June 24, 2017    Follows us:Subscribe via RSS
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NBCC, a Navratna CPSE under the Ministry of Urban Development (MoUD), Govt. of India, has signed Memorandum of Understanding (MoU) for the FY 2017-18 with its Ministry today. The annual MoU has been signed by Shri Rajiv Gauba, IAS, Secretary (UD), Govt. of India, on behalf of the MoUD and Dr. Anoop. K. Mittal, CMD, NBCC, on behalf of NBCC.

The MoU outlines targets on various performance parameters for the Company during the year. While Revenue from operations has been targeted at Rs.6850 Crore, the PAT has been projected at Rs. 261.43 crore (PBT Rs.304.83 crore).

The Company during the year, plans to secure new works worth Rs.8600 Crore. Further, this year’s MoU of NBCC has laid specific emphasis on capacity utilisation, aiming to complete 8 million sq.ft. of structures during the Financial Year. Among the milestones targeted to be achieved include Completion of 36 Towers at the Mega Redevelopment Project of East Kidwai Nagar; Demolition of – all 628 existing Residential Quarters at Nauroji Nagar, 600 existing Residential Quarters at Sarojini Nagar and 500 existing Residential Quarters at Netaji Nagar, New Delhi which all are part of integrated Redevelopment of the three colonies.

This apart, the Company also targets demolition of 75,000 Sqm. area out of total 1,26,829 Sqm. area and Construction of works valuing Rs 250 Crore in its ITPO Project, Pragati Maidan, New Delhi during this FY 17-18. The important projects that the Company plans to complete include IIT Roorkee (UK), Trade Facilitation Centre and Crafts Museum, Varanasi (UP), ESIC Medical College and Hospital at Mandi (HP) and VNIT Nagpur (Maharashtra).

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