NBCC enters into MoU with Board of Mumbai Port Authority for development of GCO complex

State-owned NBCC (India) on Wednesday, December 24, said that it has entered into a Memorandum of Understanding (MoU) with the Board of Mumbai Port Authority for the development of the CGO Complex on 25 acres of Mumbai Port's land.

Under the MoU, signed on Tuesday, December 23, NBCC will serve as the project management consultant for the works.

“Mumbai Port Trust vide there letter dated November 26, 2025, accorded in principal approval to engage NBCC as executing agency on Agency Charge @ 7% of the project cost (excluding GST) for Planning, Designing, Execution and Supervision of (i) CGO Complex, (ii) Iconic building, (iii) Multi level car parking, (iv) International Convention Centre and (v) Maintenance of buildings, sheds, wharfs. storage area, roads, etc,” the company said in a regulatory filing.

In a separate filing on December 24, the firm stated that it bought nearly 15,000 sq ft of land in Dubai for AED 15 million (or ₹37 crore) to develop a mixed-use project, as part of its plan to expand the real estate business overseas.

It added that it has taken a step in the international market by starting its overseas real estate operations in Dubai through NBCC Overseas Real Estate LLC, a wholly-owned subsidiary.

"The NBCC Overseas Real Estate LLC bought a prime land parcel of area 14,776.80 sq feet worth AED 15 million in Dubai Mainland for mixed-use development," the company said.

NBCC is into project management consultancy and real estate businesses.

Stock performance

Shares of NBCC closed 0.15% lower to ₹116.10 apiece on the National Stock Exchange (NSE) on Wednesday. However, the developments were announced after the market closed.

The scrip surged nearly 6% in the past week but lost about 0.3% over the month. On a year-to-date basis, it has gained approximately 25%.

While the stock touched a 52-week high of ₹130.70 on June 9, 2025, it reached a year’s low of ₹70.80 per unit on March 3, 2025.

NBCC has a total market capitalisation of ₹31,347 crore, as of December 24, 2025, according to data on the NSE.