NBCC to capitalise on new market opportunities: CMD Anoop Kumar Mittal

As India inches towards being the third largest economy in the world by 2030, NBCC is well placed for a quantum jump in line, he added

State-owned construction firm NBCC (India) is poised to capitalise on new market opportunities by strengthening its core competencies, a top company official said Saturday.

As India inches towards being the third largest economy in the world by 2030, NBCC is well placed for a quantum jump in line with India's emergence as a global economic powerhouse, its Chairman-cum-MD Anoop Kumar Mittal said while addressing the company's 58th annual general meeting here.

"NBCC (India) Ltd the state-owned Navratna enterprise company is poised well to capitalise on new market opportunities by strengthening its core competencies," Mittal said.

The company has performed with a CAGR of 21 per cent over the past 10 years which has helped it emerge as a valuable stakeholder in the infrastructure and construction sector, he added.

"NBCC has a strong order book pipeline that will help in achieving a growth rate of more than 30 per cent. Going forward, NBCC is also working towards enhancing its brand value while aggressively pursuing high-value projects in domestic and overseas markets," Mittal said.

At present, the company's order book stands at around Rs 80,000 crore.

NBCC has achieved 14 per cent higher consolidated net profit during financial year 2017-18 driven by sturdy operational performance and sound fundamentals. The total income for 2017-18 stood at Rs 7,095.91 crore as compared to Rs 7,575.35 crore in the previous fiscal.