Director's Report

NBCC (India) Ltd
BSE Code 534309 ISIN Demat INE095N01031 Book Value (₹) 9.86 NSE Symbol NBCC Div & Yield % 1.63 Market Cap ( Cr.) 5,535.00 P/E * 19.71 EPS * 1.56 Face Value (₹) 1
* Profit to Earning Ratio
* Earning Per Share

Dear Shareholders,

On behalf of the Board of Directors, the achievements and highlights of your Company during the financial year ended March 31, 2021 and 61st Annual Report are hereby presented on the business and operations of NBCC (India) Limited and its Audited Financial Statements with the Auditors' Report and Comments on the Accounts by the Comptroller and Auditor General (CAG) of India.

Financial Highlights

The financial highlights for the year under review are as follows:

(Rs. in crore)

REVENUE FY 2020-21 FY 2019-20
Consolidated Standalone Consolidated Standalone
Value of Service 6739.94 4883.24 8027.50 5,179.72
Other Operating Revenue 92.13 64.21 59.57 30.61
Other Income 180.29 172.63 205.93 235.10
Total Revenue (A) 7012.36 5120.08 8,293.00 5445.43
Land Cost & Material Consumed 1.32 1.32 8.21 8.15
Change in inventories of Real Estate Projects 36.80 48.11 46.36 46.36
Work &Consultancy Expenses 6227.20 4469.12 7413.45 4,742.80
Employees Benefit Expenses 308.80 238.31 330.30 253.72
Finance Cost 6.62 6.60 6.69 6.66
Depreciation 5.57 2.31 6.50 2.77
Other Expenses 113.37 88.11 179.32 139.67
Write-offs 25.37 21.75 5.90 4.02
Total Expenses (B) 6725.05 4875.63 7,996.73 5204.15
Share of Profit/ (Loss)in Joint Ventures (Net of Tax) (0.20) - 0.86 -
Exceptional Items - - - -
Profit Before Tax (PBT) (A-B) 287.11 244.45 297.13 241.28
Tax Expense
i) Current Tax 63.83 60.63 77.23 63.79
ii) Deferred Tax 7.32 1.83 126.55 97.62
iii) Tax w.r.t. Earlier Years (20.28) (19.75) (6.52) -
Profit After Tax (PAT) 236.24 201.74 99.87 79.87
Earning Per Share (Basic & Diluted) (Face value of Equity Shares is Rs 1/- per share) 1.23 1.12 0.43 0.44

Operations and Business Performance

For the FY 2020-21, total income from operations was Rs. 5,120.08 crore (standalone) and Rs. 7,012.36 crore (consolidated) whereas profit after tax was Rs. 201.74 crore (standalone) and Rs. 236.24 crore (consolidated).

MoU Performance

NBCC is expected to achieve "Very Good" rating for the FY 2020-21.


The Company did not transfer any amounts to its general reserve during the financial year ended 31st March, 2021.


Your Directors have recommended a final dividend of Rs. 0.47/- per fully paid-up equity share of Rs. 1/- each (i.e. @47%) for the financial year 2020-21, subject to the approval of the members at the ensuing Annual General Meeting.

Dividend has been declared considering the Dividend Distribution Policy of the Company and the dividend payout has been recommended considering the deployment of the Company's internal accruals for growth plans.

Disinvestment by Government of India

There was not any disinvestment made by the Government of India (GOI) in the company during the FY 2020-21. The GOI's holding as on March 31, 2021 was 111,15,79,093 equity shares i.e. 61.75% of total paid up share capital of the Company.

ISO Certification

Your Company is a certified ISO 9001:2015 in Project Management & Consultancy.

Awards Conferred During the Year 2020-21

NBCC continued on the path of excellence and innovation, achieving several accolades and awards during the years follows:

• Energy and Environment Foundation Global Award 2020: NBCC won the prestigious "The Energy and Environment Foundation Global Award 2020" Award in Platinum Category for "Mahatama Gandhi International Conference Centre, Niamey, Niger", constructed by the company.

• NSCI Safety Awards: NBCC's project "Redevelopment of ITPO Complex into Integrated Exhibition-cum-Convention Centre (IECC), Pragati Maidan, New Delhi" has won the "Prashansa Patra (Certificate)" for demonstrating the outstanding performance in occupational safety and health by National Safety Council of India, Ministry of Labour & Employment.

• ELETS National PSU Award 2020: NBCC has been conferred the 5th National PSU Summit Award of Excellence for "Construction of Residential-cum-Training complex for Special Protection Group of Sector 21- Dwarka, New Delhi" under the category building Sustainable Infrastructure & Development. The project SPG complex - II, sector 21 Dwarka, New Delhi is certified by Indian green building council (IGBC) under platinum category in 2019.

• "GREAT PLACE TO WORK" Recognition: NBCC yet again wins the coveted status of "Great Place to Work". This is the second consecutive year when NBCC has received this celebrated and distinguished status. Every year, The Great Place to Work Institute, a global benchmarking authority on workplace cultures after their extensive assessment on Quality of Employees Experience (Trust Index) and Cultural Audit of more than 10,000 organizations from over 60 countries certifies organizations as Great-Place-to-Work. This significant achievement of NBCC is a direct outcome of consistent efforts put in by its HRM team and management.

Fixed Deposits

During the year under review, your Company has not accepted any deposit and no principal or interest was outstanding as on March 31, 2021.

Loan, Guarantees and Investments

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements forming part of this Annual Report.

Subsidiaries, Joint Ventures and Associate Companies

Subsidiaries: During the FY 2020-21, the Company has total eight (8) subsidiaries in which six(6) are wholly owned subsidiaries (100%) namely NBCC Services Limited, NBCC Engineering & Consultancy Limited, NBCC International Limited, NBCC Environment Engineering Limited, HSCC (India) Limited and NBCC DWC-LLC (a foreign subsidiary), one (1) subsidiary (51%) i.e. Hindustan Steelworks Construction Limited and one (1) foreign subsidiary namely NBCC Gulf LLC, Oman where NBCC is holding 70% equity.

Further, NBCC has a Joint Venture with the Government of Rajasthan in the name of the 'Real Estate Development and Construction Corporation of Rajasthan Ltd', where both the parties hold 50% of the issued share capital.

