NBCC inks pact with HUDCO to execute projects worth Rs 117 crore

NBCC inks pact with HUDCO to execute projects worth Rs 117 crore.

State-owned NBCC (India) Ltd has signed an initial pact with HUDCO to develop projects worth Rs 117 crore.

In a statement on Monday, NBCC said it has signed a Memorandum of Understanding (MoU) with the Housing and Urban Development Corporation Ltd (HUDCO) to "execute transformative development projects in Panchkula, Kaushambi, Ahmedabad and New Delhi." The MoU was signed by Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and K P Mahadevaswamy, Chairman and Managing Director of NBCC.

Under this agreement, NBCC will develop a commercial complex at Kaushambi in Ghaziabad, an integrated redevelopment of HUDCO's land parcel at Panchkula, in Haryana and construction of new blocks at HUDCO’s Regional Office in Ahmedabad.

It would also include the reconstruction of residential flats at the Asian Games Village Complex in the national capital.

"Together, these projects represent a combined investment of more than Rs 117 crore and will be executed on a turnkey basis by NBCC," the statement said.

NBCC is into project management consultancy and real estate business.