State-owned NBCC Ltd should adopt new construction technologies for faster execution of projects and to ensure minimum damage to the environment, Housing and Urban Affairs Secretary Durga Shanker Mishra said on Monday. The secretary was speaking at an event to give farewell to NBCC's former chairman and managing director (CMD) Anoop Kumar Mittal, whose term ended on March 31, 2019.
Shiv Das Meena, additional secretary, Ministry of Housing and Urban Affairs, has been given the additional charge of the post of CMD. During Mittal's six-year tenure as CMD, Mishra said, NBCC's turnover jumped 2.5 fold to an estimated Rs 7,000 crore in 2018-19 from Rs 2,600 crore in 2012-13 .
The company achieved this growth despite demand slowdown in the real estate sector, he said. NBCC has become the first choice for redevelopment projects, Mishra said, adding that the company has been securing orders not only from the Centre but also state governments.
The government had denied service extension to Mittal till his date of superannuation, resulting in his demitting office a good 10 months before he would have retired. Speaking at the event, Mittal said NBCC has become a big company with Rs 90,000 crore order book and its brand value has grown significantly. He emphasised on the need to hire good talent for the future growth of the company.
Mittal joined NBCC in 1985 as an assistant engineer and rose through the ranks to head the company. He was appointed as the CMD in April 2013 for a five year period. Last year, he was given a one-year extension till March 31, 2019. Last week, sources said, the NBCC's parent ministry had recommended extension of Mittal's service till his superannuation in January 31, 2020, but the approval of the competent authority did not come.
NBCC is into project management consultancy and real estate businesses. It has bagged many prestigious projects in the last few years, including the redevelopment of Pragati Maidan in central Delhi. The company has bid for acquiring Jaypee Infratech, which is undergoing insolvency process. It is also completing some projects of Amrapali Group, as per the direction of the Supreme Court.
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