An excavator sits parked in a clearing near a commercial building in Gujarat International Finance Tec-City (GIFT City), Gujarat. (Photographer: Dhiraj Singh/Bloomberg)

NBCC Expects Rs 20,000-Crore Revenue From Two Major Delhi Projects

NBCC (India) Ltd. said redevelopment of two projects in Delhi—Sarojini Nagar and Netaji Nagar—will contribute nearly Rs 20,000 crore to its revenue.

The state-run engineering and construction company has received a nod from the Delhi High Court to redevelop six out of the seven projects, Chairman and Managing Director Anoop Kumar Mittal said.

“NBCC will undertake three projects. The remaining projects worth about Rs 4,000-5,000 crore will be executed by Central Public Works Department,” he told BloombergQuint in an interaction. “The funding will be through NBCC.” The Naroji Nagar project, Mittal said, will contribute Rs 2,000-2500 crore.

The company expects an additional Rs 10,000-15,000 crore worth of order in the second half of the ongoing financial year, Mittal said, adding the outstanding order book is at Rs 80,000 crore.

The company also maintained the revenue growth forecast for the financial year ending March 2019 at 30 percent.

Watch the full conversation here: