National Buildings Construction Corporation (NBCC) shares gained as much as 4 per cent in the early trade on Wednesday after it informed BSE that it has bagged work order from ITPO for re-development of Pragati Maidan, New Delhi for an estimated cost of Rs 2,149 crores.
At 9.28 am, NBCC shares were trading 2.85 per cent up at Rs 957.50. The scrip opened at Rs 953.20 and had touched a high and low of Rs 968.55 and Rs 953.20, respectively, in trade so far. Later, the share price ended 3.35 per cent up at Rs 962.10.
In a BSE filing, NBCC said, “The project entails the total development of 3,26,065 square meter of built up area including of 1,19,445 square meter of exhibition space and Convention Centre facility of 7,000 pax seating facility in single format (with a plenary hall of at least 3,000 pax capacity, functional hall of 4,000 pax) and in addition various appurtenant facilities like meeting halls, lounges, services and parking space for about 4,800 passenger car units (PCU) in Phase-I.”
NBCC is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.