The stock was trading at its lowest level since September 16, 2014, when it hit a low of Rs 33.80 in intra-day trade.
NBCC’s operational revenue during the quarter declined 16 per cent at Rs 1,886 crore, against Rs 2,252 crore in the corresponding quarter of previous fiscal.
The company’s real estate division reported a mere Rs 14 lakh profit before tax and interest, as compared to Rs 68 crore in previous year quarter. The revenue of the segment cracked 96 per cent to Rs 5 crore from Rs 130 crore in the year-ago quarter.
The slower redevelopment projects and the possibility of government pressure to acquire more sick companies in future are the key risks for the company, as per analysts.
At 10:37 am, NBCC was trading 11 per cent lower at Rs 35 on the BSE, as compared to 0.89 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 32 million shares changing hands on the NSE and BSE so far.
In the past month, the stock has tanked 39 per cent, against a 3 per cent decline in the benchmark S&P BSE Sensex.