NBCC receives an order of Rs 15000 crore to develop Satellite Township in Srinagar, J&K

NBCC India secured a Rs 15,000 crore contract to develop a township in Srinagar, Jammu & Kashmir. The project, spread over 406 acres, aims to enhance urban infrastructure and living conditions. This significant order is set to create jobs and boost economic growth in the region.

On Friday, NBCC India, a public sector enterprise, secured a Rs 15,000 crore contract to develop a township in Srinagar, Jammu & Kashmir. The project entails the creation of a Satellite Township on 406 acres in Rakh-e-Gund Akshah, Bemina, as per the company's announcement.

The Srinagar Development Authority awarded the contract with the objective of enhancing urban infrastructure and improving living conditions in the region. NBCC confirmed the order in a statement, noting the development of the township as part of its routine business activities.

This project is anticipated to generate a multitude of job opportunities and invigorate economic growth, aligning with the government's vision for regional development. NBCC's shares are currently valued at Rs 182.81, reflecting an 8% increase at the time of this report. The company has seen its shares soar over 275% in the past year.

NBCC (India) Limited, formerly known as National Buildings Construction Corporation Limited, is a Navratna Enterprise under the Ministry of Housing and Urban Affairs. Incorporated in 1960 as a private company and becoming public in 2011, NBCC operates across India and overseas, offering services in Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC), and Real Estate.

(With inputs from agencies.)