Rs 1,20,307 crore order book: Civil construction Company Signs Rs 3,700 Crore MoU with RIICO for Rajasthan Mandapam and Allied Infrastructure Near Jaipur Airport

NBCC (India) Limited has signed a Rs 3,700 crore Memorandum of Understanding (MoU) with the Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) for the development of the Rajasthan Mandapam and allied infrastructure projects near Jaipur International Airport on Tonk Road.

The collaboration aims to boost regional economic growth and cultural infrastructure, marking a key milestone in the partnership between the Government of India and the Government of Rajasthan. The MoU signing ceremony in Jaipur was attended by prominent dignitaries including Shri Bhajan Lal Sharma, Hon’ble Chief Minister of Rajasthan; Col. Rajyavardhan Singh Rathore, Hon’ble Industry Minister of Rajasthan; Shri Sudhansh Pant, Chief Secretary, Government of Rajasthan; Shri Shikhar Agrawal, Additional Chief Secretary to the Chief Minister and RIICO Chairman; and Shri K.P. Mahadevaswamy, CMD, NBCC. Dr. Suman Kumar, Director (Commercial), NBCC, along with senior officers from both organizations, were also present.

NBCC has been appointed as the exclusive Executing Agency and will manage a 95-acre prime land parcel. The responsibilities include master planning, architectural design, engineering, construction, and international-standard marketing. The development is set to feature the Rajasthan Mandapam Convention Center, Unity Mall, and associated commercial and cultural infrastructure. The project is expected to position Jaipur as a key destination for global conventions and retail innovation.

Funding for the project will follow a self-financing model. RIICO will provide NBCC with an initial interest-free advance of Rs 50 crore. NBCC will mobilize the remaining funds primarily through the sale and lease of built-up spaces and planned plots. Public financial institutions will be leveraged if required to ensure continuous progress. Additionally, government financial support of up to Rs 635 crore has been allocated specifically for the Rajasthan Mandapam.

About the Company

NBCC (India) Limited, a prominent government-owned construction company under India's Ministry of Housing and Urban Affairs, offers a comprehensive suite of services across three key segments. Their project management consultancy (PMC) arm tackles civil construction projects for various sectors including residential, commercial, healthcare, and educational institutions. Additionally, they specialise in engineering, procurement, and construction (EPC) for complex structures like high-rise chimneys and cooling towers. Finally, NBCC (India) Limited is a major player in real estate development, building residential townships, apartments, commercial office spaces, and shopping malls.

The company's order book as of June 30, 2025, stands at Rs 1,20,307 crore. As of March 2025, the President of India owns a 61.75 per cent stake and the Life Insurance Corporation of India (LIC) owns a 5.11 per cent stake in the company. The stock is up over 50 per cent from its 52-week low is Rs 70.82 per share.

Disclaimer: The article is for informational purposes only and not investment advice.