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State-run builder NBCC eyes India's land bank to boost orders
May 14, 2015 / 7:47 AM / 3 years ago

State-run builder NBCC eyes India's land bank to boost orders

NEW DELHI, May 14 (Reuters) - India’s state-run National Buildings Construction Corporation (NBCC) is betting on the redevelopment of millions of square feet of vacant government property as it plans to grow its $3.4 billion order book by 25 percent a year to 2020.

That is roughly twice the rate of growth over the last few years, chairman and managing director, Anoop Kumar Mittal, told Reuters.

NBCC, 90 percent owned by the state, builds and redevelops real estate and infrastructure. It is seen as a major beneficiary of the current government’s spending push, making its stock a the top performer among India’s state-owned firms. (Additional reporting by Tripti Kalro in Bangalore; Editing by Clara Ferreira Marques)

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