|NBCC CMD Dr AK Mittal|
ministry of petroleum and natural gas. The status came into effect from June 23, a statement issued by DPE said. NBCC became the 15th and EIL 16th Navratna company amongst 250 Central Public Sector Undertakings in the country.
NBCC provides civil engineering construction services in wide gamut of projects of varied nature, complexities and at socio-political geographical locations, both at home and overseas, said a statement issued by the PSU.
NBCC’s present arrays of operations are categorized into three main segments: project management consultancy (PMC), real estate development and EPC Contracting.
Dr. Anoop Kumar Mittal, CMD, NBCC, says, “It is heartening to experience that our target of becoming a Navratna Company by the end of this fiscal is achieved. We, now, plan to lay down our business plans to achieve the next milestone of becoming Maharatna and focus on increasing our turnover by 25-30 percent every year from here on which will further help us in multiplying our Top-line and Bottom-line. We also plan to increase our footprints in global market, beginning with Middle-East and CIS countries.”
Engineers India Ltd (EIL) on the other hand is one of the leading design and engineering organizations in South Asia. Established in 1965, EIL provides engineering consultancy and EPC services principally focused on the oil and gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar and nuclear power and fertilizers to leverage its strong technical competencies and track record.
Today, EIL is a ‘total solution’ engineering consultancy company providing design, engineering, procurement, construction and integrated project management services from ‘concept to commissioning’ with highest quality and safety standards.
List of Navaratna PSUs:
Bharat Electronics Limited
Bharat Petroleum Corporation Limited
Engineers India Limited
Hindustan Aeronautics Limited
Hindustan Petroleum Corporation Limited
Mahanagar Telephone Nigam Limited
National Aluminium Company Limited
National Buildings Construction Corporation Limited
Neyveli Lignite Corporation Limited
Oil India Limited
Power Finance Corporation Limited
Power Grid Corporation of India Limited
Rashtriya Ispat Nigam Limited
Rural Electrification Corporation Limited
Shipping Corporation of India Limited
For a CPSE to acquire Navaratna status, it has to be a Schedule ‘A’ and Miniratna Category-1 PSU having at least three ‘Excellent’ or ‘Very Good’ Memorandum of Understanding (MoU) ratings during the last five years plus a composite score of 60 or above out of 100 marks based on its performance during the last three years on the following six identified efficiency parameters:
net profit to net worth, manpower cost to cost of production or services, gross margin as capital employed, gross profit as turnover, earnings per share and inter-sectoral comparison based on net profit to net worth.
As compared to other CPSEs, the boards of Navaratna CPSEs have been delegated enhanced powers in the areas of capital expenditure; equity investment in joint ventures or subsidiaries in India or abroad, human resources development, orgnaisational restructuring and raising of debt from the domestic capital markets and borrowings from international markets.