HUDCO, NBCC ink MoUs to fast-track urban redevelopment and asset monetization

New Delhi: Housing and Urban Development Corporation Limited and NBCC (India) Limited have signed two Memoranda of Understanding (MoUs) aimed at fast-tracking urban redevelopment projects and strengthening asset monetisation initiatives, according to an official statement.

Follow The PSUWatch Channel on WhatsApp

The agreements have been signed by HUDCO Chairman & Managing Director (CMD) Sanjay Kulshrestha and NBCC Chairman & Managing Director K. P. Mahadevaswamy. The MoUs pertain to the redevelopment of a leasehold plot at August Kranti Bhawan in Bhikaji Cama Place, New Delhi, and provision of funding support by HUDCO for NBCC’s ongoing and upcoming projects under its self-sustainable model.

The documents were executed by senior officials from both organisations, including HUDCO Executive Director Radha Roy and Bhushan Kumar, along with NBCC Executive Director (Business Development) Pradeep Sharma, in the presence of functional directors and other senior officials.

Follow PSU Watch on LinkedIN

As part of the collaboration, the two Navratna public sector undertakings will work closely over the next two years across key areas such as techno-economic feasibility studies, construction and project management, and monetisation of built-up space.

The partnership is expected to significantly contribute to urban infrastructure development by leveraging HUDCO’s financial capabilities and NBCC’s execution expertise. The collaboration also aligns with broader efforts to enhance efficiency in redevelopment projects and unlock value from urban land assets through structured monetisation strategies.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)