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NBCC India Took a 3% Jump, Here Is Why

Shares of NBCC India jumped nearly 3 per cent in Friday’s trade after the company said it had auctioned a 2.83-lakh sq ft office space for Rs 1,100crore 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 1,100crore 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.

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

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

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