NBCC (India) Limited has informed stock exchanges about receiving tax demand orders from Central Goods and Services Tax (CGST) authorities totaling ₹94.51 crores, including penalties and interest. The company disclosed this information under Regulation 30 of SEBI Listing Regulations on January 20, 2026.

Tax Demand Details

The company received orders from two different CGST authorities with varying demand amounts and violation allegations:

*Total demand including penalty for overseas work

Nature of Violations

The tax authorities have raised demands based on different grounds. The Principal Commissioner of Central Goods & Service Tax, Delhi South Commissionerate issued demands related to two overseas projects executed by NBCC as Project Management Consultant (PMC) in overseas countries. These projects have been completed and handed over to overseas recipients.

The second authority, GSTO Ward 115, Zone 12, raised demands for FY 2021-22 focusing on Input Tax Credit (ITC) issues:

• ITC apportionment requirements under Rules 42 and 43 of CGST Rules
• Reversal of proportionate ITC attributable to exempt supplies
• ITC reversal for claims from cancelled dealers, return defaulters, and tax non-payers

Timeline and Company Response

NBCC received the tax demand orders on December 26, 2025, and December 31, 2025, respectively. The company has stated it is in the process of taking necessary steps to file appeals against both orders before the appropriate authorities.

Financial Impact Assessment

Despite the substantial demand amount of ₹94.51 crores, NBCC has indicated it does not anticipate any material impact on its financial, operational, or other business activities as a result of these orders. The company's confidence appears to stem from its plan to challenge these demands through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. NBCC provided detailed information as required under Para A of Part A of Schedule III, ensuring transparency with stakeholders about the tax proceedings. The company has also made this information available on its official website for public access.

NBCC (India) Limited announced on Wednesday, January 14, that it has secured a work order worth approximately ₹55.02 crores from Indian Overseas Bank (IOB), marking another significant addition to the company's project portfolio. The contract involves comprehensive construction services for IOB's new regional office facility in Raipur.

Project Overview

The awarded contract encompasses the complete development cycle of the IOB regional office project. The scope of work includes planning, designing, execution, and successful handover of the construction project.

Contract Specifications

The project falls under NBCC's project management consultancy services, representing the company's core business operations. As a domestic contract awarded by a domestic entity, it aligns with the company's focus on serving Indian financial institutions and government enterprises. The company has not disclosed the timeline for completion of the project.

HSCC Strategic Healthcare Collaboration

Separately, on Monday, January 12, NBCC's wholly-owned subsidiary, HSCC (India) Ltd, signed a memorandum of understanding (MoU) with Bharat Electronics Ltd (BEL) to establish a strategic collaboration in the healthcare manufacturing and services ecosystem.

Under the MoU, the two entities will work together across multiple healthcare domains including joint procurement and advisory services related to healthcare projects. The agreement provides a broad framework for cooperation, with project-specific arrangements to be finalised separately as required.

Market Performance

Shares of NBCC (India) Ltd ended marginally lower on Wednesday, January 14, declining by 0.09% to close at ₹105.22. Despite the minor decline, the company continues to secure significant contracts in the construction and infrastructure development sector.

Regulatory Compliance

NBCC has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by informing stock exchanges about this contract award. The MoU has been signed in the normal course of business of the subsidiary company.