NBCC India Shares Surge 5 Percent on Positive Q3 Results

NBCC India Shares Surge 5 Percent on Positive Q3 Results

VoM News Desk | February 14, 2024 | 03:18 PM IST | Breaking News | Follow on Google News

NBCC India Shares Surge 5 Percent on Positive Q3 Results/Pixabay

NBCC India Shares Surge 5 Percent on Positive Q3 Results

After seven consecutive days of weak performance, NBCC (India) shares hit the 5% upper circuit limit, reaching ₹130.60 apiece in today’s trade. The positive momentum follows the company’s robust performance in the December quarter, with a 59% YoY improvement in consolidated net profit to ₹113.56 crore. Consolidated revenue from operations during the reporting quarter increased by 12.80% to ₹2,471.51 crore. Key highlights include a significant rise in revenue from the PMC segment, contributing to 90% of the company’s revenue, and a 41.6% YoY jump in operating profit. NBCC’s stock has shown remarkable growth, delivering a return of 167.90% in six months and 275% in the last year, reflecting strong order wins from the government.

Financial Highlights and Segment-wise Performance

• Consolidated net profit: ₹113.56 crore (59% YoY increase)
• Consolidated revenue from operations: ₹2,471.51 crore (12.80% YoY increase)
• Revenue from PMC segment: ₹2,241 crore (↑ from ₹1,950 crore in Q3FY23)
• Revenue from real estate segment: ₹33 crore
• Revenue from EPC segment: ₹130 crore
• Operating profit: ₹119 crore (41.6% YoY increase)
• EBITDA margin: 18% (400 basis points expansion in Q3FY24)

Financial Year Performance (9 months):

• Net profit: ₹273 crore (↑ from ₹164 crore in the year-ago period)
• Total revenue: ₹6,566 crore (↑ from ₹6,118 crore in the corresponding period of the previous year)

Stock Performance:

• Return in six months: 167.90%
• Return in one year: 275%
• Gain since April 2020 low (₹15.90 apiece): 721%

Recent Contracts:

• Contract from National Institute of Fashion Technology (NIFT) for Varanasi campus construction worth ₹218 crore.
• Contract from Delhi Metro Rail Corporation Ltd. (DMRC) for staff quarter residential building construction, totaling ₹88.90 crore.

Established in 1960 as the construction arm of the Government of India, NBCC (India) achieved ‘Navratna’ status in 2014. Its core operations span three primary segments: project management consultancy (PMC), real estate development, and EPC contracting. The real estate segment includes residential and commercial projects.

VoM News Desk

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