Nod for Delhi development projects may push up NBCC's execution in future

Two of the three colony redevelopment projects, delayed because of environmental concerns, have now been cleared

The NBCC stock has shed more than 58 per cent of its value over the past one year on execution worries and muted performance in the first half of 2018-19 (FY19). The company, a project management consultant, bags government orders on a nomination basis. Its margins in the September quarter were disappointing, given the change in the accounting policy. 

Further, the company was not able to consolidate financials of a subsidiary, Hindustan Steelworks Construction (HSC), because of some issues leading to consolidated results falling short of the Street estimates.  

The stock reaction, however, is overdone, observe analysts.  The company currently has a