NBCC secures massive Rs 15,000 Cr contract for Satellite Township in Srinagar

New Delhi, Aug 9: In a significant development for urban infrastructure in Jammu and Kashmir, NBCC India, a prominent public sector enterprise, has been awarded a colossal Rs 15,000 crore contract to develop a satellite township in Srinagar. The announcement, made on Friday, marks a major step towards enhancing urban living conditions in the region.
The ambitious project, commissioned by the Srinagar Development Authority, involves the creation of a sprawling satellite township spanning 406 acres in Rakh-e-Gund Akshah, Bemina, located in Srinagar. This initiative aligns with the government’s vision for regional development and is expected to significantly boost the local economy.

NBCC India, in an official statement, confirmed the receipt of work orders “in the normal course of business, amounting to Rs. 15,000 crores.” The company emphasized that the project focuses on the “Development of Satellite Township spread over 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar (J&K).”
Industry experts predict that this large-scale development will generate numerous job opportunities across various sectors, stimulating economic growth in the area. The project is seen as a key driver in modernizing Srinagar’s urban landscape while addressing the growing demand for quality housing and infrastructure.
The news has had a positive impact on NBCC’s market performance. At the time of this report, the company’s shares were trading at Rs 182.81, marking an impressive increase of over 8% on the day. This latest surge contributes to an extraordinary year-long performance, with NBCC’s share price skyrocketing by more than 275% over the past 12 months.
NBCC (India) Limited, formerly known as National Buildings Construction Corporation Limited, has a rich history dating back to its incorporation in 1960. Initially established as a private limited company, it transitioned to a public limited entity in 2011. Today, NBCC holds the prestigious Navratna status among Government of India enterprises and operates under the Ministry of Housing and Urban Affairs.
The company’s operations span across India and extend overseas, with its business model structured around three core segments: Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC), and Real Estate. This diverse portfolio has positioned NBCC as a key player in India’s construction and urban development sector.
As Srinagar prepares for this transformative project, all eyes will be on NBCC to deliver a modern, sustainable township that could serve as a model for future urban development initiatives in the region and beyond.