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HUDCO and NBCC Sign ₹600 Crore MoU to Develop Noida Project

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Synopsis:

HUDCO and NBCC signed an MoU to develop a ₹600 crore institutional project in Noida. The project spans 8.71 lakh sq ft with offices, retail, and amenities.

HUDCO and NBCC news today

HUDCO and NBCC signed a memorandum of understanding (MoU) on 27 November 2024 to develop a 10-acre institutional complex in Noida’s Sector 62. The project, valued at ₹600 crore, will include 8.71 lakh sq ft of office spaces, studio apartments, conference areas, retail spaces, and modern amenities. NBCC will act as the project management consultant, handling the project from concept to commissioning.

Also read: LIC Appeals ₹529.6 Crore GST Demand Order for FY19-20

HSG & URBAN DEV CORPN LTD

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Key Takeaways:

  • Project Location: Noida, Sector 62.

  • Estimated Cost: ₹600 crore.

  • Land Area: 10 acres.

  • Built-up Area: 8.71 lakh sq ft.

  • Key Features: Offices, retail, studio apartments, and amenities.

Also read: Moody's Upgrades Vedanta Resources' Ratings, Outlook Remains Stable

Project Details

The Noida project will be developed on HUDCO-owned land, leveraging NBCC’s expertise in large-scale infrastructure development. The project aims to create a state-of-the-art institutional complex to meet the growing demand for modern office spaces and mixed-use infrastructure in the region.

Below is a summary of the project highlights:

Aspect

Details

Landowner

HUDCO

Developer

NBCC

Built-up Area

8.71 lakh sq ft

Estimated Cost

₹600 crore

Key Components

Offices, retail, apartments

NBCC’s Financial Performance

NBCC’s financial performance in Q2 FY2024 showcased a 52.8% YoY rise in net profit, reaching ₹125.1 crore compared to ₹81.9 crore in the same period last year. Revenue grew by 19.4% YoY to ₹2,458.7 crore. Despite higher earnings, the EBITDA margin narrowed to 4.1% from 4.6%.

Implications For NBCC India Share Price

The MoU could positively impact NBCC India share price as the company continues to secure large-scale infrastructure projects. The collaboration with HUDCO highlights NBCC’s ability to execute complex projects and maintain its leadership in public sector infrastructure development.

This development reflects a significant step towards modernising Noida’s infrastructure, with HUDCO and NBCC leveraging their expertise to create a landmark institutional complex. The project underscores NBCC’s role in advancing urban development across India.

Also read: Waaree Renewable Secures ₹1,233 Crore Solar PV EPC Contract

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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