NCC recommences work on most of its projects
The company is facing some disruptions in the supply chain
NCC has recommenced work on most of its projects following the relaxation of lockdown norms.
However, the company is facing some disruptions in the supply chain and shortage of workforce at construction sites.
The work on projects is moving on an average over 50 percent, at few projects it is 100 percent and in some projects it is around 70-80 percent. There are some projects where the work is around 20 percent and there are four projects where work has not started.
On an average 50-70 percent work is now underway on the projects.
The company’s biggest project, the Nagpur-Mumbai road project worth Rs 2,850 crore, has made satisfactory progress and is halfway through. The execution of this project will go on briskly during 2020-2021.
Similarly, the progress on around Rs 1,000 crore AIIMS in Bathinda, Himachal Pradesh and Guwahati is moving ahead while work on Seabird project has recently started. At AIIMS over 1,400 people are working.
Also, mining projects were functioning at 100 percent capacity even during April and May 2020. Similarly, work is also picking up on Lucknow airport project. However, the company is still facing some supply chain constraints and in some cases and shortage of workforce.
The company’s Andhra Pradesh projects order book is Rs 4,479 crore, working to almost 16-17 percent.
While the state government is planning to shift the capital city from Amaravati to Visakhapatnam, NCC is in dialogue with the Andhra Pradesh government to release bank guarantee.
The company has facilities for Rs 12,000 crore limit from a consortium of banks headed by the State Bank of India (SBI).