New Consolidated Construction Company Ltd (NCCCL), now backed by Nisus Finance Services Co Limited, has secured a significant ₹112.50 crore contract from realty firm Lodha Developers for Tower 1 and associated non-tower structures at their expansive 200+ acre Mandwa, Alibaug development. According to reports from Economic Times and other sources, the contract was awarded through a competitive bidding process and forms part of Phase 1 of the township, encompassing reinforced cement concrete (RCC) construction covering the project's core structural package. The mandate involves a total built-up area of approximately 7.26 lakh sq ft, with the contract value being ₹112.50 crore exclusive of GST, representing the first residential tower within the flagship township project. Nisus Finance Services acquired a majority stake in NCCCL through a management-led buyout in August 2025, supporting the company's long-term growth across large-scale construction and infrastructure projects.
The project features a sophisticated G+3 podium with 35 upper floors configuration, along with overhead tanks (OHTs), lift machine rooms (LMRs), and G+3 non-tower ancillary structures. Construction will be executed using a monolithic RCC system with aluminium formwork (Aluform), a methodology widely adopted for high-rise residential projects requiring speed, consistency, and structural precision. NCCCL's extensive experience with this system across comparable developments underpins its execution strategy for the project, focusing on the most execution-intensive and schedule-critical components of high-rise residential construction.
Construction at the Mandwa, Alibaug site is scheduled to commence around mid-January 2026, with an estimated execution period of approximately 24 months. According to the latest reports from Economic Times, the project represents a substantial undertaking for NCCCL, involving the most execution-intensive and schedule-critical components of a high-rise residential development. The timeline indicates completion is expected by mid-January 2028, with the project forming a crucial component of the larger township development.
This contract marks the third collaboration between NCCCL and the Lodha Group, demonstrating a strengthening business relationship between the two companies. Previously, NCCCL completed a residential project at Palava spanning approximately 13 lakh sq ft across 11 towers, and constructed a commercial building in Thane for the Lodha Group. According to latest reports, the ₹112.50 crore contract is expected to contribute meaningfully to NCCCL's order book and revenue pipeline over the next two years, strengthening its position in the premium real estate construction segment. The successful completion of these prior projects established credibility on execution parameters, enabling continued repeat collaboration and likely contributing to NCCCL's selection for the current Alibaug development through the competitive bidding process.
Commenting on the award, Mahesh Mudda, Vice Chairman and Managing Director, NCCCL, emphasized the strategic importance of the partnership. "This mandate reinforces the depth of our working relationship with Lodha Developers. Selection through a competitive process underscores the importance placed on execution capability, planning discipline, and governance across extended construction cycles," Mudda stated. Himanshu Vakharia, Executive Director – Operations, NCCCL, added: "Large residential projects demand sustained execution reliability over long timelines. Our experience across asset classes and geographies allows us to integrate engineering coordination, workforce readiness, quality controls, and process discipline to deliver predictable outcomes." Established in 1946, NCCCL is a Mumbai-based engineering and construction company with extensive experience across residential, commercial, industrial, and institutional projects. The company is ISO 9001, ISO 14001, and OHSAS 18001 certified, following globally recognized standards for quality, environmental management, and occupational safety.
