Exclusive: In chat with Anil Singhvi, NBCC CMD PK Gupta reveals the real situation in Amrapali project, and much more
NBCC, a Navratna company which was established in 1960 as a civil construction company. The company has an order book worth 80,000 cr as of 2018. Zee Business Managing Editor Anil Singhvi spoke to Pawan Kumar Gupta, Chairman and Managing Director (CMD) of the company on a number of issues. (#NewsParViews)
In today’s edition of News Par Views show, Zee Business brings to you a company that needs no introduction. NBCC, a Navratna company which was established in 1960 as a civil construction company. The company has an order book worth 80,000 cr as of 2018. Zee Business Managing Editor Anil Singhvi spoke to Pawan Kumar Gupta, Chairman and Managing Director (CMD) of the company on a number of issues. (#NewsParViews)
Real Estate sector has been in deep crisis with many projects getting stalled. The government company has taken over projects of real estate developers who are facing difficulty in handing over flats to the aggrieved homebuyers.
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The biggest project with NBCC is of Amrapali, where the company has to complete construction of over 46,500 homes. There are around 25 stalled projects, Gupta said. The company has already handed over two projects and the work is ongoing on 20 other projects. The company has awarded tender of one project last week. One project is in the tendering process and one has to be tendered. This one is a commercial project, he added.
CMD Gupta said that he expects all the projects to get completed by 2023.
On company’s operations, he said that, NBCC has awarded projects wort Rs 9,000 cr in this year. He said that by the end of this financial year, this figure is expected to reach between Rs 12,000-Rs 13,000 cr which will be the biggest ever in the history of NBCC operations.
NBCC has also taken certain steps to expedite the execution process. Gupta sad that NBCC has now started giving big ticket projects. This will not only increase the speed and efficiency but also reduce excessive supervision. Now the company has stopped giving and taking small orders, he further said.
This is the reason why it has been able to award tenders worth Rs 9,000 cr this year despite the pandemic situation, he further said. The pandemic affected the day-to-day working, he added.
The operational capacity has now come to around 80-85 per cent now, he said.
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The CMD said that NBCC is a debt free company and its money is invested in real estate and redevelopment projects. There is no shortage of cash, he informed. He however, said that the real estate market was still sluggish and hoped that it would come out soon.
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