National Buildings Construction Corporation Ltd (NBCC) is eyeing business overseas and exploring the possibilities of projects in Oman, Botswana and neighbouring countries.
“The company is opening office branches in Botswana and Oman and has tied up with a company in Oman for development of an infrastructure project that could hopefully book some revenue in the last quarter this fiscal.” NBCC Chairman and Managing Director Anoop Kumar Mittal said.
“We are also looking at opportunities in Sri Lanka, Bangladesh and Myanmar,” SK Pal, Director (Finance), said.
“State Governments of Odisha and Rajasthan have also assigned projects to NBCC.”
The company is currently engaged in redevelopment of East Kidwai Nagar, New Delhi, which is a ₹5,000-crore project.
Net profit up 24% NBCC has posted a net profit of ₹257 crore in 2013-14, up over 24 per cent compared with 2012-13. While the total income rose to ₹4,098 crore, a growth of 25.71 per cent, the net worth of the company touched ₹1,141 crore, he said. The board of directors has also recommended a dividend of ₹5 per equity share amounting to ₹60 crore for FY 2013-14, compared with ₹45 crore the previous fiscal.
The mini Ratna plans to develop housing projects in Faridabad (Haryana), Alwar (Rajasthan), Ghaziabad (Uttar Pradesh) and Kolkata. Faridabad will see two towers with 300-400 houses. “NBCC is planning a total of 1,000 housing units (2 BHK to 4 BHK) across cities this year, apart from 200 service apartments in Lucknow,” Mittal said.
The housing project in Patna (Bihar) should kick off in next six months. Two high-end projects being developed in Gurgaon will take 18-24 months, and the second phase of mid-segment projects in Alwar 12-15 months.