Nisus Finance acquires majority stake in NCCCL to drive India–UAE infrastructure growth Strategic buyout aligns one of India’s oldest construction companies with NIFCO’s vision, expanding real estate and infrastructure capabilities across India and the UAE
Nisus Finance Services Co Limited (NiFCO), a leading investor in urban infrastructure and capital markets, has announced the acquisition of a majority stake in New Consolidated Construction Company Limited (NCCCL), one of India’s oldest and most respected construction firms.
Executed as an all-cash, management-led buyout through its subsidiary Nisus Finance Projects LLP, the transaction marks a defining moment for NiFCO as it strengthens its strategic foothold in both India and the Gulf region. With an infusion of Dh31 million in primary growth capital, the deal reinforces NCCCL’s financial position and enables the company to capture emerging opportunities across India’s booming infrastructure sector and the rapidly expanding real estate markets of the GCC, particularly the United Arab Emirates.
Founded in 1946, NCCCL is among India’s longest-running Engineering, Procurement and Construction (EPC) companies, with a track record spanning nearly eight decades. Over the years, it has delivered more than 200 million square feet of projects across residential, commercial, IT parks, hospitals, industrial facilities, and data centres. With an active order book valued at over Dh1.15 billion, the company has consistently worked with some of the most prominent developers and corporations in India, including Prestige Group, L&T, Phoenix Mills and Bagmane Developers. By aligning NCCCL’s rich engineering legacy with NiFCO’s financial strength and institutional governance model, this acquisition sets the stage for a new phase of growth that bridges India’s infrastructure boom with the UAE’s vision for sustainable urban development.
Amit Goenka, Chairman and Managing Director of Nisus Finance Services Co Limited, said: “With this acquisition now successfully completed, we are unlocking a new growth chapter for Nisus. It represents a unique synergy between our vision for urban infrastructure and NCCCL’s decades of execution excellence. By partnering with an experienced leadership team and equipping them with strategic capital and robust governance, we are positioned to capture significant operating leverage.
“Our focus is on driving scale, efficiency, and resilience in a sector supported by strong structural tailwinds. With leadership continuity and institutional alignment, we are building a future-ready platform designed to deliver sustained value and play a meaningful role in India’s next phase of infrastructure growth. At the same time, the acquisition deepens our presence in the UAE, where the real estate market is scaling rapidly, and where we intend to apply NCCCL’s proven capabilities to strengthen our delivery of large-scale projects. This step ensures that NiFCO is not just an investor but also a trusted execution partner, both in India and across the Emirates.”
The transaction also cements NCCCL’s leadership continuity, with Mr. Mahesh Mudda, its longstanding Managing Director and Chief Executive Officer, assuming the role of promoter.
Mahesh Mudda said: “This moment marks not just a leadership transition, but a transformation. As a professional-turned-promoter, I am investing not just my four decades of sectoral experience but also my conviction into taking NCCCL to the next orbit — expanding into high-growth verticals like data centre infrastructure and smart urban developments, backed by tech-first construction methodologies and institutional governance.
“With NiFCO’s capital strength and strategic foresight, we will institutionalize execution while staying rooted in our core values of trust and engineering excellence. Importantly, with this acquisition, NCCCL will also expand its footprint in the Gulf region, where demand for world-class infrastructure is accelerating. The UAE offers a unique platform to demonstrate our capabilities, and with NiFCO’s established relationships here, we see this as the perfect opportunity to merge Indian expertise with regional ambition.”
The partnership comes at a time when both India and the UAE are experiencing unprecedented growth in urban infrastructure and real estate development. India’s rapid urbanisation, combined with government initiatives around smart cities and industrial hubs, is creating multi-billion-dirham opportunities for contractors and financiers alike. Meanwhile, the UAE continues to consolidate its position as a global investment hub, with Dubai and Abu Dhabi at the forefront of attracting capital, talent, and innovation into real estate, logistics, data centres, and new-age infrastructure. By leveraging its dual presence in these two high-growth markets, NiFCO is strategically positioned to channel capital, enhance project execution, and build bridges between Indian expertise and Gulf demand.
NiFCO has already demonstrated its commitment to the UAE market through its fully owned subsidiary, Nisus Finance Investment Consultancy FZCO (NiFCO Dubai). The company recently entered into a strategic partnership with Bricks ’n’ Woods Developments to manage the marketing and sale of a Dh93.8 million residential tower in Jumeirah Village Circle. This asset, acquired by NiFCO Dubai earlier this year, will now be brought to market with the combined strength of regulated capital discipline and local sales expertise. In addition, NiFCO Dubai is currently evaluating Dh730 million worth of new assets for acquisition and sale, with its project pipeline expected to exceed Dh3.67 billion in the coming years. This aligns closely with Dubai’s ambitious real estate vision and reflects NiFCO’s long-term commitment to the Emirates.
Abbas Jasdanwalla, Chairman of NCCCL, added: “This partnership with Nisus Finance marks an exciting new chapter for NCCCL, allowing us to continue our rich legacy while embarking on a new phase of transformative growth. We firmly believe that the combination of Mahesh Mudda’s leadership and Amit Goenka’s strategic vision creates the ideal synergy to propel NCCCL forward. With the backing of NIFCO, we are now in a position to bring our expertise not only to India’s infrastructure landscape but also to the GCC, where the opportunities are enormous.”
The acquisition also builds on NiFCO’s strong financial performance. The company, which listed on the BSE SME platform in December 2024, has continued to scale rapidly. In the first quarter of FY26, NiFCO posted its highest-ever results, with revenues of Dh126 million and net profits of Dh74 million, supported by its expanding operations across India and the UAE. These results highlight the company’s ability to generate strong margins through both financing and execution activities, while also reflecting the contribution of its UAE portfolio.
Looking ahead, NIFCO is committed to aligning institutional capital with sustainable growth opportunities. The company is targeting a unique position as both a financier and an operating partner, capable of delivering turnkey solutions from project financing to execution. This dual approach will allow NIFCO to create long-term value for investors, developers, and end-users, while contributing to the transformation of urban landscapes in India and the Gulf.
Blending NCCCL’s 75+ year legacy of trust with NIFCO’s modern, investor-backed governance model, the combined entity is well placed to address the evolving demands of regional infrastructure. The emphasis will be on disciplined growth, sector diversification, and innovation, with a particular focus on sustainable construction practices and smart technology integration. The UAE, with its ambitious infrastructure plans and thriving real estate market, will serve as a critical hub in this journey, enabling NIFCO to scale further and reinforce its reputation as a trusted regional partner.
