Ready to take up any stalled project if commercially viable: NBCC CMD
At a time when there are a few or no takers ....
At a time when there are a few or no takers for stalled residential projects, the public sector construction major NBCC (India) Limited is willing to take up such properties for completion, provided they are commercially viable and do not hurt the company’s balance sheet. After agreeing to take up few incomplete projects of Amrapali Group, NBCC is now looking to take up the incomplete housing projects of Jaypee Infratech.
In an interview to IANS, NBCC CMD Anoop Kumar Mittal said that the company is willing to take up any stalled realty project for completion if it seems profitable. He said that being a Board-governed company, it would take decisions based on commercial viability of the projects.
“Wherever there will be some opportunity we can complete the stalled projects without compromising the balance sheet and profitability or whatever commercial interest we have... We are ready to take those projects,” he said. Speaking of the Amrapali projects, he said that part of the work has started. The Supreme Court last month gave a go-ahead to NBCC for completing the construction of two projects of the Amrapali Group.
Regarding upcoming redevelopment projects, Mr Mittal said that it is currently working on the design and Detailed Project Reports (DPR) of Air India’s two land parcels at Baba Kharak Singh Marg and Vasant Vihar in the national capital.