On September 19, 2025, Housing and Urban Development Corporation Limited (HUDCO) and NBCC (India) Limited formalized a significant collaboration by signing a Memorandum of Understanding (MoU) in New Delhi. This non-binding MoU outlines their joint commitment to execute multiple high-profile construction projects on a turnkey basis as Deposit works, strengthening public sector infrastructure development. The agreement was inked by Shri Sanjay Kulshrestha, CMD of HUDCO, and Shri K. P. Mahadevaswamy, CMD of NBCC, in the presence of senior officials from both organizations.
Key Highlights of the HUDCO-NBCC MoU
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Development of a commercial plot in Kaushambi, Ghaziabad (Uttar Pradesh)
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Construction on an institutional plot at Panchkula (Haryana)
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Additional blocks at HUDCO Regional Office in Ahmedabad (Gujarat)
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Reconstruction of residential flats at the Asian Games Village Complex, New Delhi
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Projects to be executed on a turnkey basis as Deposit work, showcasing complete end-to-end delivery by NBCC
Strategic Importance and Project Scope
This partnership harnesses HUDCO’s expertise in housing and urban infrastructure financing and NBCC’s robust project management and construction capabilities. The collaboration extends across four diverse geographies, each with unique urban development needs.
The commercial plot development at Kaushambi leverages Ghaziabad’s expanding urban landscape, aiming to bolster business infrastructure. Similarly, the institutional plot work in Panchkula will enhance local governance or institutional facilities, fostering regional development in Haryana. The expansion of HUDCO’s regional office in Ahmedabad reflects the corporation’s intent to augment its operational reach and infrastructure. Additionally, the reconstruction of residential flats in the Asian Games Village Complex in New Delhi is a noteworthy urban housing upgrade, aimed at modernizing living spaces in a prime location that holds significance from the 2010 Asian Games legacy.
Collaborative Leadership and Future Prospects
The MoU ceremony brought together top leadership from HUDCO and NBCC, reaffirming a shared vision of advancing India’s urban infrastructure through synergy between public sector undertakings. Shri Sanjay Kulshrestha and Shri K. P. Mahadevaswamy emphasized the importance of efficient project execution and timely delivery in creating sustainable urban environments.
This agreement is expected to serve as a foundation for future collaborations, driving innovative housing and infrastructure projects while contributing substantially to India’s growing urban economy.
Source: Company disclosure to the Stock Exchanges
