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NBCC posts gain of Rs 257-cr, plans global expansion

PTI 06 Jun 2014, 18:42:21 PM IST
New Delhi: The National Buildings Construction Corporation (NBCC) today announced a net profit of Rs 257 crore for the Financial Year 2013-14 and said it is now planning to expand its global footprint and also has fresh projects in the pipeline in the country, including in housing.  Sharing details of NBCC's financial performance at a press conference here, NBCC CMD Anoop Kumar Mittal said that the above figure represented an increase of more than 24 per cent over the last Financial Year (2012-13).  The Board of Directors of NBCC has recommended dividend of Rs 5 per equity share amounting to Rs 60 crore for the financial year 2013-14 as against Rs 45 crore last year, he told reporters.

While the total income rose to Rs 4,098 crore, the net worth of the company has touched Rs 1,141 crore in the current fiscal, he said.

Speaking about future plans, Mittal said that the NDA government has spoken of developing 100 smart cities and NBCC was keen to contribute towards the creation of this infrastructure.

The corporation is also now looking at taking up infrastructure projects abroad and would open an office in Botswana, he said about the expansion plans while adding that NBCC recently signed an MoU with a company in Oman.  He also said that NBCC was working on several residential projects, including in the National Capital Region, and was waiting for final approvals to redevelop three government colonies in the capital.

The corporation is also working on housing projects in places like Gurgaon, Khekra, Patna and Kochi and, in this financial year, would start housing projects in Faridabad, the second phase in Alwar, Ghaziabad and a few flats in Kolkata.  NBCC is awaiting final approvals before starting work in full swing on the redevelopment of Netaji Nagar, Kasturba Nagar and Tyagraj Nagar, which are to come up as green complexes, he further said.