The Board of Directors of NBCC and the Administrative Ministry i.e Ministry of Housing and Urban Affairs (MoHUA) has given their respective approvals to close down three wholly-owned subsidiary Companies of NBCC i.e. NBCC International Limited (NIL), NBCC Environment Engineering Limited (NEEL), NBCC Engineering & Consultancy Limited (NECL) and one foreign subsidiary i.e. NBCC Gulf LLC.

During the FY 2020-21, NBCC has filed application before Ministry of Corporate Affairs for merger of NBCC International Limited (NIL) and NBCC Environment Engineering Limited (NEEL) with holding company i.e. NBCC.

During the FY 2020-21, NBCC Engineering & Consultancy Limited has commenced its Voluntary Winding up and appointed Official Liquidator for the same.

During the FY 2020-21, NBCC Gulf LLC, Oman has commenced its Voluntary Winding up and finally liquidated on June 20, 2021.

The Company has formulated a policy on identification of material subsidiaries in line with Regulation 16(c) of the SEBI LODR Regulations and the same is placed on the website of the Company.

Pursuant to the provisions of Section 129(3) of the Act, a statement containing the salient features of financial statements of the Company's subsidiaries in Form AOC-1 is provided in note to the consolidated financial statement.

Further, pursuant to the provisions of Section 136 of the Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited financial statements in respect of subsidiaries, are available on the website of the Company

Company Response To Covid-19

During FY 2020-21, the COVID pandemic increased rapidly forcing Governments of most countries to enforce a lockdown of all activities. Leading to the various guidelines issued in India by the Central and State Governments and abroad by various agencies on the Covid-19 pandemic. Your Company immediately took several measures to ensure health and safety of its workers and other employees and thereafter, steps were taken to ensure business continuity of essential services and projects development.

Human Resource Development

The strong, dedicated and resilient workforce of NBCC continued to perform their duties, despite challenges posed by Covid-19. The total number of employees as on March 31, 2021 were 1496. NBCC takes pride in its highly motivated and competent Human Resource that has contributed its best to bring the Company to present heights. Over all these years of Company's ascendancy, employees are the driving force behind the sustained stellar performance of your Company. As a commitment towards your Company's core values, employees' participation in Management was made effective based on mutual respect, trust and a feeling of being a progressive partner in growth and success.

The Company maintains cordial industrial relations with all Unions and Associations of the Company, and continued to provide comprehensive welfare facilities to its employees to take care of their health, efficiency, social well beings, economic betterment, etc which motivate employees to perform with their best efforts at the workplace. HRM has always supported participative culture in the management decision making through a consultative approach which help in establishing harmonious relationship for higher productivity. Employees' participation is also ensured through information-sharing with on a regular basis which help employees share their suggestions and provide their support in various decision making.

The Company believes in holistic and meaningful employee engagement; and their development to catalyse the emergence of the highest potential of employees. The Company appreciates the role of its human capital in propelling the Company to new heights. During Covid-19 pendamic , the Employees from Human Resource Discipline were front runner to drive the initiatives taken by the organization. The Human Resource officers acted as Covid Warriors and were responsible for facilitating employees by providing the following:-

1. Arranging hospitalization, oxygen concentrators, medicines for employees and their dependents suffering with Covid 19 pandemic

2. Facilitating Covid Vaccination to employees and their dependants throughout the Company

3. Arranging and providing food packets to needy people amid COVID pandemic

The Human Resource Division acted as savior by providing appropriate measure as per Government of India guidelines and other essential assistance to employees of the company.

The position of recruitment of SC/ST employee's, category-wise for the year 2020-21 is as under:-

Sl. No. Group General OBC EWS SC/ST Total
SC %(SC) ST %(ST)
1. Group 'A' 04 03 01 01 9.09 02 18.18 11
2. Group 'B' 00 00 00 00 00.0 00 0.0 00
3. Group 'C' 00 00 00 00 00.0 00 0.0 00
Total 04 03 01 01 9.09 02 18.18 11

Directive issued by the Govt. of India from time to time for filling up of vacancies for SC/ST/OBC/Ex.-servicemen have been observed in the Company in true spirit.

Government instructions regarding reservation, relaxations, concessions & benefits as provided under rules for persons with disabilities (Equal Opportunities, Protection of Rights & full participations) Act, 1995 have been complied with.

Details on SC, ST, OBC, PWD

The company complies with Government of INDIA Directives on all matters related to Reservation to SC, ST, OBC, PWD and EWS, in various recruitment activities and special drives proper care is taken for extension of benefit of reservation to the applicant.

In addition to above, The Company has constituted SC/ST, OBC , PWD Cell which headed by senior officer alongwith dedicated Liaison officer who ensure proper justice is meted out to employees belonging to reserve category. Further, in compliance to directives of Administrative Ministry, the company has also constituted Interval Grievance Rederessal Committee (IGRC) for employees belonging to Scheduled Castes .

To ensure harmonious relations, the company organize various meetings at regular intervals with SC/ST Employees Welfare Association of the company and concerns , grievances highlighted during meeting are resolved amicably.

Further, during FY 2020-21, the company had organized various recruitment drives to fill up the backlog vacancies, details of the same are as below

S.No Special Recruitment Drive for No of backlog vacancies
1 Addl. General Manager (Finance) 01-OBC (NCL)
2 Dy. General Manager (Engg.) (Civil) 02-ST
3 Project Manager (Civil) 01-PWD-HH
4 Dy. Project Manager (Civil) 01-PWD-HH
5 Sr. Project Executive (Electrical) 01-OBC (NCL) & 01-SC
6 Assistant Manager (HRM) 01-ST
7 Sr. Stenographer 01-OBC (NCL)
8 Office Assistant (Stenographer) 03-OBC (NCL)

No. of Regular/NMR/PRW/WE Employees at the close of the year.

No. of regular employees 1496
No. of NMR 0
No. of WE/PRW 0

Working Status of Woman Employees in the Company-Category wise, and SC/ST/VH/PH group-wise.

