NBCC Generates Rs 272.68 Crore from E-Auction

"Shares of NBCC saw an increase in trading on February 29 after the company successfully conducted an e-auction for about 61,000 sqft of commercial built-up area in Ayurvigyan Nagar, New Delhi.

The basic sale price for the project is Rs 36,000 per sqft, resulting in a total deal value of Rs 272.68 crore. Grid Controller of India Ltd, a PSU under the Ministry of Power, participated in the e-auction and secured the deal.

This commercial space, sold through e-auction, is part of the redevelopment project undertaken by NBCC for AIIMS Delhi. The funds generated from the sale will be used for constructing houses for faculty and staff members of AIIMS Delhi. The project, known as ““Grande Rue,”” features three levels of basement with parking space for 150 cars and consists of ground+3 storeys of commercial built-up spaces."