NBCC shares surge 8% on bagging multiple construction orders; details here

Shares of State-owned NBCC soared up 8.4 per cent at Rs 141 per share on the BSE in Thursday’s intra day deals. This comes after the public sector undertaking (PSU) on Wednesday disclosed that it has received a total of 13 orders worth of Rs 491 crores. 

Among the orders that NBCC bagged includes building a multifacility healthcare complex in Antop Hill, Mumbai for the state’s Central Government Health Scheme (CGHS). The order amounted to Rs 112 crore. 

Other orders subsumed an order from the Department of Social Security and Empowerment of person with disabilities. This order entails construction of integrated infrastructure complex (IIC) in Bargarh district of the state of Odisha for Rs 73.27 crores. 

The company also received an order from the Ministry of External Affairs (MEA) for building Residences at MEA’s plot in INA New Delhi for Rs 130 crore. 

NBCC Limited, formerly known as National Buildings Construction Corporation is a public sector undertaking under the Ministry of Housing and Urban Affairs, Government of India.It operates into three major segments namely project management consultancy, real estate and engineering procurement and construction.

The company saw a 24.6 per cent year-on-year (Y-o-Y) increase in net profit for the fourth quarter ending March 31, 2024, reaching Rs 141.5 crore compared to Rs 113.6 crore in the corresponding period of FY23. 

Revenue from operations surged by 43 per cent to Rs 4,025 crore from Rs 2,814 crore in the year-ago period. 

At the operational level, EBITDA rose to Rs 240.2 crore, up from Rs 104.5 crore in the fourth quarter of FY23, with the EBITDA margin expanding to 6 per cent from 3.7 per cent in the same period last fiscal.

At 10:00 AM; the stock of the company was trading 7.46 per cent higher at Rs 139.80 a piece. By comparison, the BSE Sensex was trading 0.53 cent higher. The stock of the PSU is trading at price to earnings valuation of 73.19 times.