(i) Working status of Woman employees category-wise:

Sl. No. Category of Posts (Group) Nos. of Woman employees
1 Group 'A' 89
2 Group 'B' 15
3 Group 'C' 17
5 Group 'D' 0
Total 121

(ii) Total Numbers. GroupWise SC/ST/VH/PH:

Sl. No. Category of Posts (Group) Nos. of employees
Total Employees SCs STs OBC VH HH PH(OPH)
1 Group 'A' 771 143 44 157 3 2 7
2 Group 'B' 141 18 11 38 1 0 1
3 Group 'C' 584 95 3 52 1 3 8
Total 1496 256 58 247 5 5 16

Manpower Status as on March 31, 2021

Discipline & Category Wise
Category Engineers (C/E/M/ PHE/EM/ Arch./Sys. Engg./ Plng. etc.) Technical (Other than Engrs.) i.e. DPM/SPE/ PE/ASM/ JSE/ JE-I/JE- M/JE-rn WI/ AWI Finance HRM (OA-I/II/ III/Sectl. RB/Law/ Board/ CC/P & PI). Market ing Material Mgmt. Oper ative Level Others Total
BOARD LEVEL 3 - 1 - - - - - - 4
CVO - - - - - - - - 1 1
'A' 501 13 142 78 20 7 5 - - 766
'B' 110 12 - 17 1 - 1 - - 141
C'(i) 39 - - 11 - - - - - 50
(ii) - 5 - - - - - - - 5
(iii) - - - - - - - 529 - 529
TOTAL 653 30 143 106 21 7 6 529 1 1496

Number of persons employed during the year 2020-21:

Sl. No. Group Nos. of persons employed
1. Group 'A' 11
2. Group 'B' 00
3. Group 'C' 00
Total 11


Human Resource Development is the prime importance for any organization to achieve the organization's goal. Keeping in view the present innovative & challenging market, this division has arranged need based in-house and external training programs / technical workshops to make officials / employees aware of latest trends, techniques, and changes taking place in their respective fields and to enhance their knowledge so that they work with more potential and zeal to achieve the organizational goal.

Discipline-wise details of officials/employees imparted internal training during FY 2020-21 is as under:

Sl. No. Name of the Program Type of Training Level of Officers nominated Month Number of Days Number of Participants Total Mandays
2 E-Office Functional DGM to Jr. Engg. Level April 0.5 21 10.5
3 E-Office Functional DGM to Jr. Engg. Level April 0.5 18 9
4 E-Office Functional DGM to Jr. Engg. Level April 0.5 44 22
5 E-Office Functional DGM to Jr. Engg. Level April 0.5 41 20.5
6 E-Office Functional DGM to Jr. Engg. Level April 0.5 25 12.5
7 E-Office Functional DGM to Jr. Engg. Level April 0.5 25 12.5
8 E-Office Functional DGM to Jr. Engg. Level April 0.5 55 27.5
9 E-Office Functional DGM to Jr. Engg. Level April 0.5 12 6
10 Bank Guarantees/ How to avoid repetitive audit observations Technical DGM to Jr. Engg. Level April 0.5 33 16.5
11 E-Office Functional DGM to Jr. Engg. Level April 0.5 55 27.5
12 E-Office Functional DGM to Jr. Engg. Level April 0.5 35 17.5
13 E-Office Functional DGM to Jr. Engg. Level April 0.5 66 33
14 E-Office Functional DGM to Jr. Engg. Level April 0.5 31 15.5
15 E-Office Functional DGM to Jr. Engg. Level April 0.5 20 10
16 E-Office Functional DGM to Jr. Engg. Level April 0.5 43 21.5
17 E-Office Functional DGM to Jr. Engg. Level April 0.5 28 14
18 Finance for Non Finance Technical AGM to Jr. Engg. Level April 0.5 28 14
19 Work Manual / GCC/ Contract Engineering Technical AGM to Jr. Engg. Level April 0.5 72 36
20 Code on Wages Functional AGM to Jr. Engg. Level April 0.5 30 15
21 Work Manual / GCC/ Contract Engineering (Question / Answer) Technical AGM to Jr. Engg. Level April 0.5 53 26.5
22 Indian Legal System, Juricdic- tion/CAT Functional AGM to Jr. Engg. Level April 0.5 24 12
23 Management Be havioural AGM to Jr. Engg. Level April 0.5 20 10
24 Service Rule Functional AGM to Jr. Engg. Level April 0.5 21 10.5
25 Bank Guarantees/How to avoid repetitive audit observations Technical AGM to Jr. Engg. Level May 0.5 51 25.5
26 Work Manual / GCC/ Contract Engineering (Question / Answer) Technical AGM to Jr. Engg. Level May 0.5 70 35
27 Prevetion of Sexual harassment Be havioural AGM to Jr. Engg. Level May 0.5 20 10
28 Finance for Non Finance Officials Technical AGM to Jr. Engg. Level May 0.5 42 21
29 Time management Be havioural AGM to Jr. Engg. Level May 0.5 15 7.5
30 Preventive vigilance Functional AGM to Jr. Engg. Level May 0.5 17 8.5
31 E office Functional AGM to Jr. Engg. Level May 0.5 100 50
32 Art of Delegation Be havioural AGM to Jr. Engg. Level May 0.5 15 7.5
33 Six Thinking Hats Be havioural AGM to Jr. Engg. Level May 0.5 6 3
34 Johari Window Be havioural AGM to Jr. Engg. Level May 0.5 8 4
35 Work Manual / GCC/ Contract Engineering (Question / Answer) Technical AGM to Jr. Engg. Level May 0.5 65 32.5
36 Comparative Study of Content Theories of Motivation Be havioural AGM to Jr. Engg. Level May 0.5 5 2.5
37 Management Lessions from Ramayana / Mahabharat Be havioural AGM to Jr. Engg. Level May 0.5 8 4
38 Virtual session on "Force Majure in Infra structure Projects" Technical ED to manager May 0.5 3 1.5
39 Transactional Analysis Be havioural AGM to Jr. Engg. Level May 0.5 8 4
40 Management Lessions from Ramayana / Mahabharat Be havioural AGM to Jr. Engg. Level May 0.5 7 3.5
41 Construction Project Management Technical AGM to Jr. Engg. Level May 1 88 88
42 Construction Project Management Technical AGM to Jr. Engg. Level May 1 123 123
43 Construction Project Management Technical AGM to Jr. Engg. Level May 1 117 117
44 Meditation for Healthy and Happy Life Be havioural All June 0.5 100 50
45 Contracts & Claim Management under COVID-19 Pandemic Technical CGM to AGM June 0.5 2 1
46 Orientation Program Orienta tion AM July 2 35 70
47 GRIHA Rating & Green Building (Batch-I) Technical GM to Jr. Engg. Level July 1 192 192
48 GRIHA Rating & Green Building (Batch-II) Technical GM to Jr. Engg. Level August 1 123 123
49 GRIHA Rating & Green Building (Batch-III) Technical GM to Jr. Engg. Level August 1 61 61
50 Concrete Technology, Material Testing and cracks, leakages and seepage" (Batch - I) Technical GM to Jr. Engg. Level August 2 80 160
51 Concrete Technology, Material Testing and cracks, leakages and seepage" (Batch - 2) Technical GM to Jr. Engg. Level August 2 82 164
52 Concrete Technology, Material Testing and cracks, leakages and seepage" (Batch - 3) Technical GM to Jr. Engg. Level Septem ber 2 105 210
53 POSH Be havioural GM to Jr. Engg. Level October 0.5 93 46.5
54 Safety Training (Batch -I) Functional AGM to Jr. Engg. Level Novem ber 2 48 96
55 Establishment Rules Functional DGM to Jr. Engg. Level Novem ber 4 2 8
56 Management Development Program Be havioural CGM to AGM Novem ber 3 18 54
57 Safety Training (Batch -II) Functional AGM to Jr. Engg. Level Decem ber 2 47 94
58 Right to Information Functional AGM to Jr. Engg. Level Decem ber 0.5 82 41
59 Management Development Program (Batch -II) Be havioural CGM to AGM Decem ber 3 25 75
60 SAP Training Functional AGM to Jr. Engg. Level January 20 20 400
61 Project Execution and Concrete Technology Technical GM to Jr. Engg. Level January 6 40 240
62 Induction Training (MT-F) Orienta tion AM January & February 5 3 15
63 Reservation Policy Functional AGM to Jr. Engg. Level February 0.5 25 12.5
64 Departmental Enquiry Functional AGM to Jr. Engg. Level February 0.5 63 31.5
65 Project execution and concrete technology (Batch-II) Technical GM to Jr. Engg. Level February 6 33 198
TOTAL (A) 88 2883 3308.5

