NBCC, a Navratna Central Public Sector Enterprise (CPSE) has set a profit target of 15 per cent this year which will amount to Rs 367.20 crore.
The PSU, under the Ministry of Housing and Urban Affairs (MoHUA), has signed Memorandum of Understanding (MoU) with the Ministry whereby sales turnover has been fixed at Rs 7,200 crore. The MoU has laid special emphasis on achieving set milestones with respect to NBCC’s subsidiary companies and Human Resources Management parameters.
The MoU was signed by Durga Shanker Mishra, Secretary, MoHUA, and Dr. Anoop K Mittal, Chairman and Managing Director, NBCC. Senior Executives from the Ministry and NBCC were also present on the occasion.
“The Company during the financial year 2018-19 aims to secure new business in overseas market, diversify its work portfolio and partner strongly in the flagship programmes of the Central Government,”said Dr Mittal.
“We would be in a position to consistently register a 30-40 % Growth in CAGR this year onwards, banking on the completion of a number of high value projects. The company will aggressively take forward its redevelopment model and be an active contributor to the infrastructural transformation in the country,” he further added.