NBCC dismisses reports of plans to set up NBFC

Dismissing reports about NBCC planning to set up a non-banking finance company (NBFC), NBCC Chairman Anoop Kumar Mittal said that there is no proposal to launch an NBFC. He stressed that NBCC is a construction company and we invest in redevelopment projects.NBCC manages land assets of sick public sector units and the company will soon have discussions with sick PSUs over revenue generation, he said. The company has also bagged three orders from Labour Ministry to construct hospitals in Uttarakhand and Madhya Pradesh. The value of the orders is Rs 475 crore which takes NBCC's total order book to Rs 73,000 crore.At 1250 pm, NBCC stock was trading at Rs 278.20, 1 percent lower than previous close.Watch videos for more...