NBCC (India) Limited has informed the Exchange regarding ': Intimation of MoU between NBCC and HUDCO '.
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NBCC (India) Limited has signed two MoUs with HUDCO (Housing and Urban Development Corporation Limited). The first MoU is for the redevelopment of August Kranti Bhawan at Bhikaji Cama Place, New Delhi, covering an approx. 18,830 sqmt. leasehold plot, where NBCC will provide techno-economic feasibility study, construction, project management, and monetization services. The second MoU involves HUDCO providing funds for NBCC's ongoing and upcoming self-sustainable model projects, while NBCC offers project management and marketing consultancy. The partnership aims to expedite project execution, enhance asset value, and contribute to urban infrastructure development. The company states these MoUs are in the normal course of business.
The MoUs strengthen NBCC's project execution capabilities and secure funding support from HUDCO, which could accelerate project delivery and revenue generation. The collaboration between two government entities on infrastructure projects is positive for NBCC's order book and business outlook.