NBCC Ltd’s shares surged nearly up to 6% during the early trading hours on December 14 after the Navratna public sector undertaking (PSU) announced that it had secured a Rs 1,500 crore order from the National Cooperative Development Corporation (NCDC).

Shares of NBCC hit a 52-week high of Rs 84.75, up 5.7% from the previous closing price on the National Stock Exchange (NSE). At 11:05 am, the stock was trading 3.62% higher at Rs 83.10. 

According to an exchange filing dated December 13, NBCC has secured a project management consultancy contract from NCDC and the Primary Agriculture Cooperative Society (PACS) in various states for the development of 1,469 warehouses and other agriculture infrastructure under the World’s Largest Grain Storage Plan in Cooperative Sector for a total consideration of Rs 1,500 crore.

NBCC would engage in project management and offer consultancy on Engineering Procurement and Construction (EPC) mode. The estimated time for the completion of the project is yet to be decided. 

NBCC (India) operates through three segments: Project Management Consultancy (PMC), Real Estate Development and EPC. 

The company inked a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of India (ICAI) in November for the work relating to planning, designing, and execution of ICAI’s buildings and renovation works at various locations in India as deposit work on a turnkey basis.