NBCC Successfully Auctions 560 Flats in Greater Noida for Rs 1,153 Crore
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Synopsis
On April 11, NBCC (India) Limited announced the successful sale of 560 residential flats in Greater Noida for Rs 1,153.13 crore through an e-auction. This follows a previous sale of 1,185 flats earlier in the week, showcasing the company's expanding project portfolio and growth momentum.
Key Takeaways
- NBCC sold 560 flats in Greater Noida for Rs 1,153 crore.
- Executed sale via e-auction, marking a significant achievement.
- Company earning a 1% marketing fee on total sale value.
- NBCC expanding its project portfolio with new contracts.
- Shares rose by 3.41% following the announcement.
New Delhi, April 11 (NationPress) NBCC (India) Limited announced on Friday the successful sale of 560 residential flats at Aspire Leisure Park located in Greater Noida (West), accumulating a total sale value of Rs 1,153.13 crore.
The state-owned construction giant executed the sale via an e-auction, as detailed in a filing to the stock exchange.
As part of its standard business operations, NBCC will receive a 1 percent marketing fee based on the sale's total value.
This significant e-auction comes on the heels of a previous successful sale earlier this week, where the company sold 1,185 flats at Aspire Dream Valley Phase-III in Greater Noida for Rs 1,504.69 crore.
NBCC is also broadening its project portfolio. Recently, the Navratna public sector enterprise under the Ministry of Housing and Urban Affairs secured new contracts for various construction and renovation projects.
These projects encompass a multistorey court building in Gudivada, Andhra Pradesh worth Rs 46.69 crore, a court complex in Bhimavaram valued at Rs 72.17 crore, and the renovation of the TEC Building in New Delhi for Rs 2.04 crore.
Furthermore, on April 7, NBCC signed a Memorandum of Understanding (MoU) with RailTel Corporation of India to collaboratively develop data centre projects across India and internationally over the next five years.
In response to this development, NBCC's shares saw a positive uptick, rising by 3.41 percent during the trading session to reach Rs 90 on Friday on the Bombay Stock Exchange (BSE).
Over the last 12 months, the stock has experienced a slight growth of 0.04 percent, although it has seen a decline of 4.14 percent this year to date.
In its most recent financial disclosures, NBCC reported a 17 percent increase in revenue to Rs 2,827 crore in the third quarter (Q3) of FY25, compared to Rs 2,423.5 crore in the same quarter last year (Q3 FY24).
The company’s net profit surged by 25 percent to reach Rs 138.5 crore, up from Rs 110.7 crore a year prior, indicating a robust growth trajectory.
