Thursday, December 1, 2016

NBCC celebrates its 56th Foundation Day; New insurance policy unveiled for employees

Glimpse from the Foundation day celebrations 
STATE-run construction company NBCC on November 16 celebrated its 56th Foundation Day with a host of activities. The evening was graced by Dr. Anoop Kumar Mittal, CMD, NBCC; D.S. Mishra, AS (UD); Directors of NBCC and other distinguished guests. On this occasion, the CMD announced a new welfare initiative for all employees of the PSU, named Group Personnel Accident Insurance Policy for the employees of the Company amounting Rs.20.00 lakh per employee.
Addressing the guests and the employees of the PSU on the...
occasion, Dr. Mittal dwelt at length upon various achievements and business performance of the PSU, particularly in recent years.
He gave a brief account of the company’s endeavoured business success vis-a- vis its committed involvement in all government initiatives. Dr. Mittal accompanied by AS (UD) and Directors of NBCC also unveiled on the occasion, newly-designed NBCC Lapel for the employees.
The award ceremony was followed by two-hour long cultural programme that included mind blowing dance performance by little kids Sonali and Sumant, the winners of India Got Talent Season-4 Reality Show; performance by Illusionist; Comedy Performance. However, the cynosure of the night was a musical rendition by the renowned Bollywood singer Neha Kakkar and troupe.
NBCC is a Navratna PSU under the Ministry of Urban Development. It is a leader in the construction sector with more than Rs 36000 crore order book in hand till March 2016. The PSU has registered a substantial 32 percent growth in top line during FY 2015-16 as compared to previous year. NBCC has been executing many landmark projects as a PMC which contributes to about 85 percent of its annual revenue. The real estate segment of the PSU, which came into being in 1988, mainly executing commercial real estate projects, and today has undergone a sea change operation wise.
The government has already designated NBCC as the land management agency to dispose of land assets of loss-making PSUs. NBCC will get a fee of 0.5 percent of the value realised from disposal of such land, subject to a cap of Rs 1 crore. 

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