NBCC (India) gains after securing new orders

NBCC (India) rose 2.75% to Rs 65.45 at 9:23 IST on BSE after the company said it has secured new works for various infrastructure projects.

The announcement was made after market hours yesterday, 27 March 2019.

Meanwhile, the S&P BSE Sensex was up 121.50 points, or 0.32% to 38,254.38.

On the BSE, 2.89 lakh shares were traded in the counter so far compared with average daily volumes of 12.71 lakh shares in the past two weeks. The stock had hit a high of Rs 65.70 and a low of Rs 65 so far during the day. The stock hit a 52-week high of Rs 109.25 on 25 April 2018. The stock hit a 52-week low of Rs 46.55 on 11 December 2018.

NBCC has secured order from Indian Institute of Management (IIM) Visakhapatnam to provide Project Management Consultancy services for development of permanent campus (phase-1) amounting Rs 463 crore (approximately). It secured order to provide project management consultancy services for development of medical college and hospital at Chamba (Himachal Pradesh) amounting Rs 200 crore (approximately).

The company also secured various ghat rehabilitation & development works at Bihar. The estimated project cost is Rs 100 crore (approximately). NBCC also secured Rs 130 crore of additional work of IIT Bhubaneswar Campus. Further, NBCC secured and started redevelopment of Puducherry railway station. The estimated project cost is Rs 110 crore (approximately).

The total estimated costs of these projects are Rs 1003 crore (approximately), the company said in a statement.

On a consolidated basis, net profit of NBCC (India) rose 22.38% to Rs 83.65 crore on 28.26% rise in net sales to Rs 2403.73 crore in Q3 December 2018 over Q3 December 2017.

NBCC (India) holds the status of Navratna CPSE. Its areas of operation encompass project management consultancy, engineering procurement & construction (EPC) and real estate development.

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