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State-owned NBCC Ltd has secured a project management consultancy (PMC) contract worth INR 780.38 crore from the Reserve Bank of India (RBI) for the development of an office complex and residential quarters in Amaravati, Andhra Pradesh. Under the project, NBCC will oversee the construction of the RBI's new office at Nelapadu and residential accommodation for its officers and staff at Inavolu. The order further strengthens NBCC's government project portfolio, where the company continues to execute large-scale institutional, infrastructure and redevelopment assignments across the country.
State-owned NBCC Ltd has secured a work order worth INR 780.38 crore from the Reserve Bank of India (RBI) for the construction of an office complex and residential quarters in Amaravati, Andhra Pradesh.
The company informed stock exchanges in a regulatory filing that it has been awarded the contract by the RBI. The project has been awarded under the project management consultancy (PMC) model, under which NBCC will manage and oversee the execution of the development.
As part of the assignment, NBCC will supervise the construction of the RBI's office complex at Nelapadu in Amaravati. The scope of work also includes developing a residential complex for the central bank's officers and staff at Inavolu in Amaravati.
NBCC, a Navratna public sector enterprise under the Ministry of Housing and Urban Affairs, has been executing government infrastructure, institutional and redevelopment projects across India through its project management consultancy business. The company also has a presence in the real estate segment through the development and marketing of residential and commercial projects.
The latest order adds to NBCC's growing portfolio of public sector and government assignments. In recent years, the company has secured several contracts for redevelopment, institutional buildings, housing projects and infrastructure works for various central and state government agencies, making its PMC business a key contributor to its order book.
Source PTI
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