NBCC Sells Residential Units In Greater Noida For Rs 1,505 Crore
NBCC will also receive a marketing fee equivalent to 1% of the sale value.
NBCC India Ltd. has sold multiple residential units in Greater Noida through an e auction for a total sale value of Rs 1,504.7 crore, according to an exchange filing on Wednesday.
The company sold 1,185 residential units at Aspire Dream Valley, Phase-III. It will also receive a marketing fee equivalent to 1% of the sale value, the filing said.
On Tuesday, the public sector firm signed a strategic memorandum of understanding with RailTel Corp. to develop data-centre projects in India and overseas for five years.
NBCC's consolidated net profit grew 25% to Rs 138.5 crore in the third quarter of the current financial year, while revenue rose 17% to Rs 2,827 crore.
Shares of NBCC closed 4.74% higher at Rs 87.01 apiece on the NSE, compared to a 0.61% fall in the benchmark Nifty. The stock has declined 5.01% in the last 12 months and 6.39% on a year-to-date basis.
Two out of the three analysts tracking the company have a 'buy' rating on the stock and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 36.8%.
