The company also aims to increase annual profit to Rs 5,000 crore in five years from Rs 400 crore currently by focusing on real estate development and redeveloping land that are not utilised by other PSUs.
“Covid impacted the overall performance of NBCC but we are back on track and have a healthy pipeline of projects. We have an order book of Rs 55,000 crore and we plan to take orders worth Rs 15,000-20,000 crore every year. We have prepared a roadmap to reach Rs 25,000 crore revenue in the next five years,” said Mahadevaswamy.
The company had reported Rs 8,900 crore revenue in 2022-23, and expected to reach Rs 11,000 crore in 2023-24.
Apart from project consultancy, NBCC plans or focus of redevelopment and real estate projects to increase the revenue.
“We are in discussion with a number of PSUs who have vacant land and we are looking to utilities it commercially. We have an expertise in that after successfully doing it in Delhi. This will be a big business for us going forward,” the CMD said.Last week, NBCC sold 223,000 sq ft of commercial space in south Delhi’s Nauroji Nagar for Rs 905 crore to 13 different companies.With this, the company has sold a total commercial inventory of 23.92 lakh sq ft through open e-auction having sale value of Rs 9656.62 crore.
The government had announced redevelopment of seven housing colonies in Delhi, of which three—Nauroji Nagar, Netaji Nagar and Sarojini Nagar—were assigned to NBCC.
The total cost of the project is pegged at Rs 32,000 crore, of which around Rs 12,000 crore will be realised from the sale of Nauroji Nagar project and another Rs 20,000 crore from Sarojini Nagar. In Nauroji Nagar, a commercial hub will be developed in 25 acres.
NBCC will also focus on rural infrastructure as it wants to be the part of growth story of India by helping the farmers.
NBCC has recently signed a framework Memorandum of Understanding (MoU) with National Cooperative Development Corporation (NCDC) and National Bank for Agriculture and Rural Development (NABARD) for construction of world’s largest grain storage plan in cooperative sector.
“Every year we hear about wastage of crop. We are taking this project on a priority basis and from next year, farmers won’t have to travel long distance to store grain. This will be a big boost for rural economy,” said Mahadevaswamy.
NBCC will initially construct 1469 grain storage units across various states of India with an approximate value of Rs 1500 crore.
