NBCC and MTNL Sign MoU for ₹1,600 Crore Project in Delhi

NBCC (India) and Mahanagar Telephone Nigam Ltd. (MTNL) have signed a memorandum of understanding (MoU) to collaborate on a major redevelopment project in New Delhi. The project, valued at approximately ₹1,600 crore, involves transforming a 13.88-acre MTNL land parcel located on Pankha Road into a modern residential and commercial space.

This partnership combines NBCC's extensive experience in construction and urban development with MTNL’s land assets, setting the stage for an ambitious redevelopment initiative. The project is expected to significantly enhance the urban landscape and create new real estate opportunities in the capital.

The development will feature a mix of residential and commercial units, designed to meet the growing demand for urban housing and business spaces. This project marks an important step in utilizing underutilized government-owned land for public and commercial use.

Classified as a contract, this collaboration highlights the strategic importance of public sector organizations working together to unlock the potential of prime real estate in urban areas. It also aligns with the government's broader push for urban renewal and infrastructure development.

With the MoU in place, NBCC and MTNL are set to embark on this large-scale project, which will contribute to Delhi’s evolving urban fabric.

News by Rahul Yelligetti