NBCC secures business worth Rs 2,000 cr

State-run construction firm NBCC obtained business worth Rs 2,000 crore from various clients including the West Bengal government during May.
The National Buildings Construction Corporation (NBCC) had informed last week that the Rajasthan government has awarded it projects of Rs 378 crore for the construction of medical college campus and upgradation of a district hospital.
"The company has secured the business amounting Rs 2,000 crore (approx) from various clients during the month of May, 2015," NBCC said in a BSE filing.
The company added that one of these projects is sanctioned by the West Bengal government for the construction of 2,400- seat Indoor Auditorium at Alipur, Kolkata, at an estimated cost of Rs 418.72 crores.

Meanwhile, the board has approved 10 per cent follow on public offer to raise over Rs 900 crore to fund business expansion plans of the company.
The stake sale would be subject to the approval of the Government of India, which holds 90 per cent equity in the NBCC.

NBCC was listed on the bourses in 2012 when government diluted 10 per cent stake to raise Rs 127 crore. The price band of the NBCC IPO had been fixed at Rs 90-106 per share.
NBCC, is under the administrative control of the Ministry of Urban Development, provides project management consultancy services for construction projects, civil infrastructure for power sector and real estate development.

The NBCC scrip was trading at Rs 773, up 0.36 per cent on the BSE.