NBCC Signs MoU with MTNL to Develop Prime Land in New Delhi
The project, estimated to be worth around Rs 1,600 crore, seeks to convert the land into a modern residential and commercial space.
NBCC (India) Limited and Mahanagar Telephone Nigam Limited (MTNL) have entered into a Memorandum of Understanding (MoU) to jointly develop a substantial land parcel in New Delhi.
The project, estimated to be worth around Rs 1,600 crore, seeks to convert the land into a modern residential and commercial space. Both organizations will pool their resources and expertise for this venture.
In an exchange filing, the construction major informed that the MoU pertains to the development of a 13.88-acre land parcel owned by MTNL on Pankha Road, New Delhi.
Read Also : REC Limited disburses Rs 90,955 crore loan in H1 FY25; Green loans up by 92.68% to Rs 11,297 croreEarlier, NBCC had also signed memorandum with RITES. This alliance aimed to explore and execute a broad spectrum of consultancy, fee-based projects, and engineering, procurement, and construction (EPC) contracts. The latest collaboration with MTNL further strengthens NBCC’s position in the infrastructure development sector.
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