State-owned NBCC (India) Ltd on Wednesday (February 21) said it has been granted an in-principle approval by the Greater Noida Authority for the redevelopment of five projects associated with the Amrapali Group.
"This is to inform that NBCC (India) Limited has obtained the in-principle approval of Greater Noida Authority for the development of unused and purchasable FAR in furtherance of existing projects of Amrapali valuing ₹10,000 crore (approx.)," according to a stock exchange filing.
The projects, estimated at a value of around ₹10,000 crore, include Centurian Park (GH-05, Sector Tech Zone-IV, Greater Noida), Golf Homes (GH-02, Sector-4, Greater Noida), Leisure Park (GH-01, Tech Zone-IV, Greater Noida), Leisure Valley (GH-02, Tech Zone-IV, Greater Noida), and Dream Valley (GH-09, Tech Zone-IV, Greater Noida), all located in the Tech Zone-IV sector of Greater Noida.
NBCC (India) reported a net profit of ₹110.7 crore in the December 2023 quarter, registering a 60.2% year-on-year (YoY) increase from ₹69.1 crore in the same period last year. Its revenue from operations increased 13% to ₹2,412.6 crore against ₹2,135.8 crore in the year-ago period.
Shares of NBCC (India) Ltd ended at ₹139.30, down by ₹3.25, or 2.28%, on the BSE.
