NBCC (India) Limited and Mtnl SIGN MOU for Major Land Development VALUED AT RS. 1600 CR. APPROXIMATELY

NBCC (India) Limited and Mahanagar Telephone Nigam Limited (MTNL) have signed a significant Memorandum of Understanding (MoU) on 11.09.2024 in New Delhi to collaborate to develop a prominent land parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi. This landmark project aims to transform the land into a state-of-the-art residential/ commercial space, leveraging the expertise and resources of both organizations. The project is valued at Rs 1600 Cr. approximately. The MoU was signed in the presence of Shri K.P. Mahadevaswamy, CMD, NBCC, Shri A. Robert J. Ravi, CMD, MTNL, Shri Suman Kumar, Director (Commercial), NBCC, Shri Kalyan Sagar, Director (HR), BSNL, Shri Ratan Mani Sumit, Company Secretary, MTNL, Smt. Reshma Dudani, Sr. Executive Director (Engg.), NBCC and Shri Devender Yadav, GM (Land Monetisation), MTNL. MTNL, a leading public sector telecommunications company and NBCC, a Navratna enterprise under the Ministry of Housing & Urban Affairs, have committed to this development project. NBCC will act as the executing and implementing agency for the development of the land parcel. It will handle the master planning, architectural design, and detailed project reports, ensuring compliance with local town planning norms. The project will be executed in phases over a period of three years from the date of commencement of the project, with a focus on maximizing both residential/ commercial benefits. MTNL will provide the land, free from encumbrances and assist with necessary regulatory approvals. NBCC will be responsible for project management, including tendering, construction and post-construction activities.