NEW DELHI: Housing and Urban Development Corporation Limited (HUDCO) announced on Saturday that it has entered into two Memorandums of Understanding (MoUs) with NBCC (India) Limited for collaboration on redevelopment and asset monetization projects.
As per a stock exchange filing, “HUDCO has signed two MoUs with NBCC on April 11, 2026.”
The first MoU aims at the redevelopment of a significant property located in the national capital. The filing noted that the two companies will “collaborate on the redevelopment of a leasehold plot… approximately 18,830 sq mt. at Block No. 25, August Kranti Bhawan, Bhikaji Cama Place, New Delhi.”
The scope of work includes “techno-economic feasibility studies, construction and project management, and monetization of the built-up space, among other tasks.”
The second MoU focuses on asset monetization opportunities within NBCC’s projects. According to the filing, both companies will “engage in asset monetization activities to support NBCC’s self-sustaining model projects.”
HUDCO will provide financial backing for these initiatives. The company stated, “With the approval of the Government of India, HUDCO will finance ongoing and upcoming projects aligned with NBCC’s self-sustaining model.”
Meanwhile, NBCC will manage execution and offer consultancy. The filing specified that “NBCC will provide project management and consultancy services.”
Both MoUs are time-sensitive, remaining valid for two years from the execution date, subject to annual review. Either party can terminate the agreements with one month’s prior written notice.
These agreements aim to enhance cooperation and leverage each organization’s strengths in project execution.
