New Delhi: NBCC (India) Limited has signed a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Limited (MTNL) to jointly develop a major land parcel in New Delhi. The collaboration involves transforming the 13.88-acre land, located on Pankha Road, into a modern residential and commercial complex, with the project valued at approximately Rs 1,600 crore.

Both NBCC and MTNL will bring their respective resources and expertise to the venture, which is expected to enhance the urban landscape in the area. The move marks a significant development for NBCC as it continues to solidify its presence in the infrastructure sector.

This partnership with MTNL comes on the heels of an earlier agreement NBCC signed with RITES, a deal focused on consultancy and fee-based projects, as well as engineering, procurement, and construction (EPC) contracts. The new MoU with MTNL further expands NBCC’s portfolio in real estate and infrastructure development. /BI