272% return in 1 Year: Navratna PSU in focus after Rs 710 crore contract - Check detail

NBCC Share Price NSE, BSE: Shares of multibagger PSU stock NBCC are in focus today as the state-owned company has bagged a Rs 710 crore. The counter opened in green at Rs 183 against the previous close of Rs 181.75 on the BSE. Last seen, the counter was trading at Rs 182.25. The scrip is trading in green even as the Sensex declined 134.27 points to 79,514.65 in early trade and the Nifty dipped 38.65 points to 24,308.35.

NBCC Share Price History

The counter has gained over 270 per cent in one year and 443 per cent in two years. So far this year, the counter has already gained over 12 per cent.

NBCC in News

The company has bagged a Rs 710-crore contract to develop two land parcels at Jhansi in Uttar Pradesh. NBCC will provide project management and marketing consultancy services.

In a statement, the company said it has recently signed a Memorandum of Understanding (MoU) with Jhansi Development Authority (JDA) to undertake development of land parcels in Jhansi.
The MoU was signed by Alok Yadav, Vice Chairman, JDA, and Pradeep Sharma, Executive Director, NBCC.

Following the signing of the agreement, a strategic meeting was held with Bimal Dubey, Commissioner/Chairman, JDA, to discuss the project's scope and implementation strategy.

The project encompasses the construction of two major land parcels in Jhansi, with an approximate value of Rs 710 crore.
The two identified land parcels include a land parcel of 12.28 acres on Jhansi-Kanpur Highway, Jhansi and another land parcel of 1.07 acres in the medical compound, College Road, Kanpur Road, Jhansi.

As per the agreement, NBCC will be responsible for the comprehensive planning, design, construction and marketing of the developed areas.
The development will be executed on a revenue generation model.

NBCC's role will include providing project management consultancy (PMC) services and marketing consultancy services.

With agency inputs