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

The profit margin available to NBCC against this deal will be about Rs 550 million

property, infrastructure

The firm’s immovable properties have been attached under the Prevention of Money Laundering Act

Press Trust of India New Delhi
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.

 

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First Published: Jun 28 2018 | 4:36 PM IST

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