NBCC Sells Office Space In Delhi For Rs 13,408.7 Crore

NBCC India Ltd. on Thursday sold 100% of its office space worth Rs 13,408.7 crore at World Trade Centre Nauroji Nagar, New Delhi. The combined value of office and commercial space sold by NBCC through the e-auction totals to Rs 14,800 crore.

During its 27th e-auction, the state-owned company sold approximately 32.87 lakh square feet of office space, according to an exchange filing. Of these PSUs, government entities have bought 23 lakh sq ft of space at a value of Rs 9,307.65 crore, while private entities have bought 9.86 lakh sq ft at Rs 4,101.07 crore.

The World Trade Centre is being redeveloped into a commercial hub with approximately 34 lakh sq ft of built-up area, replacing 628 old or dilapidated quarters. Spanning around 25 acres, the project includes 12 towers, each standing 10 floors tall, providing extensive space for business growth and expansion.

WTC Nauroji Nagar integrates green building practices and eco-friendly technologies, targeting high ratings in environmental certifications like GRIHA-III. It features zero discharge systems, 800KW solar panels on the terrace, and 26 rainwater harvesting pits, each with a capacity of 66 cubic meters.

NBCC India has also sold 100% of its commercial built-up space worth Rs 1,342 crore at Down Town Sarojini Nagar, New Delhi. As of date, NBCC has sold around 3.64 lakh square feet of commercial space through open e-auctions, with a cumulative sale value of Rs 1,390.9 crore.

During the e-auction, NBCC has sold a total unsold inventory of 1.81 lakh sq ft of commercial space of Rs 908.48 crore, according to the filing.

In this e-auction, 1.21 lakh sqft of space was sold to PSU or government entities for about Rs 596.25 crore, while 0.60 lakh sqft was sold to private entities for Rs 312.23 crore. The highest bid in the e-auction was Rs 62,261 per sqft, significantly higher than the reserve price of Rs 37,161 per sqft.

NBCC's stock rose as much as 5.09% during the day to Rs 205.68 apiece on NSE. The stock closed 0.45% lower at Rs 194.82 per share. This compares with a 0.06% advance in the benchmark Nifty 50. It has fallen 281.25% in the last 12 months and 138.02% year-to-date.