Housing and Urban Development Corporation (HUDCO) shares climbed 5% after a significant collaboration with NBCC (India) Ltd. was announced. The two entities signed a memorandum of understanding (MoU) for developing a 10-acre institutional plot in Sector-62, Noida.
The ambitious project, with an estimated cost of ₹600 crore, aims to establish a state-of-the-art institutional complex spread over 8.71 lakh sq. ft. of built-up area. This development will feature a blend of office spaces, studio apartments, conference areas, retail zones, and shared amenities, offering a comprehensive solution for modern business and lifestyle needs.
NBCC will serve as the project management consultant, overseeing the execution from conceptualization to commissioning.
HUDCO’s announcement of this venture has fueled investor optimism, driving its shares higher. The project underscores HUDCO’s commitment to urban development and innovative infrastructure solutions, positioning it as a key player in India’s real estate growth.
As of 9:19 am, Ashoka Buildcon shares were trading 4.26% higher at Rs 229.80 on the NSE.
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