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NBCC Shares Rise More Than 3% After Securing Orders Worth Rs 230 Crore

The company and its subsidiary received orders worth Rs 215 crore. 

Shares of NBCC (India) rose more than 3% in early trade on March 10 after the company secured an order worth Rs 230 crore.

Central public sector enterprises under the Ministry of Housing and Urban Affairs have received work orders worth Rs 229.81 crore from the Indian Institute of External Trade. The civil construction firm will build a new campus for IIFT in Kakinada, the company said in an exchange document.

NBCC (India) quoted Rs 37.93 on the BSE at 11:48 am, up Rs 0.87, or 2.35%. It touched an intraday high of Rs 38.50 and an intraday low of Rs 37.20. The stock was trading at 1,250,418 shares compared with its five-day average of 985,404 shares, an increase of 26.89%.

Earlier, the company secured orders worth Rs 541.02 crore in Himachal Pradesh, Jammu, Kashmir, and Odisha.

In FY21-22, project management consulting accounted for 92% of total revenue, while engineering, procurement and construction accounted for 6.5%, with the smallest 1.5% coming from real estate.

As of February 24, the company’s consolidated order book stood at Rs 54,600 crore.

NBCC bagged gross business of Rs 194.17 crore in January, compared to Rs 309.10 crore a month earlier and Rs 300.41 crore in November. Its consolidated net sales for December 2022 stood at Rs 2,135.78 crore, up 6% year-on-year, while net profit fell nearly 17% to Rs 69.09 crore.

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