NBCC India Ltd has received in-principle approval from the Greater Noida Authority for the development of unused and purchasable FAR to take forward its existing Rs 10,000 crore project from Amrapali, the company said in a stock exchange filing.
Government construction company NBCC has informed that it has received approval from Noida authority to develop five Amrapali projects worth Rs 10,000 crore. NBCC India Ltd has gotten on a fundamental level endorsement from the More noteworthy Noida Expert for the improvement of unused and available FAR to take forward its current Rs 10,000 crore project from Amrapali, the organization said in a stock trade recording. On Thursday, the company's shares closed at Rs 146.15 on BSE with a gain of 5 percent.
The project will be developed by the company- NBCC which will develop five projects, including Centurion Park GH-05, Sector Tech Zone- IV, Greater Noida, Golf Homes GS-02, Sector-4, Greater Noida Leisure Park GH-01, Tax Zone- IV, Greater Noida, Leisure Valley, GH-02 Tech Zone IV, Greater Noida and Dream Valley, GH-09 Tech Zone-IV, Greater Noida. In December 2023, NBCC announced the sale of 5,000 units in several residential projects of the Amrapali Group for Rs 2,900 crore.
As directed by the Supreme Court, the Amrapali Stalled Project Investment Reconstruction Establishment (ASPIRE) was created by the NBCC to complete the stalled Amrapal project.
The company has recently received 3 large orders - NBCC (India) has informed in an exchange filing that the company has received 3 orders worth a total of Rs 369 crore. Among these orders, the company has received orders worth Rs 331.9 crore for infrastructure work from Rani Lakshmibai Central Agricultural University, Jhansi.
Apart from this, the company has received an order of Rs 12.17 crore from the Telangana High Court for a single court complex and residential quarters. The company received Rs. 24.98 crore order received. The total value of this order is Rs 369 crore.
Today Rate NBCC (NSE) : 146.00 ▲ 4.89%
NBCC Shares Price Target NSE, BSE:
According to market expert Vikas Sethi, the approval for the Rs 10,000 crore project is a positive trigger for the stock.
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