NBCC Wins Rs 55.02 Crore Project from Indian Overseas Bank

New Delhi:  State-owned construction major NBCC India Limited has secured a new work order worth approximately Rs 55.02 crore from Indian Overseas Bank in the normal course of its business operations.

According to the company’s regulatory filing, the project involves the planning, designing, execution and successful handover of the new Regional Office building of Indian Overseas Bank at Raipur. The contract has been awarded as part of NBCC’s project management consultancy operations.

The order has been awarded by a domestic entity and will be executed within India. The project size stands at around Rs 55.02 crore excluding GST, further strengthening NBCC’s order book in the infrastructure and construction segment.

NBCC confirmed that the project does not fall under related party transactions and that neither the promoter nor the promoter group has any interest in the awarding entity. The company also stated that the contract is part of its regular business activity.

Details of the development have been disclosed to the stock exchanges and are also available on the company’s official website.