In an exchange filing made during market hours today, the company said that it has inked a memorandum of understanding (MoU) with Currency Note Press (CNP) under Security Printing and Minting Corporation of India Limited (SPMCIL), Maharashtra, for planning, designing and execution of upcoming works such as state of art museum, infrastructure development works like treatment plants etc. at Currency Note Press (CNP) Nasik.

Separately, NBCC informed that the the Ministry of External Affairs (MEA) has sanctioned an amount of Rs 261.71 crore for the redevelopment of MEA Housing Complex (Old) at Kasturba Gandhi Marg, New Delhi.

In August last year, the company had signed an MoU with the Ministry of External Affairs for the said redevelopment project for a tentative cost of approximately Rs 175 crore.

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 reported a consolidated net profit of Rs 108.41 crore in Q4 FY23 steeply higher than Rs 35.39 crore posted in Q4 FY22. Net sales grew by 14.2% to Rs 2,732.42 crore during the quarter.