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.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
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.
Read Also : President Confers Swachh Survekshan 2024–25 Awards; Indore Tops Cleanliness Rankings for Eighth Year