NBCC India to Develop Rs 15,000 Crore Township in Srinagar
NBCC India, a public sector enterprise, has received an order worth Rs 15,000 crore to develop a township in Srinagar, Jammu & Kashmir. The project involves creating a Satellite Township spread over 406 acres in Rakh-e-Gund Akshah, Bemina, Srinagar.
The Srinagar Development Authority has commissioned this project to enhance urban infrastructure and living conditions in the region. According to NBCC, the project will create numerous job opportunities and stimulate economic growth, aligning with the government’s vision for regional development.
NBCC’s shares have surged over 8%, standing at Rs 182.81 at the time of this report. Over the past year, the company’s shares have increased by more than 275%.
NBCC (India) Limited, formerly known as National Buildings Construction Corporation Limited, is a Government of India Navratna Enterprise that provides construction services. Incorporated in 1960, the company became a public limited company in 2011. It operates under the Ministry of Housing and Urban Affairs and is organized into three segments: Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC), and Real Estate.
Doubts Revealed
NBCC India -: NBCC India is a company owned by the Indian government that builds big projects like buildings and roads.
Rs 15,000 Crore -: Rs 15,000 Crore is a very large amount of money. One crore is equal to 10 million rupees, so 15,000 crores is 150 billion rupees.
Township -: A township is a planned area where people can live, work, and have fun. It has houses, schools, shops, and parks.
Srinagar -: Srinagar is a city in the northern part of India, in the state of Jammu & Kashmir. It is known for its beautiful lakes and gardens.
Public sector enterprise -: A public sector enterprise is a company that is owned and run by the government.
Satellite Township -: A Satellite Township is a smaller town built near a big city to help with housing and reduce crowding in the main city.
Srinagar Development Authority -: The Srinagar Development Authority is a government organization that plans and manages the development of Srinagar city.
Urban infrastructure -: Urban infrastructure includes things like roads, bridges, water supply, and electricity that help a city function well.
Navratna Enterprise -: A Navratna Enterprise is a special title given by the Indian government to very important and successful public sector companies.
Ministry of Housing and Urban Affairs -: The Ministry of Housing and Urban Affairs is a part of the Indian government that looks after building homes and improving cities.
