NBCC Secures Major Lucknow Mixed-Use Development Project

NBCC (India) Ltd has secured a significant work order in Lucknow valued at Rs 3,500 crore for a mixed-use development project. The project will be executed under a Memorandum of Understanding with Sarkari Awas Nirman Avam Vitt Nigam Ltd, with NBCC acting as Project Management Consultant for the site's development.

State-owned NBCC (India) Ltd has won a substantial Rs 3,500-crore contract for a mixed-use development project in Lucknow. The announcement was made in a regulatory filing on Monday.

The Memorandum of Understanding, signed with Sarkari Awas Nirman Avam Vitt Nigam Ltd, will see NBCC take on the role of Project Management Consultant for the development of Poorvi Vihar, a 588-acre site.

NBCC's responsibilities include the planning, design, and execution of a 50-acre encumbrance-free site. The project will operate on a 'deposit on work' basis with NBCC charging a 10% agency fee plus applicable GST and taxes.

(With inputs from agencies.)