NBCC (India) Ltd

NBCC (India) Ltd

NBCC (India) formerly National Buildings Construction Corporation Ltd is a blue-chip Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company's present areas of operations are categorized into three main segments i.e. Project Management Consultancy (PMC) Real Estate Development and EPC Contracting. NBCC has been executing many Landmark Projects as a PMC which contributes to about 90% of its annual revenue. The segment being the company's core strength the areas covered under its umbrella include Re-development of government properties Roads Hospitals & Medical Colleges Institutions Offices Airports Bridges Industrial & Environmental Structures etc. NBCC has been operating in Infrastructure Segment as well called EPC wherein it has been executing projects such as Chimneys Cooling Towers and various types of Power Plant Works.National Buildings Construction Corporation Ltd was incorporated on November 15 1960 as private limited company. The company was established as a wholly owned Government of India undertaking under the erstwhile Ministry of Works Housing & Supply (MoWHS) which is now known as the Ministry of Urban Development (MoUD). The Government of India currently holds 73.69% stake in NBCC (India) (as on 30 June 2018). In year 1977 NBCC ventured in overseas market and successfully executed diverse and complex projects in countries like Libya Iraq Yemen Nepal Maldives Mauritius Turkey and Botswana. The Company presently records its presence in Maldives Mauritius and Dubai where it is implementing various prestigious projects. It is presently executing projects in several African countries like Niger Uganda Malawi Zambia Liberia Gambia Burkina Faso Togo and Gabon. The total value of these projects is approximately Rs. 2000 crore. NBCC is also executing project with respect to conceptualizing designing and construction of India Pavilion at the World Expo to be held in Dubai .In May 24 2011 the company was converted into a public limited company.In October 14 2008 the Government granted Schedule 'A' PSU status. They have also been awarded ISO 9001:2008 from the Bureau of Indian Standards in respect of their consultancy and project management division. They have also received 'Excellent' rating from MoUD for each of the Fiscal years from 2004 to 2010 and Ministry of Heavy Industries & Public Enterprises has awarded them with an 'Excellence Award'. Further in 2011 for one of their PMC projects they were awarded an 'Appreciation Shield' for quality and timely completion of NSEZ Noida Project by the Ministry of Commerce & Industry and the Development Commissioner NSEZ. The company successfully completed 43 PMC projects in India from during the period April 01 2006 - January 31 2012. They successfully completed 11 of civil infrastructure for power sector projects for the power sector during the period April 01 2006 - January 31 2012. As of January 31 2012 the company successfully completed 8 real estate development projects. They have in hand 4 residential Ongoing Projects 6 residential Forthcoming Projects and 3 commercial Ongoing Projects and 6 Forthcoming Projects.In March 2012 the company came up a (IPO) Initial public issue of 12000000 shares through Book Building for listing in stock exchanges. The company's IPO oversubscribed 4.93 times on final day of subscription and got listed at stock Exchanges BSE and NSE on 12th April 2012.The company has been granted 'Mini Ratna' category - I status on the basis of its performance upon fulfiling the criteria prescribed by department of public enterprises during the year under reviewIn 2013 the company won various prestigious awards such as- Real Estate Awards 2013 Engineering Excellence Award 2013 Special Jury Governance Now PSU Awards 2013. etc. In 2014 the company won various awards like India Public Sector Enterprises Awards for Excellence-2014 NAREDCO NATIONAL REAL ESTATE AWARD 2014 Dun & Bradstreet Infra Awards 2014 etc. During the year the company was conferred the Navratna status. In 2015 the company signed MOU with DDA for development of 'East Delhi Hub' at Karkardooma. The company also signed project specific MoU with NAWADCO. The company was bestowed with International Excellence Award and also got award for its Green Buildings initiatives and also awards for Business Excellence and Housing Innovation Excellence.On 15 December 2015 National Buildings Construction Corporation announced the formation of a wholly owned subsidiary company in the name and style of NBCC Engineering & Consultancy Limited to provide engineering and consultancy services of all kinds related to construction and development of all types of buildings (residential commercial industrial etc.) infrastructure and other conveniences including smart city projects.The Board of Directors of National Buildings Construction Corporation at its meeting held on 11 March 2016 inter-alia considered and approved the proposal for the splitting of one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each.On 19 March 2016 National Buildings Construction Corporation announced that the Board of Directors of the company has accorded in-principle approval for takeover of Hindustan Steelworks Construction Limited (HSCL) after restructuring its balance sheet inter alia involving waiver of government loans with interest upto the date of takeover and providing further contribution for contingent liabilities and payment of other liabilities