AS PER ATTACHED INTIMATION
Awaiting price reaction for this filing.
NBCC (India) Limited has incorporated a new wholly owned subsidiary called NBCC Overseas Real Estate LLC in Dubai Mainland, UAE. The new entity has a paid-up capital of AED 1,000,000 (approximately ₹2.27 crore) and will operate in the real estate sector, focusing initially on buying and selling real estate in Dubai. NBCC holds 100% shareholding through a full cash subscription at face value. DIPAM approval was received on February 24, 2025, while RBI-ODI approval is still awaited. The subsidiary is newly incorporated and has not yet commenced business operations.
This is a strategic international expansion for NBCC into the UAE real estate market, diversifying its geographic footprint. Since the capital deployed is small and operations are yet to begin, the immediate financial impact is limited, but it opens a new growth avenue for shareholders in the overseas real estate segment.