NBCC unit secures ₹65 Crore order from Bank of Baroda

5 Nov 2024 , 10:31 AM

NBCC (India) Ltd stated on Monday that its subsidiary, Hindustan Steelworks Construction Ltd (HSCL), obtained work orders worth ₹65 Crore in Bengaluru. In a filing to the stock exchanges on November 4, 2024, the state-run corporation stated that HSCL got the order from public sector lender Bank of Baroda (BoB) as part of its normal operations.

According to the order, Hindustan Steelworks Construction would develop BoB’s commercial plot in Financial City, Bengaluru Hardware Park. The project will be carried out on a deposit work basis, according to the exchange filing.

On Friday, the PSU announced various orders worth ₹235.46 Crores. This featured a large ₹186.46 Crore deal from Power Grid Corporation of India Ltd to rebuild their corporate office in Gurugram.

Additional orders included a ₹44 Crore contract from Mahatma Gandhi Kashi Vidyapith University in Varanasi to build a multipurpose examination hall and innovation hub, and a ₹5 Crore order for rehabilitation work at Sampurnanand Sanskrit University in Varanasi.

In other news, the NBCC has appointed Anjeev Kumar Jain as Director (Finance), with clearance from the Ministry of Housing and Urban Affairs. Jain earlier worked as the Executive Director (Finance) for RITES Ltd.

NBCC has produced great returns to investors in 2024, up 80% year to date and roughly 120% in the last year.

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