NBCC (India) soars after bagging contract for developing satellite township worth Rs 15,000 crore

NBCC (India) zoomed 8.67% to Rs 183.55 after the company announced that it has bagged a contract worth Rs 15,000 crore from Srinagar Development Authority.

The contract is Development of Satellite Township spread over 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar, Jammu and Kashmir (J&K).

The value of the aforementioned order is nearly 0.45 times the companys current full market capitalization, which currently stood at Rs 33,048 crore.

NBCC (India) is in business of operates into three major segments namely project management consultancy, real estate and engineering procurement & construction.

The companys consolidated net profit climbed 24.52% to Rs 141.49 crore on 42.86% jump in revenue from operations to Rs 3,936.98 crore in Q4 FY24 over Q4 FY23.

 

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