Connect with us


NBCC Signs Annual MOU With Ministry For Fy 2019-20


NBCC (India) Ltd., a Navratna CPSE under the Ministry of Housing and Urban Affairs (MoHUA), Govt. of India, has signed a Memorandum of Understanding (MoU) for the FY 2019-20 with its administrative Ministry today.  The signed MoU outlines performance targets for the Company based on various financial parameters, dynamic parameters, sector-specific and enterprise-specific parameters. Sales turnover of the company has been fixed at Rs. 9,500 crore and operating profit has been targeted at 5% of revenue from operations (net). Profit After Tax (PAT) has been targeted as 27% of Average Net Worth.

Further, this year’s MoU has laid specific emphasis on achieving set parameters with respect to the completion of projects above Rs. 150 crore without time overrun. Among other additional parameters significant to the MoU, include new order book target, return from three subsidiaries of the company, Human Resource Management and procurement of large number of overseas orders.

The annual MoU has been signed by Shri Durga Shanker Mishra, IAS, Secretary (HUA), Govt. of India, on behalf of the MoHUA and Shri Shiv Das Meena, CMD, NBCC, on behalf of NBCC. Senior Executives from the Ministry and NBCC were also present on the occasion.

Giving a broad outlook to the Company’s future operations and growth scale, CMD, NBCC said that NBCC is aggressively focusing upon project implementation to convert the projects in-hand into deliverables, thereby enhancing its brand value. Capitalizing on new market opportunities by strengthening its core competencies, pursuing high-value projects in domestic and overseas markets and diversifying into new areas of operation, NBCC is poised to achieve enviable heights this year onwards.

During the FY18-19, NBCC (India) Ltd. has registered a turnover of Rs. 7,141.60 crore (21.63% growth over the previous year) and net profit of Rs. 384.11 crore (an increase of 15.14% over the previous year).


Latest News

Events21 hours ago

Danube Properties’ Dh525 million Opalz sold out on the first day of launch

October 4, 2022: Danube Properties, the UAE-based affordable housing developer, said, its latest project Opalz, a twin-tower residential project with...

Events21 hours ago

Pacific Mall D21’s ‘Dussehra Celebrations’ drops the curtain with high attendance

New Delhi: Pacific Mall D21 organised a two-day Dussehra celebration and Garba Night, attracting massive turnouts. The special arrangement of...

News21 hours ago

Tata Value Homes sells over 100 residential units at New Haven, Bahadurgarh at launch

Delhi/Haryana October 4, 2022: With an aim to address the growing demand for quality homes in Haryana – Bahadurgarh, Tata...

New Launches21 hours ago

Welspun Corp opens steel plant in Anjar

October 3, 2022, Anjar, Gujarat: Welspun Metallics Limited, a subsidiary of Welspun Corp Limited (WCL), the flagship company of the Welspun...

Events2 days ago

Over 1500 cyclists join Hiranandani Thane Cyclothon 2022 to support ‘Rhyme for Earth’ initiative

October 2, Thane: The Hiranandani Group hosted the first Hiranandani Thane Cyclothon today from its thriving Thane township, Hiranandani Estate. Over...

New Launches2 days ago

Ashiana Housing adds over 900 senior living units with Villas and Apartments with the launch of Ashiana Advik in Bhiwadi

New Delhi, October 3, 2022: New Delhi-based real estate developer Ashiana Housing has announced the launch of Ashiana Advik in Sector 39, Bhiwadi....