Hot Pursuit     06-Sep-23
NBCC soars on MoU with Kerala State Housing Board for Rs 2,000 crore project
NBCC (India) jumped 5.47% to Rs 63.05 after the company announced that it has signed MoU with Kerala State Housing Board (KSHB), Govt. of Kerala, for a project worth approximately Rs 2000 crore.

The project involves development of 17.9 acres of land parcel of Kerala State Housing Board at Marine Drive, Kochi, Kerala.

NBCC (India) provides civil engineering construction services. As on 31 March 2023, the Government of India held 61.75% stake in NBCC (India).

The company had reported a consolidated net profit of Rs 75.14 crore in the quarter ended June 2023 as against net loss of Rs 6.29 crore during the previous quarter ended June 2022. Sales rose 7.11% to Rs 1913.79 crore in Q1 FY24 over Q1 FY23.

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