NBCC Signs MoU for Rs 37 Billion Project Near Jaipur Airport

15 Sep 2025 CW Team

The collaboration covers the development of the Rajasthan Mandapam Convention Centre, Unity Mall, and allied commercial and cultural infrastructure on a 95-acre site along Tonk Road. The initiative aims to position Jaipur as a premier destination for global conventions and retail activity, combining world-class design with the city’s rich cultural heritage.

The MoU signing ceremony was attended by Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, Chief Secretary Sudhansh Pant, Additional Chief Secretary to the CM and RIICO Chairman Shikhar Agrawal, NBCC Chairman and Managing Director K.P. Mahadevaswamy, and other senior officials.

NBCC, as the exclusive executing agency, will manage master planning, architectural design, engineering, construction, and international-standard marketing. The project will operate on a self-financing model, with RIICO providing an initial interest-free advance of Rs 500 million. Further mobilisation will come from the sale and lease of developed spaces and plots, with NBCC able to leverage public financial institutions to ensure smooth funding.

Government financial support of up to Rs 6.35 billion has been earmarked for the Rajasthan Mandapam, highlighting the strategic importance of the project. A joint empowered committee will oversee progress and quality, aiming for completion within 30 months of receiving statutory and internal approvals.

NBCC stated that the development reflects a strong partnership between the Government of India and the Government of Rajasthan, contributing to economic growth, cultural promotion, and employment generation in the region. Shares of NBCC closed 2.49 per cent higher at Rs 108.15 on the NSE on Thursday, ahead of the announcement.

State-owned NBCC (India) Ltd announced on Thursday that it has signed a Memorandum of Understanding (MoU) with Rajasthan State Industrial Development and Investment Corporation (RIICO) for infrastructure projects worth around Rs 37 billion near Jaipur International Airport.The collaboration covers the development of the Rajasthan Mandapam Convention Centre, Unity Mall, and allied commercial and cultural infrastructure on a 95-acre site along Tonk Road. The initiative aims to position Jaipur as a premier destination for global conventions and retail activity, combining world-class design with the city’s rich cultural heritage.The MoU signing ceremony was attended by Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, Chief Secretary Sudhansh Pant, Additional Chief Secretary to the CM and RIICO Chairman Shikhar Agrawal, NBCC Chairman and Managing Director K.P. Mahadevaswamy, and other senior officials.NBCC, as the exclusive executing agency, will manage master planning, architectural design, engineering, construction, and international-standard marketing. The project will operate on a self-financing model, with RIICO providing an initial interest-free advance of Rs 500 million. Further mobilisation will come from the sale and lease of developed spaces and plots, with NBCC able to leverage public financial institutions to ensure smooth funding.Government financial support of up to Rs 6.35 billion has been earmarked for the Rajasthan Mandapam, highlighting the strategic importance of the project. A joint empowered committee will oversee progress and quality, aiming for completion within 30 months of receiving statutory and internal approvals.NBCC stated that the development reflects a strong partnership between the Government of India and the Government of Rajasthan, contributing to economic growth, cultural promotion, and employment generation in the region. Shares of NBCC closed 2.49 per cent higher at Rs 108.15 on the NSE on Thursday, ahead of the announcement.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..