NBCC doubles up profit in third quarter; posts 57% rise in net

NEW DELHI .   National Buildings Construction Corporation Limited  has  reported 57 percent increase in its consolidated net profit at Rs 56.60 crore during third quarter as compared to net profit of Rs. 36.04 crore for the corresponding period in the previous year of its current fiscal.

 

Talking to the media, Dr Anoop Kumar Mittal, CMD , NBCC, said  we are  planning to increase the share of our Real Estate segment to 30% from the meagre 15% in the current fiscal," Dr Mittal added. He also specifically said that the Company had massive plans to aggressively tap the Real Estate market by constructing Residential and Commercial projects in every state and main cities of the Country.

 

"Real Estate projects to come up on land admeasuring 155 acres (approx.) already procured by NBCC at different locations would result in taking care of the bottom line of this fiscal, Dr Mittal informed. Also, as far as Redevelopment of Govt. properties are concerned, NBCC, is vigorously working on tapping such projects for all the State Governments, State PSUs etc. as well", Dr Mittal stated further.