The Navratna stock surged nearly 12% during the first half of Friday’s trading session, hitting an intraday high of ₹188.50 per share after the company secured a ₹15,000 crore order from the Srinagar Development Authority.
At 11:10 a.m., NBCC (India) Ltd. shares were trading at ₹187.25 per share, up 10.86% from the previous close price. The company has a market capitalization of ₹32,886 crore.
What Happened: According to an exchange filing by NBCC, the company has secured a ₹15,000 crore order from the Srinagar Development Authority for the development of a Satellite Township spanning 406 acres at Rakh-e-Gund Akshah, Bemina, in Srinagar (J&K).
Also read
About the company:
NBCC (India) Limited, a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs, operates in three major segments: Project Management Consultancy, Engineering Procurement and Construction, and Real Estate.
In FY23-24, the company secured new business orders worth ₹23,500 crores and achieved record-breaking sales, particularly in the commercial real estate sector. Notably, sales at the World Trade Centre in New Delhi soared to approximately ₹6,480 crores, marking an impressive increase of over 208% compared to the previous fiscal year.
Additionally, NBCC sold commercial real estate valued at around ₹6,500 crores in FY23-24, a significant jump from approximately ₹2,100 crores in the preceding year.
The company operates through wholly-owned subsidiaries, including NBCC Services Limited, HSCC (India) Ltd, and NBCC DWC-LLC (Dubai).
Financials: The company has achieved a 19% year-on-year revenue growth, increasing from ₹8,754 crore in FY22-23 to ₹10,433 crore in FY23-24. During the same period, net profit surged by 50%, rising from ₹278 crore to ₹414 crore.
NBCC shares have experienced significant gains, rising by 24% in the last six months and 275% over the past year. For instance, a shareholder investment of ₹ 1 lakh in the company a year ago, would be worth ₹3.75 lakhs.
Management Guidance: Looking ahead, the management is aiming for a top-line of ₹12,500 crores to ₹13,000 crores for the current financial year, with expected EBITDA margins of 5.75% to 6% and PAT margins of 5.25% to 6%. The anticipated order inflow is projected to be around ₹25,000 crore.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
