NBCC (India) Ltd. has been appointed as project management consultant by the National Company Law Appellate Tribunal for completion of 16 projects of Supertech Ltd., according to an exchange filing on Thursday.
NBCC will complete 16 projects with 49,748 houses in Uttar Pradesh, Uttarakhand, Haryana and Karnataka. The tentative construction cost of the project is approximately Rs 9,445 crore, including 3% contingency. The PMC fees were fixed at 8%, including 1% marketing fee, the public sector undertaking said.
-
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
'One Can Never Get Good News And Bad Share Price': S Naren, ICICI Pru Life AMC On NDTV Profit Ignite
In September, the state-owned firm moved the Supreme Court seeking to develop and complete Supertech's 17 stalled or partially built projects. Completion of the residential units was hit due to financial crisis faced by the embattled realty major, which led to insolvency proceedings since 2021.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Union Bank of India had initiated insolvency proceedings against Supertech under section 7 of the Insolvency and Bankruptcy Code on March 20, 2021, claiming a total amount of over Rs 431 core as on Jan. 31, 2021, along with accrued interest
Shares of NBCC jumped 1.69% during the day after falling as much as 3% on the National Stock Exchange. The stock was trading 1.4% lower at Rs 100.65 per share, compared to a 0.4% decline in the benchmark Nifty at 3:19 p.m.
The share price has risen 85% on a year-to-date basis. The total traded volume so far in the day stood at 1.17 times its 30-day average. The relative strength index was at 53.
Two out of the four analysts tracking the company have a 'buy' rating on the stock and as many suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 32.5%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
