Sustaining a winning culture...
Getting success in today’s competitive market is tough but sustaining that success and taking it to new pinnacles is even tougher. And the State-run infrastructure giant, National Buildings Construction Corporation, has done exactly that toughest part. Our Cover Story tells the tale of the NBCC which other stagnating PSUs would love to emulate. From a share price of around Rs 41 two years ago, the company has come a long way with its stock price trending at approximately Rs 1,009 in the current market. The feat was made possible due to the visionary leadership of NBCC Chairman and Managing Director A K Mittal.
The foundation of the NBCC’s success was laid way back in 2001 when Arup Roy Choudhury, the current CMD of the NTPC, joined the company with a negative net worth and a salary backlog. Under Roy’s stewardship, the NBCC was successfully turned into a bluechip enterprise having Schedule 'A' and Miniratna status.
Mittal assumed the reins of the company at a time when it was already emerging as one of the leading players in the construction sector. However, the dynamic leader did not want to stop at being only “one of the best”. His hunger for excellence led the organization to innovate business strategies, take risk and embark upon a journey of exploring opportunities in new territories – the moves that could well steer the fortunes of the company and take it to an even more brighter space. He was instrumental in getting the NBCC the Navratna status in just a span of one year after becoming its CMD.
The NBCC’s plunge into a relatively new segment of redevelopment and its success in the implementation of the Central Government's New Moti Bagh re-development project has earned it a huge dividend in the form of the Government awarding it another Rs 5,000-crore East Kidwai Nagar redevelopment project in the National Capital on similar lines. Also, several State Governments are making a beeline to partner with the construction giant for redeveloping their properties.
The NBCC has clearly been setting examples worth emulating by other public and private sector companies. The NBCC is not only constructing buildings for the nation, but it is also building the path for other public sector undertakings to follow.
Also in this issue, we have an exclusive interview with political heavyweight Azam Khan. The Samajwadi Party leader who is indisputably one of the most prominent prodigies of the labyrinthine Uttar Pradesh politics recalls his political journey while reinforcing his concept of social amelioration without any bias.