NBCC Share Price in Focus; MoU with RIICO for ₹3,700 Crore Rajasthan Mandapam Project

NBCC (India) Ltd has signed a Memorandum of Understanding with RIICO for the ₹3,700 crore Rajasthan Mandapam project near Jaipur International Airport. The project will feature a world class convention centre, Unity Mall, and commercial infrastructure.

NBCC, as the executing agency, will lead planning, design, construction, and financing, marking a major milestone in Rajasthan’s growth.

NBCC MoU Signing Highlights

The MoU between NBCC (India) Limited and Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) was formalised in Jaipur. The event underlined the strategic significance of this project for Rajasthan’s economic and cultural development.

NBCC Project Scope and Features

NBCC, as the exclusive executing agency, will transform a 95-acre land parcel on Tonk Road near Jaipur Airport. The development will include:

• Rajasthan Mandapam Convention Center
• Unity Mall
• Commercial, cultural, and allied infrastructure
• Global-standard master planning, architectural design, and marketing

This initiative positions Jaipur as a world class hub for conventions, retail, and cultural exchange.

Financial Model

• RIICO will extend an interest free advance of ₹50 crore to NBCC.
• NBCC will mobilize further funds through sale and lease of built-up spaces and planned plots.
• The project will follow a self-financing model, with additional support from public financial institutions if required.
• Government of Rajasthan has committed up to ₹635 crore for the Rajasthan Mandapam component.

Oversight and Accountability

A Joint Empowered Committee will monitor:

• Project progress and timelines
• Design approvals
• Quality control and milestone achievements

This ensures transparent execution and timely delivery.

Read More: NBCC and NMRDA Join Hands to Develop Naveen Nagpur as a Business Hub.

Conclusion

The ₹3,700 crore Rajasthan Mandapam project is a landmark step in Rajasthan’s infrastructure journey. With NBCC’s execution capabilities and RIICO’s support, the initiative is set to transform Jaipur into a premier destination for global conventions and retail innovation. For NBCC investors, the MoU also underscores the company’s expanding role in nation building and large scale urban projects, potentially boosting NBCC share price momentum in the coming quarters.

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