Srinagar: National Buildings Construction Corporation (NBCC) Limited has secured a contract worth ₹15,000 crore from the Srinagar Development Authority to develop a satellite township covering 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar, Jammu and Kashmir (J&K). Following the announcement, NBCC (India) shares surged by up to 8.67%, reaching ₹183.55.
The value of this contract represents approximately 45% of the company's current full market capitalisation, which stands at ₹33,048 crore.
NBCC (India) operates in three primary segments: project management consultancy, real estate, and engineering procurement and construction. The company reported a consolidated net profit of ₹141.49 crore for Q4 FY24, marking a 24.52% increase compared to the same quarter in the previous financial year. Additionally, revenue from operations saw a 42.86% rise, reaching ₹3,936.98 crore in Q4 FY24. /BI
