NBCC and Mumbai Port Authority Signs MOU for the Development of CGO Complex

State-owned NBCC (India) Ltd has signed an agreement with the Mumbai Port Authority to undertake redevelopment of select port land parcels in Mumbai.  

The move aligns with the government’s broader strategy of monetising underutilised public assets while supporting urban infrastructure and real estate development in land-constrained cities. 

Project Scope and Execution Framework 

Under the agreement, NBCC will serve as the development and project management partner for the redevelopment exercise.  

NBCC as executing agency on Agency Charge @ 7% of the project cost (excluding GST) for Planning, Designing, Execution and Supervision of (i) CGO Complex, (ii) Iconic building, (iii) Multi level car parking, (iv) International Convention Centre and (v) Maintenance of buildings, sheds, wharfs. storage area, roads etc. 

The redevelopment will be carried out in phases and is expected to involve mixed-use development, including commercial, residential and supporting infrastructure, in line with applicable urban planning norms. The model is structured to allow the port authority to unlock land value without committing upfront capital. 

Urban Development and Strategic Significance 

Mumbai Port land is among the most strategically located land banks in the city, with proximity to major commercial districts and transport corridors. Redevelopment of these parcels is expected to ease land supply constraints, improve land utilisation and support infrastructure modernisation in Mumbai. 

For NBCC, the agreement adds to its portfolio of large-scale government-led redevelopment projects. The company has executed similar assignments involving land monetisation and urban renewal for central and state authorities across India. 

Read More: NBCC Shares Rise for 3rd Straight Session; Up 5% After ₹289 Crore Order Wins! 

NBCC Share Price Performance  

As of December 24, 2025, NBCC share price closed at ₹116.10 per share, reflecting a decline of 0.15% from the previous closing price.  

Conclusion 

The Mumbai Port land redevelopment agreement strengthens NBCC’s role in high-value urban transformation projects and reinforces its position as a preferred execution partner for public asset monetisation. As the project moves into implementation, it is expected to contribute to sustainable urban development while creating long-term revenue visibility for NBCC and the port authority. 

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