New Delhi: State-owned NBCC Ltd has signed a Memorandum of Understanding (MoU) with the Bihar government to develop four major residential and commercial redevelopment projects in Patna. The projects involve an estimated investment of ₹2,000 crore, excluding GST.
The agreement covers housing developments, an IT Tech Park and commercial properties. The projects will be executed under Phase-I on a self-financing basis without financial assistance from the Bihar government.
Major Agreement
According to NBCC’s regulatory filing on November 2, 2026, the agreement was signed with various departments of the Bihar government.
The signing took place in the presence of Bihar Chief Minister Samrat Choudhary and NBCC Chairman and Managing Director KP Mahadevaswamy.
The partnership aims to redevelop government properties while creating residential and commercial infrastructure in Patna.
Housing Development
Two residential redevelopment projects will be undertaken in Patna, involving the construction of 3,331 flats.
These housing units will cater to Economically Weaker Sections (EWS), Lower Income Groups (LIG), Middle Income Groups (MIG) and Higher Income Groups (HIG).
The developments will expand housing infrastructure across different income categories in Bihar’s capital.
Commercial Projects
Apart from residential developments, NBCC will construct an IT Tech Park for the Department of Information Technology, Bihar, at Gardanibagh in Patna.
Another project involves developing hotels and commercial spaces at the Water Resources Department site on Bailey Road.
These projects will add commercial infrastructure to the city.
Revenue Estimates
NBCC expects the four redevelopment projects to generate ₹5,152 crore through property sales and lease proceeds.
The estimated development cost stands at ₹2,000 crore, excluding GST.
According to the company, project management consultancy (PMC) charges have been fixed at 6 per cent, while the marketing fee will be 1.25 per cent.
Business Expansion
NBCC operates in project management consultancy and real estate development.
The Bihar agreement adds four redevelopment projects to its portfolio, with residential, technology and commercial components.
The projects will follow a self-financing model, with expected sales and lease proceeds supporting development activities.
Disclaimer: This report is based on NBCC’s regulatory filing and is for informational purposes only. Investors should assess risks independently.
