Share price of this Navratna stock moved up by nearly 5 percent to Rs. 146.15 on Thursday, compared to its previous closing price of Rs. 139.20, after the company got approval to develop five projects worth Rs. 10,000 crores as well as entering into two Memorandum of Understanding MoU.
With a market cap of Rs. 26,019 crore, the shares of NBCC (India) Ltd. opened at Rs. 144.95 on February 22nd. The stock is currently trading in the green at Rs. 145.30, up by nearly 4.38%.
The company has delivered positive returns of nearly 182.8 percent in the last six months, and over 343 percent in the last one year. So far in 2024, it has given positive returns of around 76.0 percent.
According to the recent filings on the stock exchanges, NBCC got approval from the Noida Authority to develop five projects of Amprapali worth Rs. 10,000 crore.
The five projects are Centurian Park, Golf Homes, Leisure Park, Leisure Valley, and Dream Valley located in Greater Noida.
In addition, NBCC and Housing and Urban Development Corporation Limited (HUDCO) entered into two Memorandum of Understanding (MoU).
First, to strengthen cooperation and collaboration for the successful execution of consultancy services.
Second, to strengthen cooperation and collaboration for the successful implementation of Asset Monetization Activities
In terms of financials, the revenue from operations of the company grew by 17.53 percent QoQ from Rs. 2,053 crore in Q2 FY23-24 to Rs. 2,413 crore in Q3 FY23-24.
Further, the company also witnessed an increase in net profit on a quarter-on-quarter basis by nearly 39.02 percent to Rs. 114 crore in Q2 FY23-24 from Rs. 82 crore in Q2 FY22-23.
Established in 1960, NBCC (India) Limited, previously known as National Buildings Construction Corporation Limited, is a Navratna enterprise of the Government of India.
The company is classified into three market-focused segments: Project Management Consultancy (PMC), Engineering Procurement and Construction (EPC) and Real Estate (RE).
Written by Shivani Singh
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