NBCC holds its 63 rd Annual General Meeting

NBCC (India) Ltd, the State-owned Navratna Enterprise Company, is poised to capitalise on the increased impetus to infrastructure development by the Government. Shri Pawan Kumar Gupta, Chairman & Managing Director, NBCC (India) Limited at the 63rd Annual General Meeting(AGM) held through video conferencing (VC) and other audiovisuals means (OAVM) at its registered office, i.e, NBCC Bhawan, Lodhi Road, New Delhi highlighted the key achievements of the company during FY 22-23. He also showcased the various opportunities that the company is pursuing in both domestic and international sectors.

During the meeting, other members of the NBCC Board, i.e., Smt. B.K. Sokhey, Director (Finance) K.P. Mahadeva Swamy, Director (Commercial),  Saleem Ahmed, Director (Projects), Government Nominee Directors Ravi Kumar Arora, Joint Secretary (Land &Estates) and Sanjeet, Joint Secretary Financial Advisor, Ministry of Housing and Urban Affairs, Government of India, Independent Directors Shri Bhimrao Panda Bhosale, Rajeev Kumar, Asim Misra, and Smt. Deepti Gambhir, Company Secretary, NBCC, were also present. The Company has declared a final dividend of 54 paisa (54%) per paid-up equity share of Re.1/-each.It is pertinent to mention that NBCC has recently completed the prestigious IntegratedExhibition-cum-Convention Centre (IECC) as a modern complex as part of the Pragati Maidan redevelopment project. Hon’ble Prime Minister of India has also applauded the tireless efforts, involvement and commitment in the construction of the project.

CMD, NBCC informed the shareholders that the company is diversifying into new sectors, namely, the aviation and Health sector, Defence works, procurement of high-end machines and equipment, smart city mission projects, irrigation projects like renovation/repair of power channel development of canal networks and industrial estates.For the FY 2022-23, total income of the Company was Rs 6920.57 Cr (standalone) and Rs 8961.47Cr (consolidated) whereas profit after tax was Rs. 231.13 Cr (standalone) and Rs. 278.01 Cr(consolidated).While concluding, Shri Pawan Kumar Gupta, CMD, NBCC has expressed his heartfelt appreciation and gratitude to the Government of India, specifically the Ministry of Housing and Urban A?airs, Ministry of Finance, Department of Public Enterprises, DIPAM, SEBI, and Ministry of Corporate A?airs (MCA), as well as all other Central and State Government Agencies, CAG of India, esteemed clients of NBCC, valued customers, dedicated employees,and stakeholders for their support and cooperation which has been instrumental in taking the Company forward on its journey of progress and success.NBCC continues to strive for excellence in its core business activities and is committed to provide utmost value to its shareholders.