NBCC (India) Ltd the State-owned Navratna Enterprise Company is poised to capitalize on the increased impetus to infrastructure development by the Government. Shri K.P. Mahadevaswamy, CMD, NBCC (India) Limited at the 64th Annual General Meeting (AGM) held through video conferencing (VC) and other audio visuals means (OAVM) on 25.09.2024 at its registered office i.e, NBCC Bhawan, Lodhi Road, New Delhi highlighted the key achievements of the company during FY 23-24. He also showcased the various opportunities that the company is pursuing in both domestic and international sectors.
During the meeting, other members of NBCC Board, viz., Shri Saleem Ahmad, Director (Projects), Shri Suman Kumar, Director (Commercial), Government Nominee Directors Shri Sanjeet, Joint Secretary & Financial Advisor, Ministry of Housing and Urban Affairs, Government of India, Shri Ravi Kumar Arora, Joint Secretary (Land & Estates) and Independent Directors Shri Bhimrao Panda Bhosale, Shri Asim Misra, Shri Rajeev Kumar (joined through VC) and Smt. Deepti Gambhir, Company Secretary, NBCC were also present. The major resolutions approved during the AGM are as follows:
Approved final dividend:
The company has declared a final dividend of 63 paisa (63%) per paid-up equity share of Re.1/- each.
Approved bonus share:
The company has also declared bonus shares in the ratio 1:2 (One share for every two existing shares). Consequently, the paid-up equity share capital of the company has increased from Rs. 180,00,00,000 to Rs. 270,00,00,000. The newly allotted bonus shares will hold equal status with the existing shares.
Approved increase in Authorized Share Capital:
Further, the company also approved increase in the authorized share capital of the company from the existing Rs. 2,00,00,00,000 (Rupees Two Hundred Crore) to Rs. 10,00,00,00,000/- (Rupees One Thousand Crore) by creating of additional capital of Rs. 8,00,00,00,000 (Rupees Eight Hundred Crore).
For FY 2023-24, NBCC has achieved its highest-ever revenue from operations since inception, reaching approximately Rs. 10,450 Crore, reflecting a significant year-on-year growth of 17.5%. NBCC has also secured new business valuing Rs. 23,500 Crore in the same period. NBCC with its robust order book of over Rs. 81,300 Crore and a strategic focus on redevelopment, PSU Land Monetization. NBCC has successfully completed about 22500 units of Amrapali Projects till date. The company is committed to deliver remaining units by March, 2025. NBCC along with ASPIRE team has achieved sale of over 6,300 units in Amrapali Projects with total sale value of more than 3,650 Crore. The company has generated around 25 million man-days in FY 2023-24.
While concluding, Shri Mahadevaswamy has expressed his heartfelt appreciation and gratitude to the Government of India, specifically the Ministry of Housing and Urban Affairs, Ministry of Finance, Department of Public Enterprises, DIPAM, SEBI, and Ministry of Corporate Affairs (MCA), as well as all other Central and State Government Agencies, C&AG of India, esteemed clients of NBCC, valued customers, dedicated employees and stakeholders for their support and cooperation which has been instrumental in taking the Company forward on its journey of progress and success.
NBCC continues to strive for excellence in its core business activities and is committed to provide utmost value to its shareholders.
