Shares of NBCC (India) Ltd surged 4% on Thursday, 27 March, after the company announced signing a Memorandum of Understanding (MoU) for a total consideration of Rs 25,000 crore with Mahatma Phule Renewable Energy and Infrastructure Technology Limited.
This collaboration focuses on executing consultancy, fee-based, EPC, and redevelopment projects, covering the entire lifecycle from concept to commissioning.
For the first time outside Delhi, NBCC will enter Maharashtra’s redevelopment sector through this partnership. The joint effort with Mahatma Phule Renewable Energy will drive key infrastructure projects across the state, including:
- Cluster development projects under Thane Municipal Corporation
- Data centres and renewable energy initiatives
- Slum rehabilitation projects in the Mumbai Metropolitan Region (MMR)
- Residential developments under Pradhan Mantri Awas Yojana (PMAY)
These projects will be rolled out in phases over the next three to five years, promoting sustainable urban development and affordable housing, aligning with India’s national vision. The Memorandum of Understanding (MoU) aims to leverage the expertise of both entities, enhancing client acquisition and service delivery capabilities for long-term impact.
NBCC (National Buildings Construction Corporation): A leading Public Sector Undertaking (PSU) engaged in construction and real estate, spearheading infrastructure projects across India and globally.
Mahatma Phule Renewable Energy and Infrastructure Technology Ltd: A subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC) under the Government of Maharashtra. The company focuses on renewable energy projects, primarily solar power parks, including substations and transmission networks under various ownership models.
At 3:30 pm, the shares of NBCC closed 2.59% higher at Rs 83.17 on NSE.
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