Total 3308.50 mandays training (internal & external) were achieved for Group A & B employees during the FY 2020-21.

Industrial Relations

Industrial Relations scenario in the Company during the FY 2020-21 had remained peaceful and conducive. No man days were lost in strike etc., since all the industrial disputes and difference were resolved amicably across the table. Cordial & harmonious relationship maintained with all stake holders/Unions/Association. Structured meeting held regularly on quarterly basis.

Safeguard of Women at Workplace

The Company has in place a Policy on Prevention, Prohibition and Redressal of Sexual Harassment of Women at Workplace in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013.

An internal committee has been set up to redress the complaints received regarding sexual harassment. The committee functions in accordance with the model code of conduct developed by National Commission for Woman, Ministry of Woman and Child Development. The Committee spread awareness amongst the employees regarding 'Zero Tolerance' for sexual harassment at work place.

The committee also investigates reported cases of sexual harassment. All employees (permanent, contractual, temporary and trainees) are covered under this policy. The Company has on its roll 121 women employees in various cadres at the project and office premises. There were NIL, cases filed during the financial year ended March 31, 2021.

Management Discussion and Analysis Report

The Management Discussion and Analysis Report as provided under Regulation 34 read with Schedule V to the Listing Regulations with the stock exchanges forms part of this Report as Annexure - I.

Directors' Responsibility Statement

Your Directors confirm that:

• In the preparation of annual accounts for the financial year ended March 31, 2021, the applicable Indian Accounting Standards read along with proper explanation to material departures; have been followed;

• The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

• The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

• The Directors had prepared the annual accounts on a going concern basis;

• The Directors had laid down internal financial controls to be followed by the Company and such internal controls are adequate and were operating effectively and;

• The Directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Corporate Governance Report

The Company complies with the SEBI (Listing and Obligations and Disclosure Requirements) Regulations, 2015 and guidelines issued by DPE on Corporate Governance.

The requisite certificate from the Statutory Auditors of the Company, M/s Dhawan & Co., Chartered Accountants, confirming compliance with the conditions of corporate governance as stipulated under the aforesaid Listing Regulations is attached to Corporate Governance Report. The Corporate Governance Report for the year ended March 31, 2021 forms part of this report as Annexure- II.

Contracts and Arrangements with Related Parties

During the year under review, the Company had not entered into any contract/arrangement/transaction with related parties, which could be considered material in accordance with the policy of the Company on materiality of related party transaction. The policy on materiality of related party transactions is available on the Company's website, at the link webEnglish/policies.

The related party contracts referred in section 188 of the Companies Act, 2013 in Form AOC-2 is enclosed as Annexure -III.

Quality Assurance/Quality Control Manual

Quality Assurance (QA) and Quality Control (QC) both are part of Quality Management System (QMS) wherein QA focuses on preventing the defects while QC focusses on identifying a defect.

So, QA/QC becomes very crucial in the field of construction and NBCC being India's one of the biggest organization in the construction field devoted itself towards QA/QC in the areas of its operations.

NBCC through its Technical/Quality audit division conducts the Technical/Quality audit of some selected projects on PAN India basis through a well designed and robust checklist so as to ensure the QA/QC is being followed at project sites.

Apart from carrying out the routine Audits, Special Audits of the certain projects are also carried out by the technical audit team as and when directed by the competent authority.

Internati'onal Organizati'on for Standardizati'on (ISO)

NBCC through its ISO-cell conducts the ISO Audit of all Project sites earmarked in ISO and all RBGs/SBGs/Zones/Units/HOD-HO at a interval of 6 (six) months and 1 (one) year respectively through a well developed checklist to ensure that the Quality Policy and Quality Objective established by the company in its QMS is being followed stringently.

A) Quality Policy:

1. To keep on uplifting and maintaining the quality standards in providing Project Management Consultancy and Execution of Projects in order to sustain a high level of customer satisfaction by comprehensively meeting the stated need of the customers and proactively attending to their expectation.

2. To deliver projects in time and within cost with excellent quality and to become a trustworthy project management organization for esteemed customers.

3. To make quality an obsession and to carry commitments to comply with the applicable requirements and to continually improve the effectiveness of our Quality Management System.

B) Quality Objectives:

1. To achieve time norms for completion of project as per schedule at least in 90% projects.

2. To ensure that customer complaints are redressed within 60 days.

3. To conduct structured review by all RBG/ SBG/ Zones at least once in a month to monitor the performance of external provider & progress of the project to achieve the time schedule, quality parameters & safety aspects of the projects.

