Housing and Urban Development Corporation (NSE:HUDCO, BOM:540530 ) has entered a memorandum of understanding with NBCC (India) (NSE:NBCC, BOM:534309), according to a Wednesday filing to the stock exchanges.
Under the pact, the two companies will develop a land parcel of 10 acres, owned by HUDCO in Noida, India, to create an institutional complex. NBCC will execute the project with the scope of concept-to-commissioning.
The project will have a mix of office space, studio apartments, conference space, and retail and common facilities.
HUDCO shares were up over 2% in recent trade.
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