NEW DELHI: State-owned NBCC today said it has sold nearly 28,000 sq ft office space at Okhla in the national capital to Balmer Lawrie & Co for Rs 83 crore.
In a filing to the BSE, the company informed that it has “sold office space measuring 27,769 sq ft at NBCC Centre, Okhla, Phase-1, New Delhi to Balmer Lawrie & Co for a total value of Rs 83.31 crore”.
The profit margin available to NBCC against this deal will be about Rs 55 crore, it added.
NBCC (India), a navratna enterprise under the Ministry of Housing and Urban Affairs, present areas of operations are categorised into three main segments — project management consultancy (PMC), real estate and EPC contracting.
With consolidated revenue of Rs 6,401 crore, NBCC has been growing with a consistent upward trajectory of 20 per cent CAGR in the past five years.
Source: Press Trust