State-owned NBCC India has secured a ₹168.39 crore contract to develop the Maharana Pratap Tourist Circuit at Haldighati. Following the announcement, the company's shares rallied 9.29% to ₹76.10 on Monday. The project includes building a massive statue and museum, with NBCC earning a project management consultancy fee of 4.25%.
NBCC (India) Limited has announced a new contract win to develop the Maharana Pratap Tourist Circuit in Haldighati, Rajasthan. The project is valued at ₹168.39 crore and will be executed in collaboration with the Rajasthan Department of Tourism and the Rajasthan Heritage Authority. Investors reacted positively to the news on Monday, November 2, 2026, sending the company's stock up by 9.29% to close at ₹76.10.
Project Scope and Business Model
The project aims to transform the historic site of Haldighati into a major tourism hub. Key components include the construction of a record-breaking, world-tallest statue of Maharana Pratap, a specialized museum, and immersive technological projection shows that detail the historic Battle of Haldighati. For NBCC, this contract operates under its project management consultancy model. The company will manage the entire lifecycle of the development, from design to final execution, and will receive a consultancy fee of 4.25% of the total project cost. This business model is typically preferred by construction firms as it lowers the capital risk compared to direct engineering, procurement, and construction contracts.
Financial Context and Execution Risks
This order adds to the company's existing portfolio of infrastructure projects. In its most recent quarterly performance for Q1 FY27, NBCC reported consolidated revenue of ₹2,259.53 crore and a net profit of ₹154.83 crore. While the new contract contributes to the order book, investors should consider the nature of heritage and monument construction. These projects often involve unique architectural challenges, and any delays in regulatory approvals or site development could push back completion timelines.
As with many large-scale government infrastructure initiatives, revenue recognition often depends on the speed of project execution and the release of funds by the client. Investors may want to track the project's commissioning timeline and any future order inflows to gauge the impact on the company's margins and overall growth. The company’s ability to manage costs effectively while delivering these high-visibility projects will remain an important factor for shareholders.