NBCC inks MoU for Rs 3,500-cr land development in Lucknow

NBCC (India) informed that it has entered into a memorandum of understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam for land development in Lucknow for approximate value of Rs 3,500 crore.

Under the agreement, the company will undertake exeution of mixed land use development of Poorvi Vihar, Lucknow approximately admeasuring 588 acre to NBCC as project management consultant.

NBCC will take possession and planning, designing and development of encumbrance free site admeasuring 50 acres as phase 1 of the project having approximate value of Rs 3,500 crore.

NBCC (India) is in business of operates into three major segments namely project management consultancy, real estate and engineering procurement & construction.

The company reported 53.43% jump in consolidated net profit to Rs 122.12 crore on 19.44% rise in revenue from operations to Rs 2,458.73 crore in Q2 FY25 over Q2 FY24.

The scrip slipped 5.78% to Rs 79.57 on the BSE.

Powered by Capital Market - Live News