NBCC (India) bags contract for developing Satellite Township
The contract involves developing a satellite township covering 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar, Jammu and Kashmir (J&K).
State-owned NBCC (India) shares soar up to 8.67% to Rs 183.55 after the company announced that it has bagged a contract worth Rs 15,000 crore from Srinagar Development Authority.
The contract involves developing a satellite township covering 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar, Jammu and Kashmir (J&K).
The value of this order is approximately 45% of the company's current full market capitalization, which is currently Rs 33,048 crore.
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NBCC (India) majorly involves in three major segments namely project management consultancy, real estate, and engineering procurement & construction.
The company's consolidated net profit climbed 24.52% to Rs 141.49 crore on a 42.86% jump in revenue from operations to Rs 3,936.98 crore in Q4 FY24 over Q4 FY23.
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