NBCC Arm Wins Rs 1,363 Crore Order From Employee State Insurance Corp

NBCC was founded in 1960 as a civil engineering enterprise of the Government of India. With its headquarters located in Delhi, the company is currently a Navratna CPSE and has become the undisputed leader in the construction industry thanks to its capabilities, innovative approach, adherence to the highest standards of quality, timely delivery, and committed workforce.

NBCC secured projects worth Rs. 1363 crore

Hindustan Steelworks Construction Ltd., a wholly owned subsidiary of NBCC India Ltd., received two orders from the Employees State Insurance Corp. of the Government of India totalling Rs 1,322.48 crore.

The construction of a 500-bed ESIC hospital in Manesar (Gurugram), Haryana, is part of the order wins, the company said in an exchange filing on Tuesday. The project is valued at Rs 679.79 crore. Additionally, the company was given a deposit-mode order to build 500 more beds, bringing the total number of beds at the ESIC medical college and hospital in Faridabad to 1,150 beds. The contract is worth Rs 642.69 crore. 

What was said by NBCC?

In a separate statement, NBCC stated that the Odisha government’s ST & SC Development, Minorities & Backward Classes Welfare Department had given it an order for Rs 41 crore. The Shansuli Ashram School in Jaipatna, Kalahandi, will be upgraded as part of this order, and a hostel will be built at Bijay Kumar Academy, Government High School, Soharia, Bograi, Balasore. The Government (SSD) High School in Dhamanpur, Kalahandi, will also be upgraded, costing Rs 22 crore.

Other NBCC projects

A campus development contract worth Rs 1,000 crore was signed earlier this month by Gondwana University and HSCC. However, NBCC was awarded a Rs 50 crore contract by the Odisha government to build an integrated sports complex. Constructed in Dhamnagar, Bhadrak, Odisha, the project was commissioned by the “Sports and Youth Service Department.”

The stock of NBCC is down over 1% today as well

The stock of NBCC (India) Ltd. is currently trading at Rs. 95.37 per share, with a low of Rs. 92.94, where a strong rally is evident due to NBCC’s acquisition of a project valued at Rs. 1,363 crore.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.