NBCC bags Rs 5,828-cr project from AIIMS

The order includes edevelopment of AIIMS Western Campus and Ayurvigyan Nagar, New Delhi involving construction of 3,000 flats in 2.5 years tim

State-run NBCC has bagged Rs 5,828 crore redevelopment project in the national project from AIIMS, involving construction of 3,000 flats.

"All India Institute of Medical Sciences (AIIMS) has issued letter of award dated November 23, 2015 to NBCC for the redevelopment of AIIMS Western Campus and Ayurvigyan Nagar, New Delhi involving construction of 3,000 flats in 2.5 years time with the financial implication of Rs 5828 crore," NBCC said in a regulatory filing.

The revenue generation for commercial viability of the project would be met by selling 10 per cent of area.

NBCC would be charging 10 per cent of the final project cost as project management consultancy (PMC) fee and 1 per cent for the marketing expenses on total fund realisation from the sale/lease of built up area, the filing added.

The MoU between AIIMS and NBCC will be signed after the project approval by the Union Cabinet. While, the proposal has been duly recommended in-principle by the standing finance committee of AIIMS in its 209th meeting, it added.

Letter of award dated November 23, will enable NBCC to take-up the proposal for further perusal and expedite the formulation of Cabinet note in this regard.

In the second quarter, the blue-chip Navratna Enterprise had reported a 12 per cent increase in its consolidated net profit to Rs 68.28 crore for the quarter ended on September 30, on account of increase in revenue from operations.