NBCC to launch 1,000 flats for sale during festive season

State-owned construction firm NBCC will launch about 1,000 flats for sale in this festival season and is in discussion with the government to develop affordable housing projects on surplus land with PSUs.

The company is also in talks with the government for developing islands in Andaman and Nicobar and Lakshadweep, its Chairman and Managing Director Anoop Kumar Mittal said.

"We have been appointed as land management agency for the surplus land with sick PSUs. We are in close discussion with the government to develop affordable housing projects on some of the land parcels," he told reporters.

On developing island, Mittal said the company has experience in developing islands in Maldives and expects to bag similar projects in India.

"We will be launching 1,000 flats as well as commercial area across the country including Delhi-NCR in this festival. The flats will be in the price range of Rs 15 lakh to Rs 1 crore," he said.

Asked about taking over stressed projects of Jaypee Infratech and Amrapali, he said the company has not received any offer from any stakeholder including buyers, builders or the government.

However, he said the company would certainly consider if there is any opportunity, provided projects should be viable and not bring bad name to the NBCC.

On land purchase from Air India, Mittal said the company had signed an MoU with Air India for monetisation of surplus land assets of the national carrier, but there has not been much progress.

However, the CMD said that the company has recently bought a land parcel from Air India in Mauritius for Rs 3 crore. Two years back, it had bought another land parcel from Air India in Coimbatore for Rs 25 crore.

Mittal said two land parcels in Vasant Vihar and Baba Kharag Singh Marg in Delhi were given on lease to Air India by the government and the same is being returned to the Ministry of Housing and Urban Affairs.

The company could develop projects on these two land parcels, he added.

Mittal said the company has an order book of Rs 75,000 crore and the same is likely to touch Rs 1 lakh crore in the next few months. The company has an order book of Rs 700 crore from overseas.

On developing railway stations, he said the company has bagged 10 projects and would like to develop at least 4-5 projects before acquiring more such projects from the Railway Ministry.

Among major projects, NBCC has bagged over Rs 2,000 crore project to develop integrated exhibition-cum-convention centre for ITPO at Pragati Maidan.

NBCC, which is under the administrative control of Ministry of Housing and Urban Affairs, is present in three main segments - Project Management Consultancy (PMC), Real Estate Development and EPC Contracting.