A memorandum of understanding (MoU) with the Ministry of AYUSH has been signed in this regard.
NBCC will complete the 50-acre project in the next 24 months, the company said in a statement.
The All India Institute of Ayurveda, Yoga and Naturopathy will also cater to over 500 students every year offering undergraduate, post-graduate and PhD degrees.
The hospital will be divided into two sections -- a 100-bed ayurveda facility and a 150-bed naturopathy department.
The institute will also have hostel facility, with 67 rooms for doctors and 91 rooms for 182 students.
The yoga facility centre will include diabetic clinic, cardiac care unit and a specialised yoga therapy room for 30 patients.
NBCC CMD Anoop Kumar Mittal said the company has been undertaking several significant projects such as ESIC Hospitals, medical colleges and hospitals of various state governments.
It has recently acquired HSCC, formerly known as Hospital Services Consultancy Corporation, which is into developing institutional and healthcare infrastructure projects. With this takeover, NBCC has further strengthened its healthcare vertical and expertise.
NBCC is a Navratna enterprise under the Ministry of Housing and Urban Affairs. Its areas of operations are Project Management Consultancy (PMC), real estate development and EPC contracting.