4. Green Building Initiatives with 90% of green features in the Projects.

5. To organise training program related to the services offered by the organization & QMS in 100% cases of request received.


NBCC (I) Ltd. committed towards Safety and Health to all the employees who work in its areas of operation. The company is continuously striving to become a role model in implementing safe practices/measures to ensure the goal of achieving Zero harm at its work places.

The Safety Management Division, HO tries to ensure this goal of achieving zero harm at work places by:

a) Bringing awareness about the Safety Policy of the Company to all RBGs/SBGs/Zones/Units/HODs-HO by issuing the circular and encourage them to implement the same.

b) Monitoring of safety aspects of the projects on Pan India basis. Obtaining Monthly Safety Feedback report from all RBGs/ SBGs/Zones/Units.

c) Monitoring of relevant clauses of GCC (Contractors) which stipulate that the safety consultant/agency is to be deployed for the projects valuing Rs. 50 crore, and above by all RBGs/SBGs/Zones/Units.

d) Proactive approach in assessment & mitigation of risks related to Safety and Health at work sites by conducting the safety audits at regular intervals of the project sites and by scrutinizing the daily/monthly safety feedback reports of work sites.

e) Strengthening of the safety standards in the organization by celebrating the National Safety day/week campaign (recently 50th National Safety Day/Week campaign has been celebrated)

IT Division

With the aim of Digital NBCC, management envisaged the concept of "Paper Less Office" towards creating employee's friendly environment. Company took initiatives and implemented various IT activities in organization to make more efficient, seamless, transparent work environment, and to take a leap towards DIGITAL NBCC. All departments are integrated with ERP / DMS / e-Office for internal process.

IT division is providing following IT services to the corporation on pan India basis:

• ERP- Employee Resource Planning (Web/Window)

• E-office

• Data Center - Virtualization

• Disaster Recovery (DR) Site

• DMS- Document Management System

• Vendor Portal

• Email

• Video Conference

• Cloud Services

Employee Resource Planning (ERP) - NBCC has implemented in-house ERP application which is software, placing its focus on integrating an organization, department and functions (HRM, Finance, Projects, etc.) into a single and integrated computer system that aims to serve all those department needs. ERP software suites are built to collect and organize data from various levels of an organization and connect business activities across departments. ERP reduces the communication time, effective communication and transparency within and outside the organization.

E-Office - NIC e-Office has been implemented to make the official communication time bound, easy tracking and faster, which has been procured from National Informatics Centre (NIC). E-Office, an integral part of NIC e-Office suite is a system designed for the government departments, PSU's to enable paperless office by scanning registering and routing the inward correspondences along with creation of file, noting, referencing, corresponding attachment, draft for approvals and finally movement of files as well as receipts. Adopting e-Office is resulting in number of benefits like bringing the transparency in the system, improved efficiency in working, easy searching and retrieving of files/ data, alerts on urgent files.

Disaster Recovery (DR) Site - Disaster Recovery (DR) site is a setup for recovery or continuation of IT infrastructure/services, which are vital to an organization after a natural or human-induced disaster. NBCC has setup its Disaster Recovery (DR) site at BSNL datacentre, Ahmedabad.

Information Technology (IT) Security Policy - The Information Technology (IT) Security Policy is a consolidated compilation of standards and guidelines to secure usage of various information systems and services and also to protect the information assets of NBCC from all security threats. Information Technology (IT) Policy of NBCC has been formulated.

Email - Electronic Correspondence (Email) - All the communications internally as well as with the external is done via Emails, which is being provided from National Informatics Centre (NIC). All the employees have been provided with official mail id for faster and paperless communication, with new domain i.e.

Video Conferencing (VC) - It is a set of telecommunication technologies which allow two or more location to communicate by simultaneous two-way video and audio transmission. The use of technology has helped the organization in cost and time saving of employees. All the interaction, feedback and interviews of employees outside Delhi/NCR for promotions in the DPCs or FTPs are being conducted through VC.

Dividend Distribution Policy

As per Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the top 500 listed companies shall formulate a dividend distribution policy.

Accordingly, the policy was adopted to set out the parameters and circumstances that will be taken into account by the Board while determining the distribution of dividend to its shareholders and/or retaining profits earned by the Company, The policy is attached as Annexure-IV and is also available on the Company's website, at

Corporate Social Responsibility Committee (CSR) & Sustainability Development

The Company has Corporate Social Responsibility (CSR) Committee in compliance with the provisions of Section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014.

Further, the Company has in place a CSR policy in line with Schedule VII of the Companies Act, 2013, which can be accessed on the Company's website, at the link

The Company also has a Sustainability Policy to ensure healthy well-being of its stakeholders and protecting the environment. The policy guidelines are integral to the way the Company conducts its construction as well as other business operations.

NBCC is committed to ensure that it meets its business goals without compromising on the aspirations of the present and future generations.

The Annual Report on CSR activities forms part to this Annual Report and is enclosed as Annexure-V.

Compliance of DPE Guidelines and Policies

The guidelines and policies issued by Department of Public Enterprises from time to time are duly complied with by the Company.

MSME Implementati'on

It always has been endeavour of NBCC to support Micro and Small Enterprises (MSEs) and local suppliers. NBCC has taken a number of steps including the necessary steps to implement the Public Procurement Policy of the Government of India to procure the items specified from MSEs, including SC/STs. Necessary provision is made in all the tenders stating the eligibility of MSMEs to participate in the tender. As mandated in the Public Procurement Policy-2012 for MSMEs (issue by Ministry of MSME- Govt. of India), total amount spent on procurement through MSME was Rs. 2,40,23,752/- and most of the vendors' payments have been released. The procurement is in line with Public Procurement Policy for MSME's notified by MSME, Govt of India.

Risk Management

NBCC has a well laid-down risk assessment and management process. A Board level Committee called Risk Management Committee (RMC) has been constituted in compliance with the requirement of the companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to define a framework for identification, evaluation and mitigation of risk in the decision making process of the business of NBCC and to protect the Company from risks and consequence in the pursuit of Company's stated strategic goals and objective.

The Board had formulated a Risk Management Policy for dealing with different kinds of risks which it faces in day to day operations of the Company. Risk Management Policy of the Company outlines different kinds of risks and risk mitigating measures to be adopted by the Board.

