State-owned construction firm NBCC (India) Ltd on Friday, March 1, said that it has sold 2.05 lakh sqft of commercial space for ₹828 crore in Delhi.
NBCC Ltd, acting as project management and marketing consultant on behalf of the Ministry of Housing and Urban Affairs oversaw the 24th auction for the sale of commercial space at the World Trade Centre in Nauroji Nagar in New Delhi.
The auction took place on February 29, 2024, the public sector construction major said in a stock exchange filing.
The company has successfully sold approximately 2.05 lakh sqft of previously unsold commercial inventory, aggregating to ₹827.78 crore in value. This includes 0.53 lakh sqft sold to private entities for ₹222.35 crore.
Additionally, to date, the central public sector undertaking (PSU) has sold a total of 26.45 lakh sqft of unsold commercial inventory through open e-auctions, amounting to ₹10,675.6 crore in sales value.
On Thursday, the PSU announced that its wholly-owned subsidiary HSCC (India) Ltd received a contract worth Rs. 459.7 crore from Maharashtra government for the construction of a 600-bed general hospital, a 250-bed cancer hospital, and a 250-bed super specialty hospital in Kolhapur.
Also, the state-owned firm disclosed signing a Memorandum of Understanding (MoU) with IFCI Ltd for the planning and execution of infrastructure projects totaling ₹150 crore. The agreement also encompasses repair or renovation works for IFCI's properties across India.
The construction firm also reported the successful completion of an e-auction for a commercial built-up area spanning 61,000 square feet in New Delhi, fetching a total of ₹273 crore.
The commercial space sold through e-auction is a component of the redevelopment project overseen by NBCC for AIIMS Delhi. The base sale price for this project is set at ₹36,000 per square foot.
Shares of NBCC Ltd were trading 0.29% lower at ₹134.85 apiece on BSE at 12:10 pm.
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