NBCC inks MoU with RIICO for Rs 3,700-cr Rajasthan Mandapam project

NBCC (India) has signed a memorandum of understanding (MoU) with the Rajasthan State Industrial Development and Investment Corporation (RIICO) for the development of the prestigious Rajasthan Mandapam and allied infrastructure projects in Jaipur.

The development will take place near Jaipur International Airport, Tonk Road, with the total project valued at approximately Rs 3,700 crore.

NBCC, appointed as the exclusive Executing Agency, will lead the transformation of a 95-acre prime land parcel. The scope of work includes master planning, architectural design, engineering, construction, and international-standard marketing.

The project will feature the Rajasthan Mandapam Convention Centre, Unity Mall, and various commercial and cultural infrastructure components, positioning Jaipur as a premier destination for global conventions and retail innovation.

RIICO will provide NBCC with an initial interest-free advance of Rs 50 crore. NBCC will mobilize the remaining funds through the sale and lease of built-up spaces and planned plots, while also leveraging public financial institutions as needed to ensure uninterrupted execution.

The project?s investments, including government financial support up to Rs 635 crore for the Rajasthan Mandapam, reflect the commitment to timely, transparent and accountable completion. A joint Empowered Committee will monitor progress, designs and milestones, ensuring rigorous oversight and quality.

The project is targeted for completion within 30 months upon receipt of statutory and internal approval.

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

The company's consolidated net profit advanced 26.3% to Rs 132.13 crore on a 11.6% rise in revenue from operations to Rs 2,391.19 crore in Q1 FY26 over Q1 FY25.

The counter added 0.01% to Rs 107.81 on the BSE.

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