Big Boost for Jaipur: NBCC Teams Up with RIICO for Rs 3,700 Crore Infrastructure Project
In a major push to transform Jaipur into a global hub for events and shopping, government-owned construction giant NBCC has inked a key deal with Rajasthan’s RIICO. The agreement, signed on Thursday, targets massive infrastructure development worth Rs 3,700 crore across 95 acres of prime land near Jaipur International Airport.
This exciting project spotlights the Rajasthan Mandapam, a grand convention centre, along with the Unity Mall and other commercial and cultural spots. NBCC steps in as the sole executing agency, handling everything from master planning and architectural design to engineering, construction, and top-notch international marketing. The goal? Turn Jaipur into a hotspot for world-class conventions and innovative retail experiences.
RIICO kicks things off with an interest-free advance of Rs 50 crore to NBCC. The rest of the funding will come from selling and leasing built-up spaces and plots. Officials aim to wrap up the entire project in just 30 months, once they get the necessary approvals. The initiative also includes up to Rs 635 crore in government support for the Rajasthan Mandapam, ensuring everything stays on track with transparency and accountability.
The signing ceremony brought together big names like Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, Additional Chief Secretary Shikhar Agrawal (who also chairs RIICO), and NBCC CMD K.P. Mahadevaswamy, plus other top officials from both sides.
Adding to the good news, NBCC (India) Ltd just reported strong financial growth. In the April-June quarter of FY 2025, the company’s net profit soared 26% to Rs 132.13 crore, up from Rs 104.62 crore last year. Revenue climbed 11.6% to Rs 2,391.19 crore from Rs 2,142.53 crore in the same period.
As a Navratna public sector enterprise, NBCC has declared its first interim dividend of Rs 0.21 per share for FY 2025-26. Shareholders eligible for this payout can check the record date set for August 13, 2025.
This NBCC-RIICO partnership promises to elevate Jaipur’s infrastructure game, creating jobs and boosting tourism in Rajasthan. Stay tuned for more updates on this game-changing Jaipur development project!
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