National Buildings Construction Corporation (NBCC) said Monday the company has executed project specific Memorandum of Understanding (MoU) with NAWADCO for the development of four properties of WAQF Board.
The four properties are Gulistan Shadi Mahal, Masjid-e-Mavalli, Dargah Hazrat Attaullah Shah in Bangalore and Takiya Chand Shah in Jodhpur. The company said overall construction cost is Rs 3.98 billion.
The project specific MoU has been executed as per general MoU signed between NBCC and NAWADCO on Sept. 8, 2014 for the development of various properties of WAQF Board.
Recently the company has secured work order worth Rs 15.28 billion in April 2015. NBCC shares rallied after securing large order.
Shares of the company gained Rs 16.25, or 2.11%, to settle at Rs 788.20. The total volume of shares traded was 118,588 at the BSE (Monday).