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NBCC's FY 23-24 saw significant growth with projects like Amrapali and Kerala State Housing Board. KP Mahadevaswamy highlights sustainable development. Commercial real estate sales show progress through e-auctions.
At the World Trade Centre project in Delhi's Nauroji Nagar, NBCC has sold commercial real estate inventory valuing approximately Rs 6,500 crore during FY24.
State-owned NBCC is set to generate an additional revenue of Rs 15,000 crore from Amrapali projects after the Uttar Pradesh government approved its request to develop extra flats in the project. This approval grants NBCC additional FAR (floor area ratio) to construct more apartments, enabling the development of 13,250 houses on an additional 75-acre land.
According to Swamy, NBCC would pay a due of Rs 590 crore for the additional 3.5 FAR. The current FAR — which is the ratio of the building’s floor area to the area of the land plot it is situated on — is 2.75.
"NBCC is committed towards completing Amrapali Projects despite challenges. We are dedicating our resources so that the dream of house ownership of home buyers of the project is fulfilled. We expect to complete all the projects by March 2025," NBCC CMD K P Mahadevaswamy told PTI.