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Corporate News
Pragati Maidan Revamp: Shapoorji Pallonji Gets Rs. 2,150 Crore Order

State-owned NBCC Ltd today said it has awarded the contract to redevelop ITPO Complex at Pragati Maidan in the national capital to Shapoorji Pallonji group for Rs. 2,150 crore.NBCC is working as a project management consultant on this project and will get a fee on the project cost at 6.5 per cent. Revenue booking from the project will start from this month, it said in a regulatory filing.NBCC has awarded the "redevelopment of ITPO complex into integrated exhibition-cum convention centre at Pragati Maidan to Shapoorji Pallonji and Co Ltd -- Shapoorji Pallonji Qatar WLL (JV) for Rs. 2,149.93 crore (approximately) with completion period of two years". It also awarded a Rs. 870-crore contract to Punj Lloyd for canal work, including cross drainage structures and design for Gosikhurd National Project in Bhandara, Nagpur and Chandrapur districts of Maharashtra.NBCC (India), under the administrative control of the Ministry of Housing and Urban Affairs, is present in three main segments -- Project Management Consultancy (PMC), real estate development and EPC contracting.

News Source:- http://profit.ndtv.com/news/corporates/article-pragati-maidan-revamp-shapoorji-pallonji-gets-rs-2-150-crore-order-1749490