NBCC sells 28,000 sq ft office space in South Delhi for Rs 830 million

State-owned NBCC on Thursday said it has sold nearly 28,000 sq ft office space at Okhla in the national capital to Balmer Lawrie & Co for Rs 830 million.

In a filing to the BSE, the company informed that it has "sold office space measuring 27,769 sq ft at NBCC Centre, Okhla, Phase-1, New Delhi to Balmer Lawrie & Co for a total value of Rs 833.1 million".

The profit margin available to NBCC against this deal will be about Rs 550 million, it added.
 

NBCC (India), a navratna enterprise under the Ministry of Housing and Urban Affairs, present areas of operations are categorised into three main segments -- project management consultancy (PMC), real estate and EPC contracting.

With consolidated revenue of Rs 64.01 billion, NBCC has been growing with a consistent upward trajectory of 20 per cent CAGR in the past five years.