NBCC shares rose about 9% to around ₹76 Monday, Nov. 2, the day its filing disclosed a Rajasthan-sanctioned cost of ₹168.39 crore for a tourism project at Haldighati.
NBCC (India) Limited said it is undertaking development of the Maharana Pratap Tourist Circuit under a memorandum of understanding with the Department of Tourism, Government of Rajasthan. The sanctioned amount, about ₹1.68 billion, excludes goods and services tax.
The project cost includes a 4.25% project management consultancy fee based on actual project costs. The filing does not separately quantify that fee, disclose NBCC’s expected revenue or say how much of the sanctioned total would accrue to the company.
The announcement was made during the trading session, but its timing does not establish what drove the share-price gain. LiveMint reported that the stock closed at ₹76, up 9%, after four consecutive months of losses. The report’s account of that losing streak was not part of NBCC’s filing.
NBCC also disclosed separate work orders totaling ₹70.50 crore on Nov. 2: ₹47.03 crore for additional work on an Oil India Limited project and ₹23.47 crore for Hindustan Aeronautics Limited. The notice for those orders was timestamped after the regular equity session ended.
Rajasthan’s Feb. 8, 2024, budget allocated ₹100 crore to a wider tourist circuit connecting Chavand, Haldighati, Gogunda, Kumbhalgarh, Diwer and Udaipur. NBCC’s latest filing does not say whether the Haldighati work is part of that earlier initiative. It also provides no detailed project scope, payment schedule, funding source or completion date.
