State-owned NBCC (India) Ltd announced on Monday (March 23) that it has received a work order worth ₹58.61 crore from Maharaja Sriram Chandra Bhanja Deo University, Baripada, Mayurbhanj, Odisha. According to reports from CNBC TV18, the order has been awarded in the ordinary course of business and pertains to project management consultancy services. The contract has been awarded by a domestic entity and the nature of the contract is project management consultancy.
The scope of work includes the construction of various buildings, roads, and drains, along with electrical and mechanical works under an Infrastructure Development Grant. As reported by CNBC TV18, the total value of the order stands at approximately ₹58.61 crore, excluding GST. The company clarified that there is no promoter or promoter group interest in the awarding entity, and the contract does not fall under related party transactions.
This latest contract adds to NBCC's recent acquisition of domestic orders with a combined value of approximately ₹319.78 crore, spanning housing, infrastructure, and institutional development projects across Assam, Meghalaya, and Bihar. According to CNBC TV18, the largest order valued at around ₹227.99 crore was awarded by Oil India Ltd for constructing an executive housing complex at Duliajan in Assam on a turnkey basis. The company will act as the project management consultant for this development.
Despite securing the new contract, NBCC (India) Ltd shares ended at ₹79.10, down by ₹4.81, or 5.73%, on the BSE. As reported by CNBC TV18, the company also secured a smaller order valued at ₹8.03 crore from the Collectorate in Patna for developing dedicated spaces for a start-up incubation centre and a centre for public policy at the Chandragupt Institute of Management.
