PSU Stock Receives ₹320 Cr Orders and Cabinet Approval for ₹5,800 Cr Rajasthan Mandapam Project

Synopsis: NBCC Ltd, a GoI Navratna PSU under the Ministry of Housing and Urban Affairs, secured Rs. 319.78 cr in new domestic orders and revised Cabinet approval for the Rs. 5,800 cr Rajasthan Mandapam project, boosting its urban infrastructure portfolio.

The shares of this company operate in three major segments such as Project Management Consultancy, Engineering Procurement & Construction, and Real Estate are in the spotlight after it fell by 6% in today’s session despite securing orders worth Rs. 320 cr and revised cabinet approval for Rs. 5,800 crore for the Rajasthan Mandapam and allied projects. 

With a market capitalisation of Rs. 22,337 cr, the shares of Ltd were trading at 83 per share, decreasing 6% from its previous close of Rs. 88.43 per share. The stock has underperformed, declining 32% year-to-date, 0.5% over the past year, 25% in the last six months, and 13% in the past month.

About the orders 

NBCC (India) Limited informed about the receipt of new work orders in the ordinary course of business, totaling approximately Rs. 319.78 crore. These contracts are part of the company’s regular business operations and involve construction and project management consultancy services. 

The first contract, valued at approximately Rs. 227.99 crore, has been awarded by Oil India Limited. It involves the construction of an Executive Housing Complex in the DX area at Duliajan, Assam, on a turnkey basis. This project falls entirely under domestic operations, and there is no involvement of promoters or related parties in Oil India Limited.

The second work order, worth around Rs. 83.76 crore, has been awarded by the Ministry of Home Affairs. It entails the construction of major bridges over the River Hari (length 423 meters) and the River Luva (length 206 meters) in Meghalaya along the Indo-Bangladesh border. This project is also domestic and classified under project management consultancy, with no related party interest involved.

The third contract, valued at approximately Rs. 8.03 crore, has been awarded by the Collectorate, Patna. It involves the creation of dedicated spaces for a start-up incubation center and a center for public policy at Chandragupt Institute of Management, Patna. This contract is domestic, related to project management consultancy, and similarly does not involve any promoter or related party interest.

In summary, NBCC (India) Limited has secured three domestic contracts totaling Rs. 319.78 crore, all of which are in line with its regular business operations. The contracts cover turnkey construction and project management consultancy services for government and public-sector clients, with no involvement of related parties.

Revised order 

Additionally, it has announced that the Government of Rajasthan has granted Cabinet approval for the development of the Rajasthan Mandapam Convention Centre and allied urban infrastructure projects, with a revised total project value of approximately Rs. 5,800 crore from Rs. 3,700 crore approx. 

The project, near Jaipur International Airport will cover over 90 acres and feature a world-class convention centre, expo halls, Global Capability Centres (GCCs), IT/ITES office spaces, hotels, retail and residential zones, a Natural History Museum, fintech plaza, and revitalized riverfront public spaces, creating a vibrant mixed-use ecosystem.

The company will execute the project on behalf of the Rajasthan State Industrial Development & Investment Corporation (RIICO) through a self-financing model, ensuring transparency, efficiency, and timely completion. 

The Rajasthan Mandapam Convention Centre will include multiple auditoria, banquet halls, and a grand Padam Mandap with seating for 6,500, while allied infrastructure will promote business, culture, tourism, and sustainability. The project is positioned to transform Jaipur’s urban landscape and strengthen its global appeal as a destination for conventions and integrated urban development.

NBCC (India) Limited is a premier public sector construction and project management company in India, specialising in executing large-scale urban infrastructure, government, and industrial projects. Established to provide end-to-end construction and consultancy services, NBCC handles turnkey projects, real estate development, and project management consultancy with a focus on quality, efficiency, and timely delivery. 

Sales of the company increased by 8% to Rs. 3,022 cr in Q3FY26 from Rs. 2,809 cr. EBITDA declined 21% to Rs. 114 cr from Rs. 144 cr, while net profit increased 39% to Rs. 197 cr from Rs. 142 cr. EPS rose 39% to Rs. 0.71 from Rs. 0.51, reflecting improved earnings per share despite lower operating margins.

As of 31st December 2025, the total consolidated order book was Rs. 1,26,790 cr, with contributions from its subsidiaries being NBCC at Rs. 1,12,640 cr, HSCC at Rs. 7,827 cr, HSCL at Rs. 6,016 cr, and NSL at Rs. 307 cr. 

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