New Delhi: National Projects Construction Corporation Limited (NPCC) has ascended in the hierarchy that regulates the categorisation of public sector undertakings (PSUs) and has been conferred with the status of a Miniratna (Category 1) by the government.
According to a statement released by the Ministry of Water Resources, River Development and Ganga Rejuvenation, the upgrade is going to help NPCC in taking speedy decisions by enhancing the delegation of powers to the Board.
NPCC has been making continuous profits since 2009-10, having positive net worth for the last six years and has an order book worth Rs 11,833 crore.
The status is awarded to state-owned companies that have been making profits consistently for the last three years or earned a net profit of Rs 30 crore or more in one of the three years. NPCC has been making continuous profits since 2009-10, having positive net worth for the last six years and has an order book worth Rs 11,833 crore.
NPCC, a schedule ‘B’ CPSE under the administrative control of Ministry of Water Resources RD and GR, has also been awarded ISO 900:2015 Certification. The Corporation, incorporated in 1957, is a premier construction company with a mandate to create the infrastructure to provide an impetus for economic development of the country, the press release said.