FCC

NBCC secures Kerala State Housing for Rs 20 billion

2023-09-07

The National Buildings Construction Corporation (NBCC) made a significant announcement, revealing that it had been awarded a substantial order valued at Rs 20 billion by the Kerala State Housing Board (KSBH). This project encompasses the development of a 17.9-acre land parcel owned by the Kerala State Housing Board, situated at Marine Drive in Kochi, Kerala.

In a regulatory filing to the stock exchanges, NBCC officially stated, "NBCC has entered into a Memorandum of Understanding (MoU) with the Kerala State Housing Board for the development of a 17.9-acre land parcel owned by the Kerala State Housing Board at Marine Drive, Kochi, Kerala." The company also indicated that the timeline for executing this order has yet to be determined.

NBCC had already secured another contract worth Rs 200 million from the government of India. This contract pertains to the renovation and construction project at the Mint in Mumbai. The scope of work includes comprehensive planning, design, and execution of both structural and non-structural repairs within the Mint's factory premises in Mumbai, in addition to renovation activities and the construction of a transit camp at the Mint colony in Parel, Mumbai.

It is important to mention that this contract, in accordance with regulation 30 of SEBI, has been awarded domestically. It is classified as a Project Management Consultancy (PMC) contract and operates on a deposit work basis.