NBCC shares jumped nearly 2 percent on April 11 after the company released two positive updates about its sales. The company’s shares closed at Rs 89 per share.
In an exchange filing released on April 11, the Navratna company announced that it has successfully sold 560 residential units at Aspire Leisure Park in Greater Noida. The units were sold through e-auction and have a total sale value of over Rs 1,153 crore. The company further said, “NBCC will receive a marketing fee at the rate of 1 percent of the sale value.”
In another exchange filing released after market close on April 9, NBCC had announced that it sold 1,185 residential units in the third phase of Aspire Dream Valley in Greater Noida through e-auction at a total sale value of about Rs 1,504.69 crore.
Earlier in the day, the PSU company’s shares hit a one-month high of Rs 90 per share. The stock has seen a strong recovery of about 26 percent after hitting a 52-week low of Rs 70.80 per share on March 3. However, the stock is still down 36 percent from its 52-week high of Rs 139.83 per share, which it hit on August 28.
Shri Laxmi of Greater Noida Industrial Authority recently spoke about the city’s prospects. Speaking at the Rising Bharat Summit, he said, “Greater Noida is a greenfield project. So it is not like it was a hub or a city first and later it developed or it became bigger. It was completely planned from the beginning.
So land was acquired and plans were made, sectors were created, different sectors were planned for housing, commercial activity, industry, institutions; wide roads, green areas, open spaces, all were planned.” He further added, “So having a well-planned city, which is, you know, one of the handful in the whole of India, is a great thing.
People prefer, it’s not just profession or work that people look for now. It’s more like the convenience of living in a city that really helps people make choices. So Greater Noida is a well-planned city and people from Delhi also prefer to come and settle in Greater Noida and commute that way.”
