1:2 Bonus Share & Rs 81,000 Crore Order Book: PSU Civil Construction Company Bags 6 Orders Worth Rs 1,726 Crore From Government of Goa
The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Sensex is up by 25 per cent.
NBCC (India) Limited has recently secured a significant contract valued at approximately Rs 1,726 crore for redevelopment projects in Goa. This Phase-I initiative encompasses various projects, including the redevelopment of Junta House, the Government Garage, the Circuit House, and government quarters, as well as the construction of an administrative building and a mini-convention center. These projects are expected to contribute to the infrastructure development and urban renewal of the state.
Earlier, the company secured five new projects worth Rs 1,363.48 crore. These projects, acquired through regular business operations, encompass diverse sectors, including education and healthcare infrastructure. Notable projects include the upgradation of schools in Odisha, the construction of a hostel in Balasore, and the expansion of ESIC medical facilities in Haryana.
Furthermore, the shares of the company ex-traded bonus shares in the ratio 1:2 i.e., 1 new fully paid-up equity share of Re 1 each for every 2 existing fully paid-up equity shares of Re 1 each to the eligible members of the company as on record date. The ex-date for bonus shares was Monday, October 07, 2024.
About NBCC (India) Ltd
NBCC (India) Limited, a prominent government-owned construction company under India's Ministry of Housing and Urban Affairs, offers a comprehensive suite of services across three key segments. Their project management consultancy (PMC) arm tackles civil construction projects for various sectors including residential, commercial, healthcare, and educational institutions. Additionally, they specialize in engineering, procurement, and construction (EPC) for complex structures like high-rise chimneys and cooling towers. Finally, NBCC (India) Limited is a major player in real estate development, building residential townships, apartments, commercial office spaces, and shopping malls. This diversified approach has positioned them as a leading construction enterprise in India.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
Results
According to the Quarterly Results, the net sales increased by 11.32 per cent to Rs 2,144.16 crore and the net profit increased by 38.4 per cent to Rs 107.20 crore in Q1FY25 over Q1FY24. In its annual results, the net sales increased by 17.53 per cent to Rs 10,432.64 crore and the net profit increased by 49.54 per cent to Rs 414.27 crore in FY24 over FY24.
Order Book: The company's order book as of June 30, 2024, crosses Rs 81,000 crore. The current year target is around Rs 10,000 crore turnover at the standalone and Rs 13,000 crore at the consolidated level
As of June 2024, the President of India owns a 61.75 per cent stake and the Life Insurance Corporation of India (LIC) owns a 5.96 per cent stake in the company. The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Sensex is up by 25 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.