NBCC (India) Limited has announced the incorporation of NBCC Overseas Real Estate LLC as a wholly-owned subsidiary in Dubai Mainland, UAE. This newly formed entity has a nominal and paid-up capital of AED 10,00,000 and will operate in the real estate industry, specifically focusing on buying and selling real estate in Dubai.
The incorporation, which makes NBCC Overseas Real Estate LLC a related party to NBCC (India) Limited, received reiteration of approval from the Department of Investment and Public Asset Management (DIPAM) on February 24, 2025, with RBI-ODI approval currently awaited. NBCC (India) Limited has acquired 100% of the equity share capital through a cash subscription at face value.
Earlier, the company was awarded a significant renovation project valued at approximately Rs 95.66 crore (excluding GST) for the Sushma Swaraj Institute of Foreign Service in New Delhi. This work order, received from the Ministry of External Affairs, underscores NBCC's continued role in undertaking important infrastructure and renovation projects for government institutions.
