Explore overseas opportunities: New Housing Minister to NBCC

Housing Minister (MoS) Hardeep Singh Puri   

MINISTER of State for Housing and Urban Affairs (I/C), Hardeep Singh Puri on September 8 asked the government-owned construction major the NBCC to explore overseas opportunities and consider getting listed on foreign bourses, a senior official said on September 8.
The Housing and Urban Affairs Minister also advised the NBCC to participate in commercial bidding for taking up projects of Indian missions in various countries, he added.
The minister asked the NBCC to "think bigger" and increase its "international profile" as the construction sector had been opened to...
the foreign direct investment (FDI), the official said.
Reviewing NBCC's functioning, Puri also complimented the company for its rapid growth over the last three years with a total work order of about Rs 70,000 crore.
The NBCC (India) Ltd, formerly known as National Buildings Construction Corporation Ltd, is a government company under the Housing and Urban Affairs Ministry.
It is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
NBCC, a Navratna PSU under the Ministry of Urban Affairs. NBCC has been executing many landmark projects as a PMC which contributes to about 85% of its annual revenue. The segment being the PSU’s core strength, the areas covered under its umbrella include roads, hospitals and medical colleges, institutions, offices, airports, bridges, industrial and environmental structures among others.
The real estate segment of the PSU which came into being in 1988, mainly executing commercial real estate projects, has recently undergone a sea change operation wise. Keeping pace with the changing business scenario, NBCC, in order to enhance its margin viz-a-viz its faster growth, has restrategized its operation by putting added thrust in real estate and giving it a whole new dimension.
Recently, NBCC has taken over many redevelopment projects. The present realty business of the PSU could be viewed falling in two categories based on source of origin of the projects wherein NBCC buys land from private and government agencies alike, develops the land and sells it off; while others are sourced from government wherein, NBCC carries out re-development of such properties on a model. The New Motibagh Green Complex (Delhi) under General Pool Residential Accommodation (GPRA) Scheme is one of the finest examples of such a re-development work in recent times. The success of New Moti Bagh has earned it a huge dividend in the form of Govt awarding huge number of redevelopment projects to the Company. Apart from Redevelopment, the other category of the Real Estate also holds a great promise for the future of the Company as it has about 30 Residential & Commercial Real Estate Projects presently going on at various locations of the country and more are coming up with huge investments.