NBCC (India) (NSE:NBCC) has signed a memorandum of understanding with Sarkari Awas Nirman Avam Vitt Nigam for the development of a mixed land-use project in Poorvi Vihar, Lucknow, India, spanning about 588 acres, according to a Monday filing with the Indian bourses.
The state-owned construction firm will act as the project management consultant under the agreement. It will be responsible for the possession, planning, design, and development of a 50-acre site valued at about 35 billion Indian rupees, as the first phase of the project, the filing said.
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