NBCC Wins Rs 55-Crore Contract from Indian Overseas Bank

NBCC (India) Ltd kicked off the week with two key developments. The week was led by the announcement of a fresh domestic work order from Indian Overseas Bank (IOB), worth around Rs 55.02 crore.

The contract covers the planning, design, execution and final handover of IOB’s new regional office in Raipur. NBCC will handle the assignment as a project management consultant. Moreover, a domestic entity has awarded the order and it will be executed entirely within India. However, the company has not shared a timeline for the project’s completion.

In a separate update, NBCC said its wholly-owned subsidiary, HSCC (India) Ltd, entered into a memorandum of understanding (MoU) with Bharat Electronics Ltd (BEL) on Monday, 12th January. The companies plan to build a strategic partnership in the healthcare manufacturing and services space.

Under the MoU, HSCC and BEL will collaborate across multiple areas. This includes the manufacturing and supply of medical devices, healthcare IT and digital solutions, consultancy services, project execution, joint procurement, and annual maintenance and warranty support. Furthermore, the partnership will also involve advisory services for healthcare-related projects.

NBCC clarified that the agreement serves as a broad framework for cooperation. Project-specific terms will be finalised separately as opportunities arise. The company added that the MoU was signed in the normal course of business of its subsidiary.

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