NBCC sells 560 flats in Greater Noida for Rs 1,153 crore through e-auction

The state-owned construction major conducted the sale through an e-auction, the company said in a stock exchange filing.

The NBCC will also earn a 1 per cent marketing fee on the total value of the sale, as part of its regular business operations.

This major e-auction follows a similar successful sale earlier in the week when the company sold 1,185 flats at Aspire Dream Valley Phase-III, Greater Noida, for Rs 1,504.69 crore.

The NBCC has also been expanding its project portfolio. In recent weeks, the Navratna public sector enterprise under the Ministry of Housing and Urban Affairs won new contracts for construction and renovation work.

These include a multistorey court building in Gudivada, Andhra Pradesh, worth Rs 46.69 crore, a court complex in Bhimavaram, valued at Rs 72.17 crore, and renovation of the TEC Building in New Delhi for Rs 2.04 crore.

Additionally, the NBCC signed a Memorandum of Understanding (MoU) with RailTel Corporation of India on April 7 to jointly develop data centre projects across India and abroad over the next five years.

Shares of the NBCC responded positively to the development, rising as much as 3.41 per cent during the trading session to touch Rs 90 on Friday on the Bombay Stock Exchange (BSE).

Over the past 12 months, the stock has shown marginal growth of 0.04 per cent, although it has fallen by 4.14 per cent so far this year.

In its latest financial results, the NBCC reported a 17 per cent rise in revenue to Rs 2,827 crore in the third quarter (Q3) of FY25, compared to Rs 2,423.5 crore in the same period last year (Q3 FY24).

The company's net profit also jumped 25 per cent to Rs 138.5 crore from Rs 110.7 crore a year ago -- reflecting its strong growth momentum.