Two Memoranda of Understanding (MoUs) were signed on 11 April in the presence of Sanjay Kulshrestha, CMD, HUDCO, and Dr K P Mahadevaswamy, CMD, NBCC (India) Limited,. The MoUs were executed by Mrs Radha Roy, Executive Director (ED), HUDCO; Bhushan Kumar, ED (Business Development), HUDCO; and Pradeep Sharma, ED (Business Development), NBCC. Functional Directors and senior officials from both organizations were also present on the occasion.

The MOU was signed for Redevelopment of leasehold plot at Block No. 25, August Kranti Bhawan, Bhikaji Cama Place, New Delhi and providing funds by HUDCO for ongoing and upcoming projects of NBCC’s self-sustainable model on mutually agreed terms and conditions. This will give boost to NBCC’s redevelopment projects on self-sustainable model as funds would be availed on reasonable terms and conditions which will not only expedite the start of projects but also increase the profit margins to the valuable clients. The partnership is expected to expedite project execution, enhance asset value, and contribute to urban infrastructure development.