In its 27th auction, NBCC successfully sold out all the available office space at the World Trade Centre in Nauroji Nagar, New Delhi.

What Happened: The announcement was made by NBCC on Thursday, August 29, 2024. The company, acting as a Project Management Consultant and Marketing Consultant on behalf of the Ministry of Housing and Urban Affairs, Government of India, confirmed the sale of the entire office space at the World Trade Centre, Nauroji Nagar.

The sale included an unsold commercial inventory of approximately 1.81 lakh sq. ft., valued at ₹908.48 crore. Of this, a 0.60 lakh sq. ft. area, worth ₹312.23 crore, was sold to private entities.

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On Wednesday, NBCC shares soared 8% following the announcement of a board meeting to consider the issuance of bonus shares. This was the first such move since the company’s last bonus share issue in 2017.

Earlier in August, the company had bagged two orders worth ₹720 crore. On August 24, NBCC declared the record date for its final dividend payment for the year ended March 2024, further boosting investor confidence.

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