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NBCC Sells Office Space at NBCC Centre, New Delhi for RS 83.31 Cr.

Jun 28th, 2018 6:02 pm | By | Category: LATEST NEWS

Dr. AK Mittal, CMD, NBCC (I) Ltd.

Dr. AK Mittal, CMD, NBCC (I) Ltd.


(THE NEWSMAN OF INDIA.COM)
New Delhi, June 28: Navratna Central Public Sector Undertaking NBCC (India) Limited has sold 27,769 sqft office space at the upmarket NBCC Centre in Okhla Phase 1 in the national capital to Balmer Lawrie & Co for a total value of Rs 83.31 crore.

The office is part of the strategically located ‘NBCC Centre’, a Commercial Complex developed by the company that offers world class amenities, makes it one of its kind office building in the vicinity. “The Profit margin available to NBCC against the said deal will be approximately Rs. 55 cr,” NBCC said.
NBCC Centre comprisesthree basements andground plus 8 stories having a total saleable area of approximately 2,36,251 sqft. The construction of the building was completed and completion certificate was obtained from DDA on 29/06/2015.
With this sale, approximately 75 per cent of the commercial space at NBCC Centre stands sold. Some of the leading companies which have taken up office space in the centre are Oil India Ltd., Bharat Dynamics Ltd., Council of Architecture, National Insurance, New India Assurance and Oriental Insurance Company Ltd. NBCC’s present areas of operations are categorised into three main segments project management consultancy (PMC), real estate and EPC contracting. The current order book outstanding of the company stands at Rs 80,000 cr. Dr. A K Mittal is the CMD of NBCC (India) Limited.

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