NBCC (India) Limited on Wednesday announced that it has bagged a work order from National Institute of Fashion Technology for construction of National Institute of National Institute of Fashion Technology Campus at Varanasi, Uttar Pradesh and modification works of existing Trade FaciIitation Centre as part of Campus. The order value, it added, is worth Rs 218 crore.
In a regulatory filing, NBCC said that the time period by which the order is to be executed is yet to be decided.
Earlier in December 2023, NBCC had announced that it has sold 2.23 lakh square feet of commercial space for Rs 905 crore in the World Trade Centre project at Nauroji Nagar in the national capital. In a statement, NBCC had said it has conducted the 22nd auction for the sale of commercial space in the World Trade Centre.
Furthermore, in an interaction with Financial Express, Chairman and managing director KP Mahadevaswamy talked about the company’s revenue model and said that the revenue have been on an upward trajectory and the company is expecting to generate a year-on-year growth of around 15 per cent in FY24, compared to Rs 8,962 crore in FY23. “Revenue has got a big boost from redevelopment and real estate segments. With a robust order book of Rs 55,000 crore, sustained revenue flows are ensured. We have set a target to achieve annual revenues of Rs 25,000 crore in the next five years, with an expected bottom line of around Rs 2,000 crore. We ‘break even’ at the revenue point of around Rs 5,500 crore, and beyond this, the profitability ratio rises dramatically,” he said.