NBCC India Slips 2% After Rs 485-Crore Noida Sale

Shares of NBCC India Ltd fell 2% after hitting a day’s high of Rs 113.08 on 8th December, despite the company announcing the successful completion of the e-auction for residential units at Aspire Leisure Valley Package-1, Sub-Package-8 in Greater Noida (West), Uttar Pradesh.

NBCC sold 175 residential units in Iconic Tower No. 13 for about Rs 485.41 crore through an e-auction. It will earn a 1% marketing fee on the total sale value.

Earlier this week, NBCC secured five construction and redevelopment orders worth Rs 665 crore. The largest was a Rs 642.82-crore project from the Ghaziabad Development Authority to redevelop Tulsi Niketan.

A Rs 4.05-crore order came from the Institute of Cost Accountants of India. This was for renovation and repair work across its Hyderabad, Kolkata and Kottayam centres.

The National Forensic Science University awarded NBCC a Rs 6.95-crore contract to renovate its guest house at the Delhi campus.

Two more orders, worth Rs 4.42 crore and Rs 7.14 crore, were placed by the Institute of Company Secretaries of India for new buildings at its Kanpur and Lucknow Chapter premises.

At 12:33 PM, shares of NBCC India were trading 2.61% lower at Rs 109.13 on NSE.

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