NBCC (India) Limited — Important, 13-01-2025: Updates

NBCC (India) Limited has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd. Under this agreement, NBCC will serve as the Project Management Consultant for the mixed land use development of approximately 588 acres in Poorvi Vihar, Lucknow. The initial phase involves the development of a 50-acre site, valued at about ₹3,500 crores. NBCC will execute this project on a "deposit on work" basis, with agency charges set at 10% of the actual project cost plus applicable GST and taxes. This engagement aligns with the company's normal business operations and presents a significant opportunity for future growth.