Company periodically analyzes the risks associated with its operations and takes all the necessary precautionary measures to manage and mitigate the risks.

Internal Financial Control

The Company has in place adequate internal financial controls with reference to financial reporting in compliance with the provisions of Section 134(5)(e) of the Companies Act, 2013 and such internal financial controls over financial controls were operating effectively. During the financial year 2020-21, your company has redrafted the complete framework of internal financial controls over financial reporting and ensured that such controls are in place through independent agency.

The controls have been designed to provide assurance with respect of maintenance of proper accounting records, ensuring the orderly and efficient conduct of its business including adherence to the Company's policies, safeguarding of its assets, prevention and detection of frauds and errors and ensuring reliability of financial and operational information. The Internal Control Systems (including Internal Financial Controls over Financial Reporting) are reviewed on an ongoing basis. Necessary changes are carried out by the management to align with the changing business requirements.

In addition to the above, the Company has a well-defined delegation of financial powers to its various officers through its SubDelegation of Power. These delegations are reviewed on timely basis in line with the needs of the Company.

The Company has in-house Internal Audit and Technical Audit Departments commensurate with its size of operations. The internal audit program, scope of audit and audit plan is approved from the Audit Committee. Internal audit is conducted through external audit firms and reports are deliberated with the management as well as the Audit Committee.

The Statutory Auditors and Audit Committee of the Board regularly reviews significant audit findings covering operational, financial and other areas and provides guidance on internal controls.


The Vigilance function at the NBCC, is an integral part of the Management. It is the nodal section for handling all Vigilance matters of the NBCC. It is believed that with best practices, adequate controls and transparency in place, decisions will be taken in a professional, efficient and effective manner and same would be consistent, leading to good governance and corporate excellence. The Vigilance Division of Corporation is under the charge of Chief Vigilance Officer (of the rank of Joint Secretary), who is from outside the cadre of NBCC.

NBCC, has observed 'Vigilance Awareness Week' with full enthusiasm from October 27, 2020 to November 2, 2020 on the theme "Integrity- A way of life". Among highlights of the week-long event organized by the Company, included release of Vigilance Bulletin titled 'PARDARSHITA' and thought-provoking Posters brought out by Vigilance Department of NBCC to spread awareness and provide valuable insights on vigilant practices.

Information of Vigilance cases, required pursuant to Office memorandum issued by Ministry of Parliamentary Affairs vide its letter dated F. No. 28(1)2016-Leg.I, Dated January 24, 2018:

S. No. Status of Cases No. of cases Nature of Cases
1 Number of Cases at the beginning of Financial year 2020-21 52 The nature of cases/ complaints are normally tender related, procedural lapses and financial irregularities related matters
2 Number of Cases received during the Financial year 2020-21 36
3 Number of Cases disposed off during the Financial year 2020-21 64
4 Number of Cases Pending at the end of the Financial year 2020-21 24

After investigation of complaints, where lapses/ irregularities are established, the disciplinary proceedings are initiated against the delinquent employees.


Vigilance Division has been initiated by NBCC by introducing effective Vigilance MIS:

• Complaint database is being maintained to effectively monitor their status resulting in reduction in their pendency.

• Database is maintained of all cases pertaining to minor and major penalty proceedings. Status of all cases is regularly updated so as to keep track of the deadlines and actions required to be undertaken.

• Database of all CTE para reports, CBI Cases and Departmental Inquiries is made so as to keep track of all of them.

• Digitization of documents has been started as per CVC directives.

Vigil Mechanism/Whistle Blower Policy

The 'NBCC Whistle Blower Policy' has been formulated namely

(i) to ensure greater transparency in all aspects of the Company's functioning by formulating a procedure for further enabling employees to bring to the attention of Company incidents of improper activities or violation of the Company's Service (Conduct) Rules and the Code of Business Conduct & Ethics for Board Members and Senior Management, and

(ii) to provide necessary safe-guards for protection of employees from reprisals of victimization for whistle blowing in good faith.

A vigil mechanism for directors and employees to report genuine concern about unethical behavior, actual or suspected fraud or violation of the Company's Code of Conduct has been established which includes the duly adopted Whistle Blower Policy, uploaded on the Company's website at the link

Further, NBCC (India) Ltd. has become a member of Transparency International India, an institution engaged in propagating the concept of the 'Integrity Pact' intended to eradicate corruption in public procurement. NBCC is a firm believer that transparency makes good citizens which never go out of business.

Investors Relation Cell

"NBCC" is committed to providing timely, accurate and comprehensive information relevant to all aspects of our operations and in compliance with SEBI regulations.

The purpose of the Investor Relations Policy is to ensure transparent and fair information dissemination. The Company recognizes that effective communication with investors assists in development and maintenance of an informed market in the Company's securities and enhances corporate governance by encouraging a culture of transparency in relation to the Company's corporate activities and proposals.

As per the guidelines issued by Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India, on Investor Relations for Listed Central Public Sector Enterprises, the Company has been participating in various Investors Conferences in India and overseas, in order to communicate with stakeholders, to enhance and strengthen its corporate governance & investor relations and to develop a strong bond with stakeholders.

The Company maintains a corporate website ( The Company's business developments, financial reports, announcements, analyst meet and Investor conferences schedules, news releases and other information are posted on the corporate website. Both current information and archives of previously released information including presentation slides and announcements are available under the "Investors" section of the website.

The Company keeps investors and the market fully equipped with the information that may have a material effect on the price or value of the Company's securities by timely disclosure of information through Stock Exchanges.

Corporate Communication

During the last challenging year, this Division has successfully disseminated and exchanged news/information with all the publics' (external and internal) through well-articulated approach and unique ideations. Major focus was reinforcing the positive corporate image building and sustaining the identity of the Company. The Division accomplished number of activities during the period and major ones include:

• Successful interviews conducted with renowned national-digital and electronic media houses.

• Overall support required for in-house events and activities such as Foundation Day, Annual General Meetings, Vigilance Week and other such events.

• Website content development and regular updation of information under the allied heads.

• In-house content management for scheduled Calendar Events such as Earth Day, Environment day, Public Sector day, Women's Day, National festivals, etc.

• Content Generation and designing for internal dissemination of CMD's messages & announcements for NBCC employees across different branches.

