NBCC sells 28K sq ft office space to Balmer Lawrie & Co for Rs 83 cr

The National Building Construction Company (NBCC) has sold nearly 28,000 sq ft office space at Okhla in the national Capital to Balmer Lawrie & Co for Rs 83 crore.

The office is part of the strategically located ‘NBCC Centre’, a Commercial Complex developed by the company that offers world class amenities, makes it one of its kind office building in the vicinity.

The construction of the building was completed.

“The profit margin available to NBCC against the said deal will be approximately Rs 55 crore” NBCC said.

NBCC Centre comprises three basements and ground plus 8 storeys having a total saleable area of approximately 2,36,251 sq ft. With this sale, approximately 75 per cent of the commercial space at NBCC Centre stands sold.

Some of the leading companies which have taken up office space in the centre are Oil India Ltd., Bharat Dynamics Ltd., Council of Architecture, National Insurance, New India Assurance and Oriental Insurance Company Ltd. 

NBCC’s present areas of operations are categorised into three main segments — project management consultancy (PMC), real estate and EPC contracting. The current order book outstanding of the company stands at Rs 80,000 crore.