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NBCC signs annual MoU with Urban Affair ministry

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photo (3)Navratna CPSE National Buildings Construction Company (NBCC) has signed a memorandum of understanding (MoU) with the Ministry of Urban Development for the FY 2015-16. The annual MoU was signed by Madhusudan Prasad, Secretary (UD),on behalf of the ministry and Anoop. K. Mittal, CMD of the NBCC.

The MoU for 2015-16 sets out certain performance targets for the company based on financial parameters, dynamic parameters, sector-specific and enterprise-specific parameters. While the sales turnover has been targeted at Rs.4,600crore, new order during the year is aimed at Rs.6,500 crore and gross operating margin rate for the company has been set at 11.20 per cent.