HUDCO, NBCC sign MoUs for Delhi redevelopment, asset monetisation

New Delhi [India], April 12 (ANI): Housing and Urban Development Corporation Limited (HUDCO) on Saturday said it has signed two Memorandums of Understanding (MoUs) with NBCC (India) Limited to collaborate on redevelopment and asset monetisation projects.
According to a stock exchange filing, "HUDCO has signed two Memorandums of Understanding (MoUs) with NBCC (India) Limited (NBCC), on 11th April, 2026."
The first MoU focuses on the redevelopment of a key property in the national capital. The filing said both companies will "collaborate and jointly work towards redevelopment of leasehold plot... admeasuring approx. 18830 sq mt. at Block No. 25, August Kranti Bhawan, Bhikaji Cama Place, New Delhi."
It added that the work will include "techno-economic feasibility study, construction and project management, monetisation of built-up space, etc."
The second MoU is aimed at monetising assets under NBCC's projects. As per the filing, the two companies will "undertake asset monetisation activities for NBCC's self-sustainable model projects."
HUDCO will also support these projects financially. The company said, "With the permission of Government of India, HUDCO shall provide funds for ongoing and upcoming projects of NBCC's self-sustainable model."
NBCC, on the other hand, will handle execution and consultancy. The filing noted that "NBCC shall provide project management and consultancy services."
Both agreements are time-bound. The MoUs state that "this MoU shall remain valid for 2 years from the date of execution and shall be subject to annual review," with an option for either party to exit by giving one month's written notice in advance.
The company said the agreements are part of efforts to "reinforce cooperation and collaboration to leverage respective strengths" for project execution. (ANI)