NBCC signs ₹3,700 crore MoU with Rajasthan Government for project near Jaipur airport; stock jump 2% intraday

NBCC (India) shares were in focus today after the company signed a memorandum of understanding (MoU) with the Rajasthan State Industrial Development and Investment Corporation (RIICO) for the development of the prestigious Rajasthan Mandapam and allied infrastructure projects in Jaipur.

This project is valued at around ₹3,700 crore and will be developed near Jaipur International Airport, Tonk Road, Jaipur. As part of the MoU, NBCC (India) Limited, which is appointed as the executing agency, will lead the transformation of a 95-acre prime land parcel through master planning, architectural design, engineering, construction and international-standard marketing.

The project will feature the Rajasthan Mandapam Convention Centre,, Unity Mall and associated commercial and cultural infrastructure, positioning Jaipur as a premier destination for global conventions and retail innovation.

RIICO will provide NBCC an initial interest-free advance of ₹50 crore, while NBCC will mobilise the remaining funds through the sale and lease of built-up spaces and planned plots. NBCC will implement a robust, self-financing model and leverage public financial institutions as needed for uninterrupted operations.

Following the announcement, NBCC (India) shares rose 2.4% intraday on NSE, with a day high of ₹110.47 apeice. However, the stock saw profit booking later. As of 11:00 am, NBCC shares are down 1.3% and trade around ₹106.3 per share. So far this year, NBCC (India) shares have gained over 14%.

NBCC (India) Q1 results

In the June quarter of FY26, NBCC posted strong earnings growth as its consolidated net profit rose 26.3% YoY to ₹132 crore, while revenue from operations stood at ₹2,391 crore, marking an 11.6% YoY rise compared to ₹2,142.5 crore in Q1 of the previous financial year.