NBCC (India), HUDCO inks MoU to develop institutional complex in Noida

NBCC (India) and Housing & Urban Development Corporation (HUDCO) has signed memorandum of understanding (MoU) for the development of a 10-acre institutional plot in Noida Sector 62, New Delhi.

NBCC (India) rallied 4.46% to Rs 100 and Housing & Urban Development Corporation (HUDCO) jumped 3.97% to Rs 229.35 on the BSE.

HUDCO on the said land intends to create an institutional complex with world class amenities which is likely to have 8.71 Lakh sq ft. of built-up area with a mix of office space, studio apartments, conference space and retail & common facilities. NBCC will undertake the execution of the said project with the scope of concept-to-commissioning. The project has an estimated cost of Rs 600 crore.

 

NBCC (India) is in business and operates into three major segments, namely project management consultancy, real estate, and engineering procurement & construction.

Housing & Urban Development Corporation (HUDCO) is a policy institution that provides housing finance and non-commercial urban infrastructure financing. The company's key mission is to support the construction of affordable housing for lower-income households and the development of non-commercial urban infrastructure (including water supply, road and transport, power, and commercial infrastructure). HUDCO conducts its business by balancing profitability with its social mandate.

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