NBCC bags order worth Rs 720.32 crore from Central Coalfields

National Buildings Construction Corporation (NBCC) Limited has received a Letter of Acceptance (LoA) from Central Coalfields Limited (CCL) worth Rs 720.32 crore, to provide Project Management Consultancy (PMC) services for the construction of smart township/colony roads, network and other road, service buildings and other allied jobs related to mines for Magadh and Amrapali area (Jharkhand).

Last month, the company had received a Letter of Intent (LoI) from HIL Limited to provide PMC services for the development of 5.12 acres land parcel on self-sustainable model. The estimated cost of the project is Rs 350 crore wherein, NBCC will be paid a fee of Rs 34.50 crore.

During the month of December 2019, the company had secured business of Rs 1,090.53 crore while in November 2019, it had secured business worth Rs 8,861.05 crore.

The company has a strong order book of around Rs 80,000 crore as on September 30, 2019 which translate into book-to-bill of ~8x on FY19 revenue giving a strong revenue visibility. Out of these, around Rs 40,000 crore are self-sustainable. Besides, the company expects to get a clearance from the court for Nauroji Nagar project. Also, approvals on revised drawings for Sarojini Nagar and Netaji Nagar redevelopment projects are expected to come in near term.

On Tuesday, the stock of NBCC opened at Rs 37.90 and touched Rs 38.35, up by 1.9 per cent from its previous close of Rs 37.60.