Naidu asks NBCC to forge more partnerships with States

Naidu asks NBCC to forge more partnerships with States

06/10/2016 17:11

State-run National Buildings Construction Corporation (NBCC) on Thursday presented a dividend Cheque of Rs.108 cr for 2015-16 to minister of urban development M.Venkaiah Naidu.

Complimenting NBCC for sustained increase in turn over and profits over the last few years, Naidu asked the company management to further expand and diversify its business profile by forging partnerships with State Governments and other agencies.

The minister also directed the management to immediately initiate action on seven redevelopment projects in Delhi entailing an investment of about Rs 35,000 cr, recently approved by the Union Cabinet. Naidu discussed in detail the progress of ongoing projects and future initiatives of NBCC.

A.K.Mittal, Chairman and Managing Director of NBCC informed the minister that the company has acquired new project orders for Rs 17,516 cr during 2015-16 and with total work orders of over Rs 70,000 cr, NBCC is the second largest construction company in the country. The company has declared a total dividend of Rs 120 cr for 2015-16 of which the Government’s share was Rs 108 cr.

NBCC has recorded the highest revenue of Rs 5,838 cr during 2015-16, marking an increase of 32 per cent over the previous fiscal.

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