NBCC sells office space worth Rs 83 cr

NBCC sells office space worth Rs 83 crNEW DELHI: State-owned NBCC has said it has sold nearly 28,000 sq ft office space at Okhla in the national capital to Balmer Lawrie & Co for Rs 83 crore. In a filing to the BSE, the company informed that it has “sold office space measuring 27,769 sq ft at NBCC Centre, Okhla, Phase-1, New Delhi to Balmer Lawrie & Co for a total value of Rs 83.31 crore”.
The profit margin available to NBCC against this deal will be about Rs 55 crore, it added. NBCC (India), a Navratna enterprise under the Ministry of Housing and Urban Affairs, present areas of operations are categorized into three main segments – project management consultancy (PMC), real estate and EPC contracting. With consolidated revenue of Rs 6,401 crore, NBCC has been growing with a consistent upward trajectory of 20 percent CAGR in the past five years. PTI

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