• Extensive news coverage in print, electronic, broadcast and Social Media platforms through well-developed content and creative mediums such as press releases, in-house designed creatives etc.

• For enhanced engagement of various stakeholders, the social media platforms such as Facebook, Twitter and YouTube were evidently utilized for dissemination of important information and achievements of the Company.

• Regular designing and publishing of various advertisements/NITs through empanelled Advertising agencies.

• Content generation, designing, editing and co-ordination of Printing of Annual Reports of NBCC and its Subsidiaries.

Auditors and Auditor's Report

Statutory Auditors

M/s Dhawan & Co., Chartered Accountants, was appointed as Statutory Auditors for the financial year 2020-21 by the Comptroller & Auditor General of India (C&AG).

The notes on financial statements referred in the Auditor's Report are self-explanatory and do not call for any further comments. The Auditors' Report is attached with financial statements and forms part of this Annual Report.

Statutory Auditor placed a qualified Audit Report on Consolidated Financial Statement before the Board of Directors which forms part of this Annual Report. The management comments on each qualification made by statutory auditors forms part of this Annual Report.

Cost Auditors

M/s Chandra Wadhwa & Co., Cost Accountants (FRN-000239), are the Cost Auditors of the Company for the FY 2020-21 & 2021-22.

Secretarial Auditors

The Board has appointed M/s P. C. Jain, Practicing Company Secretary, to conduct Secretarial Audit for the FY 2020-21. The Secretarial Audit Report for the financial year ended March 31, 2021 along with management reply is at Annexure-VI.

Comments of C&AG of India

Comptroller & Auditor General of India (C&AG) have given "NIL"comments on the financial statements (standalone and consolidated) of the Company for the FY 2020-21, forming part of this Report.

Audit Committee

The Company has constituted Audit Committee with the members i.e. Dr. Jyoti Kiran Shukla, Chairperson and Sh. Shyam Sunder Dubey, Sh. Rajendra Chaudhari & Sh. Neelesh Shah as members. The recommendations made by the Audit Committee are accepted by the Board.

Number of Meeting of Board of Directors

Pursuant to the Companies Act, 2013 and the Rules framed there under, 7 (Seven) Board meetings were held in the FY 2020-21. The details of the meeting are at Corporate Governance Report forming part of this Annual Report.

Board of Directors and Key Managerial Personnel


During the FY 2020-21, there were no appointment/cessation of the board of directors in the company. However followings cessations have been made during FY 2020-21:

S. No. Name Cessation
1 Shri Neelesh Shah 31.05.2021
Director (Projects)
2 Shri Rajendra Chaudhari 09.06.2021
Director (Commercial)

The strength of the Board of Directors of NBCC as on March 31, 2021 was Seven (7), comprising of four (4) Executive Directors (including CMD), two (2) Government Nominee Directors and one (1) Independent Director.

Dr Jyoti Kiran Shukla, Independent Director was appointed on the Board of NBCC on August 1, 2019.

Details of Key Managerial Personnel

The following are the Key Managerial Personnel of the Company for the FY 2020-21 are:

• Shri Pawan Kumar Gupta, Chairman & Managing Director

• Shri Rajendra Chaudhari, Director (Commercial) (upto June 09, 2021)

• Shri Neelesh Manherlal Shah, Director (Projects) (upto May 31, 2021)

• Smt. B K Sokhey, Director (Finance) & CFO

• Smt. Deepti Gambhir, Company Secretary

The Ministry of Corporate Affairs vide notification dated June 05, 2015 notified the exemptions to Government Companies from the provisions of the Companies Act, 2013, which inter-alia provides that Sec. 134(3)(p) regarding statement on formal annual evaluation shall not apply to Government Companies in case the Directors are evaluated by the Ministry which is administratively in-charge of the Company as per its own evaluation methodology. Further, in line with aforementioned exemptions, SubSections (2), (3) & (4) of Sec. 178 regarding appointment, performance evaluation and remuneration shall not apply to Directors of Government Companies.

Declaration by Independent Director

The Independent Directors of the Company had made declaration of Independence as required under section 149(6) of the Companies Act, 2013 and the rules made there under.

Training of Directors

NBCC undertakes on-boarding training for its directors to initiate them to the organization and its various operations including strategy, operations, organization structure, human resource, technology, risk management etc.

They are also updated on all the latest developments in Corporate Governance to gain deeper insights into their roles and responsibilities. Further, the Company also invests in the learning of Board-level executives through seminars and conferences held in association with reputed institutions.

The Company has made the arrangement for internal training of Independent Directors. The Company's policy on Directors' training can be accessed on the corporate website at the link

Annual Return

The copy of the Annual Return as provided under section 92 of the Companies Act, 2013 for FY 2020-21, would be placed at the website of the Company at

Business Responsibility Report

The Business Responsibility Report (BRR) describes the initiatives taken by the Company from social, environmental and governance perspectives. As a socially-responsible organization, NBCC conducts all its business activities in complete respect of the environment and society, and in line with its Corporate Governance guidelines. Detailed information on the Corporate Social Responsibility (CSR) activities is provided in the Business Responsibility Report at Annexure-VII.

Research & Development

The Research and Development (R&D) Policy of NBCC is:-

• To provide a framework for the development of a research culture within NBCC, to improve research performance and to achieve high quality technology outputs.

• To promote R&D activities as complimentary to construction activities so as to improve the quality of work and sustainability.

• To contribute towards creation of wealth and well-being of the Company and further the construction sector as a whole.

• To be supportive of the organization's aspiration to be a world class Construction Company.

NBCC has been at the forefront of encouraging and adopting sustainable construction. Some of the research projects sponsored in line with sustainable construction are given below:-

• Sustainable Construction & Reduction of Water Consumption in Construction - IIT Delhi.

• Recycled Aggregate Concrete, an investigation of properties and Structural applications- IIT Roorkee.

• Lesson from Green Residential Development- case of East Kidwai Nagar and New Moti Bagh by IIT Roorkee.

• Characterization of Manufactured Sand and its effective utilization in Construction by CSIR-CBRI Roorkee.

• Developing an integrated framework of Green Construction practices and implementation roadmap for NBCC- IIT Roorkee.

R&D in NBCC is focused on innovations in its three business areas - Project Management Consultancy, Real Estate and Engineering Procurement and Construction.

