NBCC to develop housing, commercial spaces worth Rs 16 Bn

13 Sep 2024 CW Team

State-owned NBCC (India) Ltd has entered into an initial agreement to develop a housing-cum-commercial project valued at Rs 6 billion on a 14-acre land parcel owned by MTNL on Pankha Road, Delhi. According to a statement issued by NBCC on Thursday, a Memorandum of Understanding (MoU) was signed with Mahanagar Telephone Nigam Ltd (MTNL) to jointly develop the land, which measures approximately 13.88 acres.

The project aims to transform the site into a modern residential and commercial space, drawing on the expertise and resources of both organizations. NBCC noted that the project is estimated to be worth Rs 16 billion. The MoU signing took place in the presence of K P Mahadevaswamy, CMD of NBCC, and A Robert J. Ravi, CMD of MTNL.

MTNL, a public sector telecommunications company, and NBCC, a Navratna enterprise under the Ministry of Housing & Urban Affairs, have both committed to this development. NBCC will serve as the executing and implementing agency, handling the master planning, architectural design, and detailed project reports, ensuring the project adheres to local town planning regulations.

The project will be carried out in phases over a three-year period from the commencement date, with the aim of maximising residential and commercial benefits. MTNL will provide the land, free of any encumbrances, and assist with obtaining the necessary regulatory approvals, while NBCC will manage the project, including tendering, construction, and post-construction activities.

NBCC's core businesses include project management consultancy (PMC) and real estate development.

Infrastructure Urban

09 Jan 2026

Teknovace, Remmers Forge Rs 3 Bn Deal for Global Coatings Hub

Teknovace has entered into a strategic global partnership with Germany-based Remmers Gruppe SE to build a large-scale, export-oriented wood coatings manufacturing platform in India. As part of the alliance, Remmers will make a strategic equity investment of Rs 3 billion to acquire a 50.01 per cent stake in Teknovace in two tranches, marking one of the largest foreign strategic investments in India’s wood coatings sector.The partnership comes at a time when India’s wood coatings market, valued at around $1.3 billion (Rs 100 billion), is growing at an estimated 11% annually, driven by demand..

Jyoti Structures Commissions Galvanisation at Second Nashik Unit

Jyoti Structures has commissioned galvanisation operations at its second tower manufacturing unit in Nashik, strengthening its in-house capabilities across critical stages of power transmission infrastructure production. The listed Engineering, Procurement and Construction (EPC) company operates globally and has delivered projects for customers across more than 50 countries.The second Nashik unit, with an annual manufacturing capacity of 36,000 metric tonnes, has become operational following the completion of installation, testing and readiness of the new galvanising facilities. With this deve..

Rosatom Connects First Kursk NPP-2 Unit to National Grid

Rosatom has launched the first power unit of the Kursk Nuclear Power Plant-2 (Kursk NPP-2) into Russia’s Unified Energy System, marking a key milestone in the country’s nuclear energy programme. The initial grid connection took place at the end of the year, bringing a new source of low-carbon electricity online for the Kursk region and the broader Central Energy System.The newly commissioned unit is the first implementation of the VVER-TOI reactor design, which incorporates advanced safety and performance features. With an installed capacity of 1,250 MW, it is the most powerful nuclear pow..