NBCC shares gain nearly 3% on receiving ₹460 crore order from Maharashtra government

Shares of NBCC (India) Ltd gained nearly 3% on Thursday after the company announced receiving an order worth nearly ₹460 crore from Maharashtra government.

In a filing to the stock exchanges, the state-owned construction company said that its wholly-owned subsidiary, HSCC (India) Ltd has secured a work order, for a project worth ₹459.7 crore, from the Maharashtra government.

The work order pertains to the construction of a 600-bed general hospital, 250-bed cancer hospital, and 250-bed super speciality hospital in Kolhapur, the state-owned company said. NBCC, in a separate exchange filing, announced signing a memorandum of association (MoU) with IFCI Ltd for "planning, designing and execution of infrastructure projects as well as repair/renovation works for IFCI's properties on pan-India basis”.

The value of works to be executed under this MoU is approximately ₹150 crore.

The central public sector undertaking (PSU) also conducted an e-auction of nearly 61,000 sqft of commercial built-up area at New Delhi's Ayurvigyan Nagar on Thursday. The total deal, valued at ₹ 272.68 crore, has been secured by M/s Grid Controller of India Ltd, a PSU under the Ministry of Power. The project has a base sale price of ₹36,000 square feet.

The commercial space sold through the e-auction is a part of the redevelopment project executed by NBCC on behalf of AIIMS New Delhi.

Proceeds from the sale process will be used for the construction of houses for faculty and staff members of AIIMS New Delhi, NBCC informed the stock exchanges.

Shares of NBCC Ltd closed 1.85% higher at ₹134.65 apiece on NSE.