NBCC (India) bags order worth Rs 100 crore; stock hits 52-week high

NBCC (India) Limited, a construction giant, is experiencing a project bonanza. The company recently secured multiple contracts totalling a staggering Rs 98 crore, primarily focused on building Jawahar Navodaya Vidyalaya (JNV) schools in the Northeastern states of Assam, Meghalaya, and Tripura. These projects involve constructing Phase-A and Phase-B works for the JNVs, aiming to provide quality education to underprivileged students in the region. The individual project values range from Rs 12 crore to Rs 50 crore, highlighting the significant scope and impact of these undertakings.

Furthermore, NBCC has bagged an additional contract worth Rs 3.13 crore for renovating the swimming pool at the prestigious Civil Services Officers Institute (CSOI) in New Delhi. This project showcases their versatility and ability to handle diverse construction needs.

These contract wins solidify NBCC’s position as a leading player in the construction sector, particularly in the education and public infrastructure domains. It also demonstrates their expertise in catering to both large-scale and specialized projects. With a total order value exceeding Rs 100 crore, NBCC is poised for continued growth and success in the Indian construction market.

Financial Performance       

NBCC (India) Limited reported a strong robust quarter for FY24, with a net sales increase of 1.72% to Rs 2,047.70 crore, compared to Rs 2,013.08 crore in the same quarter last year. The operating profit also experienced a significant increase of 29.29%. The net profit for the quarter stood at Rs 81.79 crore, which was Rs 97.69 crore in the previous year’s same quarter. The company expects to achieve a secured business of around Rs 10,000 crore during the current financial year and a bottom line of Rs 1,000-1,200 crore in the next five years.

Business Overview   

NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three major segments – Project Management Consultancy, Engineering Procurement & Construction, and Real Estate.

Stock Price Movement

Today, the stock opened at Rs 88.69, with a high and low of Rs 89.99 and Rs 86.91, respectively. The stock closed trading at Rs 87.62, which decreased by 0.43%. The stock has a 52-week high of Rs 89.99 and a 52-week low of Rs 30.96. The company has an ROCE of 26.4% and an ROE of 19.0%, with a market capitalization of Rs 15,768 crore.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.