In a promising development, NBCC (India) Limited’s shares made a strong 3 percent gain during early trade on September 22. The state-owned infrastructure consultant revealed that it had clinched a significant work order worth Rs 100 crore from SAIL (Steel Authority of India Limited). This order encompasses a range of developmental projects in SAIL’s township and mines located in Bhilai, Chattisgarh.
NBCC will be providing project management consultancy services on a deposit work basis, as outlined in its regulatory filing.
This marks the fourth order secured by NBCC this month, with the cumulative value of these contracts amounting to an impressive Rs 450 crore.
As of 9:20 am on the NSE, NBCC’s stock was trading at Rs 58.70 per share, reflecting a gain of Rs 1.50, or 2.62 percent.
In its financial results for the April-June quarter, NBCC reported a commendable 6.61 percent YoY increase in revenue from operations, reaching Rs 1,918 crore. The company also posted a profit of Rs 77 crore, a notable turnaround from the Rs 5 crore loss reported during the same period in the previous year. Operating profit margins for the quarter remained consistent year-on-year at 3 percent.
NBCC, a public sector undertaking, specializes in construction and real estate development. The company excels in providing project management, consultancy, and engineering services for a wide range of civil construction, infrastructure development, and real estate projects.
