State-owned NBCC (India) Ltd has marked its entry into international real estate markets with the acquisition of prime land in Dubai for AED 15 million, equivalent to ₹37 crore. The strategic purchase represents the company's first step in expanding its real estate business beyond Indian borders.

Strategic Land Acquisition in Dubai

The company announced in a regulatory filing on Wednesday that it has purchased the land through NBCC Overseas Real Estate LLC, a wholly-owned subsidiary established specifically for overseas operations. The acquisition details highlight the company's commitment to international expansion:

Company's Core Business Operations

NBCC operates primarily in two key segments - project management consultancy and real estate development. The Dubai venture marks a significant diversification of its real estate portfolio into international markets, leveraging its established expertise in construction and development.

Growing Indian Presence in Dubai Real Estate

The move positions NBCC among a growing list of Indian real estate companies expanding into Dubai's property market. Sobha Group has already established a significant presence in Dubai real estate, while Sunteck Realty recently announced its foray into the Dubai market. The Dubai property sector continues to attract substantial investment from Indian nationals, making it an attractive destination for Indian real estate developers.

Market Expansion Strategy

This acquisition represents NBCC's inaugural step into overseas real estate operations, with the Dubai Mainland location chosen for its prime positioning and mixed-use development potential. The establishment of NBCC Overseas Real Estate LLC as a dedicated subsidiary demonstrates the company's structured approach to international market entry and its commitment to building a sustainable overseas presence.

Rail Vikas Nigam Limited has announced a significant leadership transition with the appointment of a new Chairman & Managing Director and the cessation of the incumbent from the top position.

Leadership Transition at RVNL

Shri Sukhmal Chand Jain (DIN: 07564584) ceased to hold the position of Chairman & Managing Director of the company effective December 23, 2025. Simultaneously, Shri Saleem Ahmad (DIN: 10119432), who was serving as Director (Projects) at NBCC (India) Ltd., has assumed charge as the new Chairman & Managing Director of Rail Vikas Nigam Limited from the same date.

New CMD Profile and Experience

Shri Saleem Ahmad brings over 35 years of extensive experience in the construction sector to his new role. He holds a degree in Civil Engineering from Jamia Millia Islamia University, New Delhi. His professional background encompasses the execution of large-scale infrastructure projects, with specialized expertise in bridges, tunnels, as well as residential and commercial developments.

Prior to joining NBCC, Ahmad served as Executive Director (Civil) at Delhi Metro Rail Corporation Ltd. and previously held a position at Mumbai Port Trust. Throughout his distinguished career, he has contributed significantly to sustainable infrastructure, presenting papers at national and international forums and playing a pivotal role in designing and implementing last-mile connectivity solutions during his tenure at DMRC.

Updated Board Composition

Following the leadership change, the current list of directors at Rail Vikas Nigam Limited includes:

Regulatory Compliance and Approvals

The appointment has been approved by the competent authority through the Ministry of Railways. The appointment letter specifies that Ahmad will serve in the scale of pay of Rs. 2,00,000-3,70,000/- (IDA) with effect from the date of his assumption of charge until his superannuation date of April 30, 2029, or until further orders, whichever is earlier.

The company has confirmed compliance with SEBI regulations, stating that the new CMD has not been debarred from holding the office of director by virtue of any SEBI order or any other authority. Ahmad is not related to any other director of the company and holds no equity shares in Rail Vikas Nigam Limited.

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring proper disclosure to stakeholders and stock exchanges.