Share price of Navratna PSU stock moved up by nearly 6.2 percent to hit an intraday high of Rs. 144.7 on the BSE in the morning trading session of Monday, after incorporating a subsidiary in Dubai.
With a market capitalisation of Rs. 25,884 crores, at 11:24 a.m. the shares of NBCC (India) Limited were trading in the green at Rs. 143.45, up by 5.21 percent, compared to its previous closing price of Rs. 136.25.
The company has delivered multibagger returns of about 133.6 percent in the last six months and nearly 258.1 percent in the last one year. So far in 2024, it has given around 75.4 percent of positive returns.
According to the recent regulatory filings with the stock exchanges, NBCC has received approval for incorporation of a wholly-owned subsidiary company in Dubai (UAE) subject to the approval of its Administrative Ministry, that is, the Ministry of Housing and Urban Affairs (MoHUA).
In terms of financials, the company’s revenue from operations grew by around 18.3 percent from Rs. 1,622 crore in Q2 FY23-24 to Rs. 1,919 crore in Q3 FY23-24, accompanied by an increase in the net profit by 10.6 percent, from Rs. 85 crore in Q2 FY23-24 to Rs. 94 crore in Q3 FY23-24.
Further in FY23-24, the company achieved historical performance by securing record new works of Rs. 23,500 crore on a consolidated basis and Rs. 18,400 crore on a standalone basis, compared to Rs. 6,700 crore (consolidated basis) and Rs. 4,225 crore (standalone basis) in the previous fiscal year.
As per the work related to the Amprapali Project, NBCC has completed about 19,000 units in just three years and is committed to delivering another 19,000 units before March 2025. The company has achieved sales of over 6,300 units in Amrapali Projects with a total sale value of over Rs. 3,650 crore.
During FY23-24, on a consolidated basis, the company has awarded works of approx. Rs. 9,800 crore for different projects, compared to works of ~Rs. 6,050 crore last year, representing a considerable rise of about 62 percent.
Established in 1960, the operating segment of NBCC (India) Limited includes Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC) and Real Estate Development.
Written by Shivani Singh
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