NBCC gains on sale of commercial space in New Delhi for Rs 272.68 crore

The commercial space sold through e-auction is a part of redevelopment project being executed by NBCC for AIIMS Delhi.

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Shares of NBCC traded higher intraday on February 29 after the company executed the e-auction of approximately 61,000 sqft commercial built-up area at Ayurvigyan Nagar in New Delhi.

Basic sale price of the project is Rs 36,000 per sqft and total deal is valued at Rs 272.68 crore.

Grid Controller of India Ltd (a PSU under the Ministry of Power) participated in thee-auction and secured the deal.

The commercial space sold through e-auction is a part of redevelopment project being executed by NBCC for AIIMS Delhi.

The proceeds received from the sale will be utilised for construction of houses for faculty and staff members of AIIMS Delhi.

The project, popularly known as “Grande Rue” has 3 levels of basement adequate for parking of 150 cars and consists of ground+3 storeys of commercial built up spaces.

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In an another development, a wholly owned subsidiary HSCC (India) has been awarded the work of 600 Bedded General Hospital, 250 Bedded Govt. Of 459.70 Cancer Hospital, 250 Bedded Super Maharashtra Specialty Hospital at Kolhapur, DMER, Maharashtra. The approximately value of the order is Rs 459.70 crore.

The comapny in the quarter ended December 2023 posted 60 percent jump in its net profit at Rs 110.74 crore.

Earli in this month, the company obtained the in-principle approval of Greater Noida Authority for the development of unused and purchasable FAR in furtherance of existing projects of Amrapali valuing Rs 10,000 crore.

Also, the company won three orders worth Rs 369.05 crore.