This S&P BSE 500 index stock jumped 4.8% within the first half hour of markets opening on Monday after the company announced receipt of an order from Vizag Port Authority. The stock currently trades at Rs. 64.33 versus Rs. 63.03 at previous close. The company has a market cap of Rs. 11,579 crore and made its 52 week high today at Rs. 266.20.
The company has returned 65% YTD and 112% in the last 1 year period making it a multibagger. Meaning, if you invested Rs. 1 lakh into the company one year ago, it would now be worth over 2.1 lakh! Additionally, the company is a PSU with 62% of it being held in the President of India’s Portfolio.
In a filing dated 13th October 2023, NBCC (India) Ltd (“NBCC”) stated that it has received a work order for Renovation/ Refurbishment of Office Buildings located in Visakhapatnam Port Authority. Nature of the order is Project Management Consultancy on a deposit work basis. The said order is worth Rs. 80 crore and the time frame in which it is to be executed/ completed is yet to be decided.
Earlier this month the company received another order for Construction of Permanent Building of Newly Approved Composite Regional Centre (CRC) at Chhatarpur, Madhya Pradesh from Ali Yavar Jung National
Institute of Speech and Hearing Disabilities (Divyangjan), AYNISHD, Mumbai. This order is also a Project Management Consultancy on a deposit work basis and its time frame of execution/ completion is yet to be decided. This order is worth Rs. 25.2 crore.
In India and abroad, NBCC operates in project management consulting and real estate development. The company, a Navratna Enterprise of the Government of India under the Ministry of Housing and Urban Affairs, engages in three main business sectors: engineering procurement & construction, real estate, and project management consultancy.
In FY23, the company’s revenue grew 21% YoY from Rs. 5547 crore to Rs. 6736 crore. Net profits during the same period grew 24% YoY from Rs. 186 crore to Rs. 231 crore.
Written by Sandeep R
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