Civil Construction Stock, NBCC plunges over 4.5% despite bagging order worth Rs 3500 crore in Lucknow
Civil Construction Stock, NBCC plunges over 4.5 despite bagging order worth Rs 3500 crore in Lucknow
State-owned Infrastructure Developer, NBCC (India) Limited has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd. Under this agreement, NBCC will act as the project management consultant for the mixed land use development of Poorvi Vihar, Lucknow, covering approximately 588 acres.
The initial phase involves planning, designing, and developing an encumbrance-free 50-acre site. The estimated value of this phase is Rs 3,500 crore. The project will be executed on a “deposit on work” basis. NBCC will charge agency fees at 10% of the actual project cost, plus applicable GST and other taxes.
The Scope of Work is the responsibilities including possession, planning, and design for the assigned land.
The shares of the NBCC are trading lower by 4.8% at Rs 80.42 with dividend yield at 0.52%. While the market capitalization is standing at Rs 21.71K crore.
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