for “National Load Dispatch”, had purchased this new office of around 61,000 sq ft from NBCC at approximately Rs 270 crore and has now entrusted NBCC for furnishing its office as well.

NBCC is into project management consultancy (PMC) and real estate business.