NBCC (India) Limited announced on June 24 that it has bagged a project worth Rs 100 crore to construct a new training centre and renovate the existing buildings of REC Institute of Power Management Training at Hyderabad.

The REC Institute of Power Management Training (RECIPMT) owns 14 acres of land in Hyderabad. With the award of executing this work, NBCC will strive to facelift the old buildings and develop new infrastructure for equipping state-of-the-art facilities within the institute, the company said.

Out of a total project cost of Rs 100 crore, Rs 60 crore would be used for the construction of the new training centre, hostel, classrooms, auditorium, kitchen/dining facility, landscaping in the entire campus, etc. The remaining Rs 40 crore is expected to be spent on the demolition of the old/ unsafe existing elevated service reservoir, its new construction with modified design/ capacity, and renovation of existing RECIPMT buildings comprising office buildings, classrooms, hostels, and allied buildings.

This is the first such assignment secured by the PSU under the Ministry of Housing and Urban Affairs by participating in a tender through the GeM portal as a seller. NBCC secured this tender on the Quality Cost Based System (QCBS) method by receiving the highest marks after competing with other bidders through the GeM.

NBCC reported net sales at Rs 4,024.50 crore in March 2024, up 44.25 percent from Rs 2,789.96 crore in March 2023. The company's quarterly net profit stood at Rs 136.08 crore in March 2024, up 25.53 percent from Rs 108.41 crore in March 2023, while its EBITDA stood at Rs 294.65 crore in March 2024, up 87.14 percent from Rs 157.45 crore in March 2023.

2024-06-24T15:07:28Z dg43tfdfdgfd