NBCC India, a public sector enterprise, has secured a ₹15,000 crore order to develop a Satellite Township in Srinagar, Jammu & Kashmir. The project, awarded by the Srinagar Development Authority, involves the development of a township spread over 406 acres in Rakh-e-Gund Akshah, Bemina, Srinagar. The initiative aims to enhance urban infrastructure and living conditions in the region.
In an official statement, NBCC announced the receipt of work orders amounting to ₹15,000 crore for the development of the Satellite Township. The project is expected to generate numerous job opportunities and boost economic growth in the area, aligning with the government’s vision for regional development.
NBCC (India) Limited, formerly known as National Buildings Construction Corporation Limited, is a Navratna Enterprise under the Government of India, providing construction services. The company’s shares have risen by over 8%, standing at ₹182.81 at the time of reporting, and have surged more than 275% over the past year. Founded in 1960 and public since 2011, NBCC operates under the Ministry of Housing and Urban Affairs, with projects across India and overseas.