NBCC will turnaround Jaypee, if it wins the bid: Anoop Kumar Mittal

If NBCC gets Jaypee, we will deliver houses in three years, says NBCC CMD Anoop Kumar Mittal

Being the last hope for 70,000 families waiting for close to a decade to get keys to their flats is tough. Anoop Kumar Mittal, chairman and managing director (CMD), NBCC (India), knows this well. In conversation with Karan Choudhury, Mittal talks about a plan for the homebuyers of the Jaypee group and Amrapali projects as well as the company’s future course of action. Edited excerpts:

What is your vision document all about? 

Our business development plan, capacity of execution, ability we are targeting would be discussed. There are some areas where we are thinking of getting into, for one, bidding for Jaypee group projects. We do not want to remain in just one segment of projects any more.

When can Jaypee homebuyers finally get their home keys? How commercially viable is the project? 

If NBCC gets Jaypee, we will deliver houses in three years. This is what I have promised to homebuyers. We will take time to understand the commercial part of the project wholly, though we have calculated the numbers on basis of which we have submitted our bids. It is a huge project, involving more than 3,000 acres of land from Noida to Agra. There is a hospital as well. If we win this bid, we are confident that we can turnaround the company. We have submitted an expression of interest for the resolution plan. 

Will Jaypee become an affordable housing project for you? Do you have any other affordable housing projects in the pipeline?

If we win Jaypee, a lot of affordable housing would be covered in that project. We are preparing detailed project report for some affordable housing projects on government and public service undertaking land.   

How big is your order book at the moment?

The breakup of NBCC order book, segment wise, is close to 95 per cent project management consultancy (PMC), remaining 5 per cent engineering procurement and construction (EPC) and real estate combined. The total order book is around Rs 85,000 crore. 

Some of the business developments projects include construction of Mahatma Gandhi Convention Centres in nine African countries for Rs 2,000 crore, AIIMS in Bilaspur, Himachal Pradesh for Rs 1,138 crore, AIIMS in Deoghar, Jharkhand for Rs 902 crore as well as river front development project in Uttarakhand for Rs 750 crore. Redevelopment projects specifically Sarojini Nagar and Netaji Nagar are now on track. The company also intends to enter into collaboration as a co-developer for project management consultancies on land owned by private firms or government agencies.

What are you revenue projections like?

In the beginning of the year, I said that minimum 30 per cent growth was being targeted. I think we should be near that. The financial year is yet to be completed. Next year we plan to achieve at least this much of growth. NBCC is expecting to touch Rs 10,000 crore in top line.

How much of work has been completed in the beleaguered Amrapali project?

It is quite negligible as the matter is in Supreme Court. Unless the court directs us, we will not start any work. We have started some minor work valued at around Rs 10 crore. We are completing some unfinished work in some existing complexes where people are already living. 

What are your plans for the Air India properties that you have taken up?

We have been asked to redevelop two properties of Air India in the national Capital. Outright sale value of these two Air India properties combined is around Rs 5,000 crore.