including bank loans.The name of the company was changed from National Buildings Construction Corporation Limited to NBCC (India) with effect from 23 May 2016. Ministry of Corporate Affairs Govt. of India vide Rule 29 of the Companies (Incorporation) Rules 2014 on 23 May 2016 issued Certificate of Incorporation to the company pursuant to the change of name.Goa Shipyard Ltd. signed Memorandum of Agreement (MOA) with NBCC (India) on 8 August 2016 for assigning the work for construction of Office Building for Mine Counter Measure Vessels (MCMV) and additional space in the Yard of Goa Shipyard. Goa valuing Rs 100 crore.The Board of Directors of NBCC (India) at its meeting held on 4 January 2017 recommended issue of bonus shares in the ratio of 1 bonus share for every two equity shares held on record date. Fair Trade Regulator Competition Commission of India (CCI) at its meeting held on 31 March 2017 approved the proposal of NBCC (India) to acquire Hindustan Steelworks Construction Ltd. (HSCL). The Board of HSCL allotted Rs 35.7 crore equity share capital to NBCC on 1 April 2017. With this acquisition NBCC shall add a new vertical to its Business operation enriching its portfolio further and in turn further reinforce its position as a leading construction company of the country. It can be recalled that in May 2016 the Cabinet had approved the proposal for restructuring of HSCL and subsequently its takeover by NBCC (India). HSCL was incorporated in 1964 under the aegis of Steel Ministry for undertaking construction work related to steel plants. It is presently engaged in construction of buildings and infrastructure besides steel plants and has also forayed into certain activities in the mining sector.On 19 April 2017 NBCC (India) Ltd. and Bolix SA of Poland signed a Memorandum of Business Exploration (MOBE) for jointly promoting developing and adopting External Thermal Insulation and Composite Systems (ETICS) Solutions Technology in construction of highly energy efficient green/smart buildings in India. ETICS Technology is a robust and long lasting building energy performance solution developed to current standards over the last 40 years. On 6 July 2017 NBCC (India) announced that it has incorporated a wholly owned subsidiary namely NBCC International Limited to carry out the construction real estate and project management consultancy business in overseas countries. On 12 July 2017 NBCC (India) announced that it has incorporated a wholly owned subsidiary namely NBCC Environment Engineering Limited to carry out the business in the field of environment and sustainability. The Board of Directors of NBCC (India) Ltd. at its meeting held on 13 February 2018 recommended splitting of the company's equity shares of Rs 2 each into two equity shares of the face value of Rs 1 each subject to the approval of the shareholders of the company. On 18 March 2018 NBCC (India) Ltd. announced its diversification into the Road construction space. The company signed an initial agreement with Ecotourism Development Corporation of Uttarakhand Ltd (EDCUL) to construct an eco-tourism circuit along Kotdwar-Ramnagar Kandi Road in the State of Uttarakhand. The 50 km four lane highway road project will be partly straight road and partly elevated road like flyover/bridge etc. to allow for free movement of wild animals underneath. The project will be developed under Green Infrastructure/Green Road Model and is estimated to cost Rs 2000 crore.On 16 June 2018 NBCC announced that it has submitted bid in response to the invitation by Department of investment and Public Asset Management (DIPAM) Government of India for strategic disinvestment of HSCC (India) Limited (HSCC) and Engineering Projects (India) Limited (EPIL).On 28 June 2018 NBCC informed the stock exchanges that it has sold office space measuring 27769 sq .ft. at NBCC Centre Okhla Phase-1 New Delhi to M/s Balmer Lawrie & Co. for a total value of Rs 83.31 crore. The Profit margin available to NBCC against the said deal will be approximately Rs 55 crore.During FY 2018-19 the Company has taken over HSCC (India) Limited a Mini Ratna Category-I Pubic Sector Undertaking.During FY 2018-19 the Company incorporated a foreign wholly owned subsidiary Company in Dubai i.e. NBCC DWC-LLC. Internationally it got the project to build Mahatma Gandhi International Convention Centers in nine African nations as well as a project to construct the Indian Pavilion at the World Expo 2020 in Dubai. It signed an agreement to construct three key projects in Mauritius worth US $44 million (Rs. 310 crore approximately).The Company executed MoU with Hill International Project Management (India) Pvt. Ltd. in FY 2019-20 for a period of two years to collaborate in jointly providing project management consultancy services in India and other countries. The Hon'ble Supreme Court vide its Order appointed NBCC (India) Limited (NBCC) as Project Management Consultant to complete stalled projects of the Amrapali Group. Further NBCC is in process to acquire to `Jaypee Infratech Limited' through Corporate Insolvency Resolution Process (CIRP). The Company had acquired Hindustan Steelworks Construction Limited (HSCL) in 2017 and HSCC (India) Limited in 2018. It had been benefited from their versatile infrastructure portfolio and expertise in implementation of integrated steel plants and hospitals respectively. It is also acting as Land Management Agency (LMA) for the Government of India for disposing of land / immovable