NBCC (India) has advanced its revenue target of Rs 25,000 crore to FY29, driven by ongoing negotiations for redevelopment projects nationwide, as stated by its Chairman and Managing Director, KP Mahadevaswamy, in an interview.
The company plans to replicate the successful Delhi model, which involved the sale of 3.2 million square feet of commercial space at the World Trade Centre project in Nauroji Nagar and Sarojini Nagar Downtown, yielding Rs 14,800 crore to facilitate the redevelopment of seven colonies in Delhi.
Mahadevaswamy indicated that discussions are underway with the state governments of Goa, Telangana, Jammu & Kashmir, and Kerala to initiate additional redevelopment projects. He noted, “Redevelopment is expected to account for nearly 50% of our revenue. This self-sustaining model, which generates funds from the projects themselves, has garnered positive responses from state governments.
Our order book stands at Rs 60,000-70,000 crore and is poised for further expansion.” Recently, NBCC secured redevelopment projects valued at Rs 10,000 crore from the Goa government, which will be executed in phases.
These projects will be developed under a self-sustaining model, eliminating the need for budgetary support from the state government. The company reported revenues of Rs 8,900 crore for the fiscal year 2022-23 and Rs 10,666 crore for 2023-24. For the fiscal year 2024-25, it anticipates revenues of approximately Rs 12,000 crore.
The government has initiated the redevelopment of seven housing colonies in Delhi, with three—Nauroji Nagar, Netaji Nagar, and Sarojini Nagar—designated for NBCC, while the Central Public Works Department (CPWD) has been tasked with redeveloping the remaining four colonies: Kasturba Nagar, Thyagraj Nagar, Srinivaspuri, and Mohammadpur. The four projects managed by CPWD are also being financed through capital generated by NBCC from the sale of commercial space in the colonies assigned to it for redevelopment.
