|NBCC CMD Dr Mittal|
Dr Mittal is known as a visionary and has brought sea-change in the functioning of government-owned project management and consultancy firm. His ability to execute to perfection a wide range of end-to-end marquee projects is well recognised in industry circles. He has worked...
in various capacities at NBCC after joining the Navaratna PSU in 1985.
After becoming the CMD in 2013, he transformed the state-owned construction major into a one of the leading construction companies in the country. He has been instrumental in setting fresh benchmarks and credited for adopting new technologies for developing environment-friendly residential, commercial, institutional and office landmark projects.
Under Dr Mittal’s leadership, NBCC’s turnover has doubled and order book grown four times with the current order pipeline at about Rs 80,000 crore. The market capitalisation has grown nearly 20 times, standing tall at about Rs 20,000 crore in 2016-17 against Rs 1,100 crore in 2012-13. The market capitalisation touched an all-time high of Rs 25,000 crore in November 2017.
The PSU is engaged in many flagship schemes of the government like Swachh Bharat Abhiyaan, Namami Gange, Smart Cities Mission, Skill India, and Housing For All by 2022. Dr Mittal’s continuation at the helm will enable NBCC to execute huge pipeline of projects as a part of nation building.
NBCC’s execution of border fencing along Indo-Bangladesh and Indo-Pak border has majorly contributed in securing India’s international boundaries. NBCC has also been involved in development of roads in remote and terror-infested areas under the Pradhan Mantri Gram Sadak Yojana in Bihar, Jharkhand, West Bengal, Tripura and Odisha. This has helped in promoting trade and benefitted the regional economy.
NBCC (India) Ltd., is a blue-chip PSU under the Ministry of Housing and Urban Affairs (MoHUA), Govt. of India. Its present areas of operations are categorized into three main segments, i.e. (i) Project Management Consultancy (PMC), (ii) Real Estate Development & (iii) EPC Contracting.
The PSU is listed with both the Stock Exchanges since 2012. With consolidated revenue of Rs 6401 crore, the PSU has been growing with a consistent upward trajectory of 20 percent CAGR since the last 5 years. The company’s unique business model has today made it stand out as a leader in its own right in the construction sector with more than INR 80,000 crore Order Book in hand.
Earlier, NBCC secured orders of Rs 17,516.53 crore in 2015-16 including Rs 2,149-crore from the Indian Trade Promotion Organisation (ITPO) for redevelopment of exhibition venue at Pragati Maidan and Rs 5,828 crore redevelopment project from AIIMS.
NBCC will construct the Capital’s first 100-storey building in Karkardooma, East Delhi, during the next two to three years.
NBCC is one of the few PSUs engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
NBCC has been executing many landmark projects as a PMC which contributes to about 85 percent of its annual revenue. The segment being the Company’s core strength, the areas covered under its umbrella include roads, hospitals and medical colleges, institutions, offices, airports, bridges, industrial and environmental structures etc.
NBCC’s success in implementation of the government’s New Moti Bagh Re-development Project, has earned it a huge dividend in the form of awarding of another Rs.5000 crore project in similar lines, named - East Kidwai Nagar Re-development (New Delhi) to the Company which is under implementation at present.
Apart from redevelopment, the other category of the real estate also holds a great promise for the future of the PSU as it has about 30 residential and commercial real estate projects presently going on at various locations of the country and more are coming up with huge investments.
NBCC ventured into Overseas Operations in the year 1977, executing projects of diverse nature in countries like Libya, Iraq, Yemen, Nepal, Maldives, Mauritius, Turkey, Botswana. Presently, the PSU has its presence in Maldives, Turkey and Botswana implementing various projects and earning consistent revenue. Of late, NBCC has opened an office in Oman and also signed an MoU with Al Naba Services LLC in Oman in order to jointly explore and secure infrastructure projects in Sultanate of Oman & neighbouring countries.