Navratna CPSE bags Rs 3,700-crore deal to develop state Mandapam Convention Centre; stock up 12% YTD

NBCC Order Win, Navratna PSU Stock to Track: Navratna central public sector enterprise NBCC India Ltd — a PSU real estate developer — said on Monday it has secured a major order from the Rajasthan government. NBCC will develop the Rajasthan Mandapam Convention Centre in the state at the cost of Rs 3,700 crore, according to a regulatory filing. 

The order includes innovation projects along with other urban projects. 

NBCC has been selected as the lead agency to design, build, and market the convention centre, the Global Capability Centre (GCC) Tower, the IT Tower, luxury hotels, and new commercial and residential infrastructure, spread over 95 acres of Rajasthan State Industrial Development & Investment Corporation (RIICO) land along the B2 Bypass on Tonk Road, it said. 

The state government has announced this transformative development project with its recent cabinet approval, with an overall estimated investment reaching approximately Rs 3,700 crore, it said. 

Rajasthan Mandapam Convention Centre dimensions

There are plans for the Rajasthan Mandapam Convention Centre to be developed on approximately 25 acres of land, according to the filing. 

With over 2 lakh square metres of built-up area, the planned centre is envisioned to have a world-class facility with a seating capacity of 7,000-7,500.

The state government granted approval for the development of the centre along with other urban development and Innovation projects amounting to approximately Rs 3,700 crore, said the PSU. 

The PSU operates under the Ministry of Housing and Urban Affairs and whose primary function is to develop real estate projects and provide EPC and project management consultancy services. 

ALSO READ: PSUs Decoded | What makes a CPSE a Maharatna, Navratna or Miniratna?

NBCC shares vs Nifty 50 

NBCC shares ended 0.6 per cent higher at Rs 104.2 apiece on BSE after the announcement, having risen as much as 1.4 per cent to touch Rs 105 on the upside during the session. 

The stock halted a three day losing streak. 

NBCC shares have grown 12.3 per cent so far in 2025, outperforming a 5.2 per cent rise in the Nifty 50 index.

ALSO READ: Real Estate Market News: Property rates coming down in this city; check out name, reasons and other key details