State-owned NBCC has signed a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to jointly execute housing and urban development projects in Maharashtra worth an estimated Rs 250 billion.

The strategic collaboration between the two entities will focus on a wide range of consultancy, fee-based, engineering-procurement-construction (EPC), and redevelopment projects—right from the conceptual stage to final execution. This marks NBCC’s entry into redevelopment projects in Maharashtra, following its successful implementation of a similar model in Delhi.

As part of this partnership, NBCC and MAHAPREIT will work together on key infrastructure initiatives across the state. These include cluster development projects in the Thane Municipal Corporation, development of data centres, implementation of renewable energy projects, slum rehabilitation initiatives within the Mumbai Metropolitan Region (MMR), and residential housing schemes under the Pradhan Mantri Awas Yojana (PMAY).

The planned projects are expected to be rolled out in phases over the next three to five years. The MoU was formalised by senior officials from both organisations, including Pradeep Sharma, Executive Director, NBCC, and Murthy PRK, Project Director, MAHAPREIT. The signing ceremony was attended by K P Mahadevaswamy, Chairman and Managing Director, NBCC, and Bipin Shrimali, Managing Director, MAHAPREIT.

NBCC, a central public sector enterprise, operates primarily in the Project Management Consultancy (PMC) and real estate sectors. The collaboration is expected to significantly contribute to Maharashtra’s infrastructure and urban development goals.

News source: Business Standard