HUDCO Partners with NBCC for Rs 600 Crore Institutional Project in Noida

State-owned construction firm NBCC (India) Ltd. and Housing and Urban Development Corporation (HUDCO) have signed a Memorandum of Understanding (MoU) for the development of a 10-acre institutional plot in Noida’s Sector-62. As per the regulatory filing on November 27, 2024. NBCC will act as the project management consultant (PMC) for the project, which is estimated to cost around Rs 600 crore.

MoU Signed for Noida Development

The proposed institutional complex, spanning a built-up area of 8.71 lakh sq ft., will have a mix of office spaces, studio apartments, conference facilities, and retail areas. NBCC will oversee the entire process, from concept to commissioning.

Contract in Odisha

In a separate development, NBCC received a Rs 316 crore contract to upgrade primary school hostels across various locations in Odisha. This project falls under the state sector scheme.

NBCC’s Background & Performance

Founded in 1960, NBCC (India) Ltd. is a government-owned enterprise that is into project management consultancy, engineering procurement, construction (EPC), and real estate development. The company has a portfolio of residential, commercial, and institutional projects.

NBCC’s September quarter financial results showed mixed trends. Net profit for Q2 FY25 increased by 52.8% year-on-year (YoY) to Rs 125.1 crore, compared to Rs 81.9 crore in the same period last year. Revenue rose by 19.4% to Rs 2,458.7 crore from Rs 2,085.5 crore YoY. However, EBITDA margin declined by 50 basis points to 4.1% from 4.6%.

As of the current trading session, HUDCO’s stock is priced at Rs 229.76, marking an intraday increase of Rs 9.34 (4.24%) and a year-to-date rise of 77.97%. NBCC’s shares are trading at Rs 98.98, up Rs 3.30 (3.45%) today, with an 81.38% increase year-to-date

Bringing it all together, NBCC has signed an MoU with HUDCO to act as the project management consultant for a Rs 600 crore institutional project in Noida’s Sector-62, which will include office spaces, studio apartments, and retail facilities. 

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.