इंडियन आवाज़     04 Mar 2024 08:51:03      انڈین آواز

NBCC dismisses reports of plans to set up NBFC


NBCC has dismissed the reports of setting up a non-banking finance company (NBFC). NBCC Chairman Anoop Kumar Mittal said that there is no proposal to launch an NBFC. He stressed that NBCC is a construction company and we invest in redevelopment projects.

Earlier in a report appeared in PIB, said A.K.Mittal, Chairman and Managing Director of NBCC informed the Union Minister Venkiah Naidu that among various initiatives under consideration, the company is keen to float a Non-Banking Finance Company (NBFC) to finance growing business.


He said that the company has acquired new project orders for Rs.17,516 cr during 2015-16 and with total work orders of over Rs.70,000 cr, NBCC is the second largest construction company in the country. the company has declared a total dividend of Rs.120 cr for 2015-16.

According to moneycontrol.com, chairman said NBCC manages land assets of sick public sector units and the company will soon have discussions with sick PSUs over revenue generation, he said. The company has also bagged three orders from Labour Ministry to construct hospitals in Uttarakhand and Madhya Pradesh. The value of the orders is Rs 475 crore which takes NBCC’s total order book to Rs 73,000 crore.

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