Officers association write to mgmt to hold recruitment

National Buildings Construction Corporation Limited

Citing financial burden on National Buildings Construction Corporation Limited due to unsold inventory and huge refund demand by flat owners, the NBCC (India) Officers Welfare Association has written to Chairman-cum-Managing Director PK Gupta to hold the plans for recruitment of deputy general managers and project managers in the civil wing.

Sanjay Bhasin, president of the association, said NBCC had achieved the mountaineering heights during last 10 years and got the Navratna enterprise status due to hardworking and devotions of the employees with the visionary leadership of the management.

“However in the recent past, Corporation is going down day by day in terms of turnover and profit margins due to various reasons” he said and added that a real estate project namely NBCC Green View in Sector-37 D in Gurgaon has been declared unsafe for home buyers and NBCC needs to refund all the money to home buyers with interest which is approx. 400 Crores.

In his letter to Gupta, Bhasin further said that unsold inventory is about 700 Crores is likely to put huge burden on the establishment. “This may impose a huge negative impact on balance sheet and decrease NBCC’s profit significantly.

“In addition to this, NBCC is not performing the work in redevelopment projects. NBCC is performing very poorly on the part of delivering the projects still the management is taking the wrong decisions which may affect the future of the company. Recently management advertised the vacancies of DGM (Civil) and Project managers(Civil) which is not at all required at this stage of the company” wrote Bhasin.

He said this recruitment will put the burden on the profit due to an increase in the salary. “Apart from this, this will be injustice to the old regular junior management staff of the company who are working for last 8-10 years. Instead NBCC needs to engage staff at JE/PE level for monitoring the quality and that will have a low impact on the salary of the company” he said.

“No other PSU in India has a lateral entry mechanism like NBCC, which recently recruited around 200 contract/regular staff during the recent past and there is no need to recruit DGM & PM level officers in the regular establishment at this juncture of time as we are already having 136 DGM/AGM level employees. NBCC is also having 223 DPM/PM level efficient employees who will become DGM/AGM within next 2 to 3 years” reads the letter.

Bhasin said “In view of these facts, we have requested the top management that the recruitments in regular establishment in question may kindly be reviewed”.

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.