NBCC India jumps nearly 3%; here's why

NEW DELHI: Shares of NBCC India jumped nearly 3 per cent on Friday after the company said it had auctioned a 2.83-lakh sq ft office space for Rs 1,100 crore in a forthcoming commercial project at Nauroji Nagar, Delhi.

In a filing to BSE, it said, “NBCC has successfully launched and e-auctioned forthcoming commercial and office space in one tower (having 10 floors) of 2.83 lakh sq ft super built-up area at Nauroji Nagar, which would result in Rs 1,100 crore inflow in stages as per the agreement.”

Following the development, the scrip rose 2.72 per cent to hit a high of Rs 198.25 on BSE, eventually closing at Rs ​ 195.80, up 1.45 per cent.

The state-owned company reported a 39 per cent increase in consolidated net profit for March quarter at Rs 173.87 crore, compared with Rs 125.12 crore reported for the year-ago quarter.

The company saw a 2.19 per cent growth in total income for the quarter at Rs 2,377 crore compared with Rs 2,326 crore reported for the year-ago quarter.