PSUs

NBCC signs MoU with Housing & Urban Affairs Ministry for FY 2020-21

By IndianMandarins- 01 Jan 2021
182

nbcc-signs-mou-with-housing-urban-affairs-ministry-for-fy-2020-21

New Delhi (31.12.2020): NBCC (India) Ltd, a Navratna CPSE, on 29 December 2020, signed an Annual Memorandum of Understanding (MoU) for the FY 2020-21 with its administrative Ministry (Housing & Urban Affairs), outlining the performance targets for the Company. The MoU was signed by Durga Shanker Mishra (Secretary, MoHUA) on behalf of the Ministry while PK Gupta (CMD, NBCC) signed on behalf of NBCC. Kamran Rizvi (Additional Secretary, MoHUA), Rahul Kashyap (Director, MoHUA), Neelesh Shah (Director- Projects, NBCC)) Mrs BK Sokhey (Director- Finance, NBCC) and Pawan Kumar (Executive Director, NBCC) along with other officials of the Ministry and NBCC were present at the MoU signing event. The MoU FY20-21 sets performance targets for the Company. The MoU also spells out milestones to be achieved by the company in respect of completion of projects, financial closure of physically completed projects, finished goods inventory sale, trade receivables, return on an equity investment from the subsidiaries etc.

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