State-owned NBCC (India) Ltd has signed six memoranda of understanding (MoUs) with the West Bengal government's Department of Urban Development and Municipal Affairs and various state authorities to undertake comprehensive urban development projects. According to reports from CNBC TV18 and Rediff Moneynews, the MoUs were signed in the presence of West Bengal Urban Development and Municipal Affairs Minister Agnimitra Paul and NBCC Chairman and Managing Director K.P. Mahadevaswamy, along with other state government officials and company representatives. In a regulatory filing on Thursday, the company confirmed the signing of these agreements for various urban development projects across West Bengal.
The projects encompass significant urban renewal initiatives including the redevelopment of the College Street area and China Town in Tangra, in association with the Kolkata Metropolitan Development Authority. As reported by CNBC TV18 and Rediff Moneynews, NBCC will also undertake riverfront development at Chandannagar with the Chandernagore Municipal Corporation. Additional projects include a feasibility study for redeveloping government housing in the BMC area, construction of public toilets across various urban areas through the State Urban Development Agency, and development of river ghats in Howrah and Nabadwip. The company has specifically signed MoUs with Howrah Municipal Corporation for development of river ghat at Howrah and with Nabadwip Municipality for development of river ghat at Nabadwip.
According to the latest regulatory filing, NBCC will execute the projects on a deposit work basis and will be reimbursed the actual project cost and paid agency charges of 5% of the actual cost, excluding GST. The company stated that project cost details would be disclosed in due course. The MoUs were signed as part of NBCC's strategy to expand its urban development portfolio across multiple states, leveraging its expertise in project management consultancy and real estate businesses.
As reported by CNBC TV18, NBCC delivered robust financial results for the second quarter of FY27, with net profit rising 33.8% year-on-year to ₹206 crore compared with ₹154 crore in the corresponding period last year. The company's revenue from operations increased 16.5% to ₹3,396 crore from ₹2,914 crore, while EBITDA more than doubled to ₹225.5 crore from ₹104.5 crore a year earlier. The EBITDA margin improved significantly to 6.6% in the September quarter from 3.6% in the year-ago period.
According to the report, NBCC's board declared a second interim dividend of ₹0.25 per paid-up equity share for FY27, representing a payout of 25% of the face value. The company fixed November 11, 2026, as the record date to determine shareholders eligible for the dividend. As reported by CNBC TV18, NBCC shares closed at ₹80.30 on the NSE on Thursday, down 0.40%. The stock has declined 34.23% so far in 2026, falling ₹41.80 from its level at the start of the year.