assets of sick PSUs.The Hon'ble Supreme Court in June 2019 had assigned the job of completion of 24 stalled Amrapali projects comprising 46500 houses and valuing approx. Rs. 8300 crore to the Company. NBCC is a Project Management Consultant for Amrapali projects and has awarded the work of 22 projects at estimated cost of Rs. 7309 crore out of which work progressed so far is to the extent of Rs. 220 crore. Further till now 695 flats have been completed and handed over by NBCC. In 2019 Company signed a Memorandum of Understanding (MoU) with the Election Commission of India (ECI) for construction of office building in Dwarka New Delhi valuing Rs. 150 Crore. The planning and designing of the building is currently in progress. It also signed an MoU with the Delhi Government for development of land parcels for multilevel bus parking depots redevelopment of residential colonies of DTC and more commercial facilities. NBCC in the first instance will take up the redevelopment of four land parcels including the Vasant Vihar Depot Shadipur Residential Colony Hari Nagar Residential Colonyand Hari Nagar I and II Depots. These will be the first such depots in the country with all modern facilities. During the year 2019-20 Company secured business of Rs. 12856 crore which includes IIM Sambalpur Odisha; stalled projects of Amrapali Group in Noida and Greater Noida Smart township for Central Coalfields Ltd Ranchi Development works of Utkal University Bhubaneswar; Medical college Chamba HP etc. In FY 19-20 Company bagged the construction of 3 nos. Natural drought cooling towers at Yadadri Telengana from BHEL on EPC mode against stiff competition. Its wholly owned subsidiary NBCC Services Ltd signed MoU with Ministry of External Affairs for upgrading internal facilities and creating an office space for Establishing G20 Summit Secretariat at Sushma Swaraj Bhawan in Chanakyapuri New Delhi. HSCL another subsidiary of the Company signed MoU with the Ministry of Tribal Affairs for a project to re-design 58 Eklavya Model Residential Schools in Odisha Jharkhand and Dadar & Nagar Haveli at a value of around Rs. 2000 crore.On the domestic front Company is presently executing various mega projects such as World Trade Centre and International Exhibition-cum-Convention Centre at New Delhi. It is also a prime mover in redevelopment of GPRA colonies country's healthcare infrastructure and has undertaken the execution of several significant projects such as hospitals medical colleges health care facilities pan India. Further NBCC signed a MoU with the Government of Mauritius to undertake construction of 4 projects in Mauritius - Police Academy Forensic Science Laboratory National Archives & National Library and renovation of Bank of Baroda Building.Company completed New Supreme Court Building in Mauritius which was jointly inaugurated by Hon'ble Prime Ministers of India and Mauritius in July 2020. It secured order for construction of Police Headquarter (PHQ) in Seychelles (costing USD 13.9 million) and the construction of Attorney General's (AG) Office also in Seychelles (costing USD 13.38 million).During the FY 2020-21 NBCC filed application before Ministry of Corporate Affairs for merger of NBCC International Limited (NIL) and NBCC Environment Engineering Limited (NEEL) with holding company i.e. NBCC.During the FY 2020-21 NBCC Engineering & Consultancy Limited a wholly owned subsidiary of the Company commenced its Voluntary Winding up and appointed Official Liquidator for the same.During the FY 2020-21 NBCC Gulf LLC subsidiary of the Company incorporated in Sultanate Oman has commenced its Voluntary Winding up and finally went into liquidation on June 20 2021.NBCC Gulf LLC has ceased to be a subsidiary effective from June 20 2021. The Company completed major projects Redevelopment of Delhi's New Moti Bagh GPRA Complex and GPRA East Kidwai Nagar Delhi in 2021-22. Two Research projects also completed in financial year 2021-22 namely 1) Developing an integrated frame work of green Construction practices and implementation roadmap for NBCC. 2) Identification and Degradation of Emerging Contaminants in India by Advanced Oxidation and Advanced Reduction Process.The international projects completed in 2021-22 included Construction of Indo Maldives Friendship Faculty of Hospitality and Tourism Studies at Male Republic of Maldives; Renovation work of Indira Gandhi Memorial Hospital at Male' Republic of Maldives; 200 Bedded Indira Gandhi Memorial Hospital Male Republic of Maldives; Meer Housing Project (3600 Dwelling Units) Turkey; Indira Gandhi Centre for Indian Culture Phoenix Mauritius; New Supreme Court Building at Port Louis Mauritius; Social Housing Projects at Mare Tabac & Dagotiere Mauritius; Institute For Security & Law Enforcement Studies (ISLES) at Addu Maldives. NBCC Engineering & Consultancy Limited has ceased to be a subsidiary effective from March 16 2023. The Company completed major projects during the Financial Year 2022-23 like AIIMS Bilaspur Himachal Pradesh valuing Rs 1249.82 Crore IIT- Mandi Himachal Pradesh valuing Rs. 580.90 Crore Regional Office Complex of NICL Kolkata valuing Rs 327.62 Crore NIT- Narela Works Delhi valuing Rs 271.06 Crore Construction of All India Institute of Ayurveda Yoga and Naturopathy (AIIA & N) Goa valuing Rs 267.81 Crore New Madhya Pradesh Bhawan Chanakyapuri New Delhi valuing Rs 149.87 Crore and Tripura Institute of Technology Agartala Phase-II valuing Rs 141.37 Crore etc.