NBCC (India) has emerged as the Highest Bidder in the e-auction process for purchase of a commercial tower admeasuring around 279,989 sq. ft. (super built-up area) at Bharat Business Park, Sarojini Nagar, New Delhi, for the purposes of self-use, leasing and/or investment.
The total estimated investment towards the proposed purchase would be around Rs 1,374.45 crore (including duties and taxes), payable in stages on construction-linked basis, in accordance with the progress of construction and subject to the terms and conditions of the e-auction. The acquisition is subject to completion of necessary formalities and execution of definitive agreements.
The Board of Directors of the company approved the proposal for participation in an e-auction process.
NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
