NBCC (India) Limited , a prominent state-owned construction company, has announced a significant update to its previous work order from the Lokpal of India. The company has received a revised contract valued at approximately Rs 102.97 crore, excluding GST, marking a substantial increase from the earlier order of Rs 25.38 crore.

Contract Details

The fresh agreement replaces the previous order due to technical modifications. The scope of work includes:

• Repairing and retrofitting
• Interior fit-out works
• Upgradation of building infrastructure and services

These improvements are targeted at the Lokpal of India's office space located at 6, Vasant Kunj Institutional Area, Phase-II, New Delhi-110070.

Project Classification

NBCC has classified this project under its Project Management Consultancy (PMC) segment. The company confirmed that this business is part of its normal course of operations and has been awarded by a domestic entity.

Financial Implications

The revised contract value represents a significant increase of over 300% from the original order. This substantial enhancement in the project's scope and value could potentially have a positive impact on NBCC's order book and future revenue streams.

Transparency and Disclosure

In line with regulatory requirements, NBCC promptly disclosed this information to the stock exchanges. The company secretary, Deepti Gambhir, signed the official intimation. This timely disclosure demonstrates NBCC's commitment to transparency and adherence to corporate governance standards.

About Lokpal of India

The Lokpal of India, the client for this project, is an anti-corruption authority that investigates allegations of corruption against public functionaries. The upgradation of their office space suggests the government's focus on enhancing infrastructure for key oversight bodies.

This revised contract underscores NBCC's strong position in securing and executing government projects, particularly in the realm of infrastructure development and upgradation for important national institutions.

NBCC (India) Limited , a state-owned construction company, has announced securing a significant new order valued at approximately ₹102.97 crore. The contract, awarded by the Lokpal of India, involves extensive renovation and upgradation work for their office space in New Delhi.

Project Details

The scope of work for this project includes:

• Repairing and retrofitting of the existing structure
• Interior fit-out works
• Upgradation of building infrastructure and services

The project will be carried out at the Lokpal of India's office located at 6, Vasant Kunj Institutional Area, Phase-II, New Delhi-110070.

Contract Specifics

NBCC disclosed several key details about the contract:

Background

This new agreement replaces a previous order from the same client. NBCC had earlier received a work order from the Lokpal of India on January 5, 2024, valued at approximately ₹25.38 crore. However, due to technical reasons, the work under the previous order was modified, leading to this fresh agreement.

Company Statement

NBCC stated that this business is in the normal course of the company's operations. The construction giant has a track record of undertaking various infrastructure and real estate development projects across India.

This new order reinforces NBCC's position in the construction and project management sector, particularly in government and institutional projects. The company's expertise in renovating and upgrading office spaces for high-profile clients like the Lokpal of India demonstrates its continued trust in public sector infrastructure projects.