NBCC plans to buy two smaller PSEs

By: |
Mumbai | Published: May 15, 2018 2:59:28 AM

Government-owned NBCC (India) is in talks to acquire two smaller public sector enterprises —HSCC (India), formerly known as Hospital Services Consultancy, and Engineering Projects (India) (EPI).

nbcc, nbcc india, hscc, hospital services consultancy, epi, anoop mittal, hscc indiaNBCC is also looking at taking over either the whole or a portion of the 12-acre plot of Richardson and Cruddas in Mumbai’s Byculla area.

Government-owned NBCC (India) is in talks to acquire two smaller public sector enterprises —HSCC (India), formerly known as Hospital Services Consultancy, and Engineering Projects (India) (EPI).

HSCC is under the purview of the health and family welfare ministry and provides project management and consultancy services from concept to commissioning for institutional and healthcare infrastructure projects. Engineering Projects (India) is under the purview of the heavy industries ministry of heavy industries and is engaged in the construction of turnkey industrial infrastructure projects in the power, steel and petrochemical sectors, among others, both in India and abroad.

Anoop Kumar Mittal, CMD, NBCC, said, “We are primarily interested in these two companies. The process is under progress and it is at an advanced stage. We are awaiting the government’s decision.”

The two acquisitions would add Rs 14,500 crore to NBCC’s already sizeable order book of about Rs 80,000 crore. HSCC has an order book of Rs 10,000 crore while EPI’s order book stands at Rs 4,500 crore. Besides its headquarters in New Delhi, EPI also owns office space at Bakhtawar Tower in Nariman Point in Mumbai and also a few apartments in the western suburbs in Bandra.

Besides, NBCC is also looking at taking over either the whole or a portion of the 12-acre plot of Richardson and Cruddas in Mumbai’s Byculla area.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Jaypee group’s home buyers divided on promoter takeover bid for bankrupt Jaypee Infratech
2This ‘black box’ chip in devices can frustrate hackers – Here is how
3Xiaomi to launch Redmi S2 in India as Redmi Y2? What we know so far