A) Conservation of Energy:

i. Steps undertaken or impact on direction of Conservation of Energy and absorption of technology, threats, Risk and Concern:

• NBCC has signed a Memorandum of Understanding (MoU) on December 18, 2017 with the Energy and Resources Institute (TERI) for the period of 5 years. Under the MoU, TERI will be providing advice and consultancy to NBCC on identifying solutions for sustainable development and implementation of GRIHA for new projects. TERI will also be assisting NBCC in formulating sustainable development policy and long term sustainable development plan. Further, it will be giving consultancy for conducting environment assessment and energy management in the existing projects among others.

ii. Steps taken by the Company for utilizing alternative sources of energy:

• Installation of Roof Top solar power panels, solar heater, solar street lighting etc.

iii. Capital investment on energy conservation equipments:

• As most of the projects executed by NBCC are in line with the GRIHA norms, the equipments used are all energy efficient.

• Installation of LED based lighting in all NBCC Buildings.


i) The efforts made towards technology absorption:

• Presentations of new products and innovative technologies of best in class companies are being organized.

ii) The benefits derived like product improvement, cost reduction, product development or import substitution:

• Awareness about the new technologies and products is being imparted to the senior management for utilizing the same in the projects.

iii) There were no expenditure incurred on R&D during the FY 2020-21.

C) Foreign Exchange Earnings and Out-go

The details of foreign exchange earnings or out-go during the period under review are as under:

Foreign Exchange Earning: Rs. 13,42,67,799/- Foreign Exchange Outgo: Rs. 1,20,63,503/-

Progressive Use of Hindi

The provisions of the Official Language Policy of the Government of India have been implemented in the company. Employees are encouraged to do their official work in Hindi. In the company, schemes like Hindi Noting-Drafting Incentive Scheme, Hindi Dictation Incentive Schemes etc. of the Department of Official Language, Ministry of Home Affairs have been implemented in which employees participate. Apart from this, In order to encourage the employees to do official work in Hindi more and more, an internal competition named Quarterly Hindi Vyavhar Pratoyogita has also been implemented for 'A', 'B' and "C' Region. During the year, several efforts have been made in the company towards increasing the progressive use of Hindi. During the year 2020-21, quarterly meetings of Official Language Implementation Committee (OLIC) were organized regularly to review the progressive use of Official Language Hindi in the Company.

During the year, Hindi workshops were organized to promote official use of Hindi typing, Unicode, Hindi noting and drafting etc. in which participants from Corporate Office, RBG, SBG and Zonal Offices participated.

Hindi Pakhwada was organized from September 01, 2020 to September 14, 2020, with the objective of increasing the use of Hindi in official work in the corporate office and to promote the possibilities of working in Hindi. During this period, online Hindi quiz competition was organized through ERP from September 02, 2020 to September 10, 2020 in which the employees actively participated. Top 50 winners of online Hindi quiz competition were awarded with certificates and books of eminent authors.

According to the directions of the Department of Official Language, Ministry of Home Affairs, a Saransh digital board was installed at prominent place in Corporate Office for the display of the epigram of great men, today's Hindi word etc.

During Hindi Pakhwada Shri Vikram Singh, Hindi Pradhyapak, Central Hindi Training Institute, delivered a lecture on 'Unicode and Useful IT Tools on Computers' under the aegis of TOLIC Delhi (Undertaking-2) through video conferencing on September 15, 2020 in which the employees working in the offices of NBCC all over the country, including the participants of the member offices of TOLIC Delhi (Undertaking-2) participated online. On the occasion of Hindi Day, an appeal was also issued by the Chairman & Managing Director to encourage employees to work in Hindi.

The Ninth issue of NBCC's internal Hindi magazine Hkivrl"was also published during the year.

Hindi inspections done by the Official Language Division in Corporate Office and Regional Business Groups (RBGs) / Strategic Business Groups (SBGs) / Zonal Offices, to monitor the use of Official Language Hindi in day to day work.

Right To Information

Right to Information (RTI) Act, 2005 has empowered the Indian citizen to access information from public authorities, resulting in transparency and accountability to the working of the authorities. Your Company has appropriate mechanism to provide information to citizens under the provisions of Right to Information (RTI) Act, 2005.

The status of RTI received during the year is as follows: (In Nos.)

RTI applications
RTI Application received Rejected Information provided Transferred to other public Authority Returned to Applicant Pending Applications
413 3 356 9 0 45

Significant And Material Orders

The impact of Covid-19 pandemic has effected the financial position of the Company during FY 2020-21.


Directors hereby state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

1. There was no issue of shares under ESOS to the employees.

2. Neither the Chairman & Managing Director nor the Whole Time Director received any remuneration or commission from the subsidiary Company.

3. Provisions of Section 197 of the Companies Act, 2013 regarding disclosure of the ratio of the remuneration of each director to the median employee's remuneration and details of employees receiving remuneration exceeding limits as prescribed from time to time in the Directors' Report is not applicable to NBCC being a Government Company pursuant to MCA Notification dated June 05, 2015.

4. The Company is compliant of the Secretarial Standards issued by the ICSI from time to time.

5. Information on number of meetings of the Board held during the year, composition of committees of the Board and their meetings held during the year, establishment of vigil mechanism/ whistle blower policy and web-links for familiarization/ training policy of directors, Policy on Materiality of Related Party Transactions and also on Dealing with Related Party Transactions and Policy for determining 'Material' Subsidiaries have been provided in the Report on Corporate Governance, which forms part of the Directors Report at Annexure-II.

6. All directions issued by the Government of India during FY 2020-21 have been duly complied with by the Company.


Your Board of Directors sincerely acknowledge the co-operation, guidance and support received from the Ministry of Housing and Urban Affairs, DPE, MCA, and other agencies of the Central and State Governments.

The Board is grateful to the contribution of contractors, vendors, consultants, and business partners in the implementation of various projects of the Company.

Your Directors thank all the shareholders and the members of NBCC Family for their trust and confidence reposed in the Board.

Further, the appreciation is placed on record for the untiring efforts and dedication made by the NBCCians at all levels, during the challenging and un-precedented COVID-19 pandemic situation, to ensure that the Company continues to grow, excel and sustain.

On Behalf of the Board of Directors
Pawan Kumar Gupta
Place: New Delhi Chairman & Managing Director
Date: September 7, 2021 (DIN: 07698337)