Mumbai, Sept. 2 -- State owned NBCC (India) has secured five work orders worth a combined Rs 1,342.7 million (mn), excluding GST, covering school campuses, an education facility and a Canara Bank building. The contracts were awarded by Kendriya Vidyalaya Sangathan, the Directorate of Teacher Education and SCERT in Odisha and Canara Bank, the company said in an exchange filing on Thursday. All assignments are domestic project management consultancy contracts secured in the ordinary course of business.
The bulk of the new orders comprises three Kendriya Vidyalaya projects worth Rs 1,105.8 mn in aggregate. The largest contract, valued at Rs 370.2 mn, is for the construction of Kendriya Vidyalaya No three at AIIMS Darbhanga in Bihar. NBCC also won contracts worth Rs 369.2 mn for a campus at Barkatha in Jharkhand's Hazaribagh district and Rs 366.4 mn for a campus at Maharajganj in Bihar's Siwan district.
Separately, Odisha's SCERT awarded a contract worth Rs 111.4 mn to construct a Centre of Excellence for the District Institute of Education and Training at Bargarh. Canara Bank granted a Rs 125.5 mn contract for a bank building at Hospital Junction in Alappuzha, Kerala.
Together the five contracts total Rs 1,342.7 mn, excluding GST, reinforcing NBCC's order inflow in the education and banking infrastructure segments. The assignments are standard project management engagements and do not involve equity investment or joint ventures. The contracts will expand NBCC's presence in education and banking infrastructure across the relevant states.
NBCC shares closed 0.68 per cent lower at Rs 88.60 on the National Stock Exchange on Thursday. The company indicated the contracts were secured in the ordinary course and will be executed as per agreed timelines. The company said project timelines and execution details will be shared with stakeholders through exchange filings as work progresses.
Published by HT Digital Content Services with permission from Construction World.