NBCC keen to take up residential property projects
Real Estate

NBCC keen to take up residential property projects

National Buildings Construction Corporation (NBCC) is to take up residential real estate business keenly here onwards. Traditionally, NBCC, which is under the administrative control of the Ministry of Urban Development, has been providing project management consultancy services for construction projects, civil infrastructure for power sector, and real estate development.

Anoop Kumar Mittal, Chairman and Managing Director of NBCC said residential real estate is a possible revenue-earner, as no public sector enterprise has a pan-India presence. The company expects revenues from the real estate project to contribute about 30-35 per cent in the next three years. Speaking to Business Line, Mittal said the company has already acquired 150 acres as land bank.

Now, NBCC's thrust would be more on real estate with focus on public-private partnership. Recently it purchased land in Delhi-NCR and Bhubaneshwar. Acquiring land bank and constructing residential and commercial property will be a key focus area of the company. It has around 20 projects across the country, either under implementation or in the pipeline.

Mittal said that the company's aim is to have at least one project in every State by the end of the next two years. At least 80 per cent of these projects will be residential, and the balance 20 per cent commercial. The residential project will encompass premium residences and also flats for the economically weaker sections.

National Buildings Construction Corporation (NBCC) is to take up residential real estate business keenly here onwards. Traditionally, NBCC, which is under the administrative control of the Ministry of Urban Development, has been providing project management consultancy services for construction projects, civil infrastructure for power sector, and real estate development. Anoop Kumar Mittal, Chairman and Managing Director of NBCC said residential real estate is a possible revenue-earner, as no public sector enterprise has a pan-India presence. The company expects revenues from the real estate project to contribute about 30-35 per cent in the next three years. Speaking to Business Line, Mittal said the company has already acquired 150 acres as land bank. Now, NBCC's thrust would be more on real estate with focus on public-private partnership. Recently it purchased land in Delhi-NCR and Bhubaneshwar. Acquiring land bank and constructing residential and commercial property will be a key focus area of the company. It has around 20 projects across the country, either under implementation or in the pipeline. Mittal said that the company's aim is to have at least one project in every State by the end of the next two years. At least 80 per cent of these projects will be residential, and the balance 20 per cent commercial. The residential project will encompass premium residences and also flats for the economically weaker sections.

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