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NBCC (India) Ltd., a public sector undertaking (PSU), has secured a substantial influx of new projects, totaling Rs. 182.50 crore. The company's recent successes stem from contracts awarded by Oil India and the Indian Statistical Institute Delhi Centre, Delhi. These projects encompass a range of construction and infrastructure endeavors, demonstrating NBCC's expertise and market position within the Indian construction sector.
The most prominent project secured by NBCC is the construction of two multi-story residential buildings, a G+6 office building, and a recreation center complete with auditorium facilities at the Oil Pipeline Headquarters (PHQ) in Guwahati, Assam. This project, valued at Rs 180 crore, represents a significant investment by Oil India in its infrastructure and highlights NBCC's ability to undertake complex and large-scale construction projects.
Beyond the Oil India project, NBCC has also been awarded a contract for the rehabilitation of the Platinum Jubilee Hostel at the Indian Standards Institute (ISI), Delhi Centre in New Delhi. This project, valued at Rs 2.50 crore, demonstrates NBCC's commitment to infrastructure maintenance and improvement. The company's ability to secure contracts across diverse sectors, from oil and gas to education and research institutions, underscores its versatility and adaptability within the Indian market.
Further demonstrating its financial strength and commitment to shareholder value, NBCC's board of directors has recommended the issuance of bonus equity shares in a 1:2 ratio. This decision, made on the record date of 7 October 2024, will see eligible shareholders receive one bonus share for every two shares they hold. This move reflects NBCC's confidence in its future prospects and its desire to reward its shareholders for their continued support.