Rs 70,000 crore order book: This multibagger civil construction company incorporates a wholly owned subsidiary company in Dubai (UAE)

The stock gave multibagger returns of 250 per cent in just 1 year whereas BSE Sensex is up by 23 per cent.

NBCC (India) Ltd announced that the company has accorded the in-principle approval for incorporation of a Wholly Owned Subsidiary Company in Dubai (UAE) subject to the approval of its Administrative Ministry i.e. Ministry of Housing and Urban Affairs (MoHUA).

NBCC had a phenomenal FY 2023-24, securing a record Rs 23,500 crore in new business (up over 250 per cent from the prior year) and achieving an all-time high in sales of Rs 6,480 crore for commercial real estate at World Trade Centre, New Delhi (more than 208% growth). This included major projects like Rs 10,000 crore for additional FAR works in Amrapali (where over 6,300 units were sold with Aspire for Rs 3,650 crore), Rs 2,000 crore for Kerala State Housing Board's redevelopment project, and Rs 1,500 crore for grain storage construction.

They also completed 19,000 units and are committed to delivering another 19,000 by March 2025, with a completion rate exceeding 95% for some projects. Overall, NBCC's commercial real estate sales reached Rs 6,500 crore (up from Rs 2,100 crore) and they sold over 30 lakh sq. ft. of property through e-auctions for a total value exceeding Rs 12,100 crore.

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NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three major segments - Project Management Consultancy, Engineering Procurement & Construction and Real Estate. The company has a market cap of over Rs 23,000 crore.

Order Book: The company's order book as of March 31, 2024, crosses Rs 70,000 crore.

Results: According to the Quarterly Results, the net sales increased by 13 per cent to Rs 2,413 crore and the net profit increased by 61 per cent to Rs 114 crore in Q3FY24 over Q3FY23. According to nine-month results, the net sales increased by 9 per cent to Rs 6,384 crore and the net profit increased by 104 per cent to Rs 139 crore in 9MFY24 over 9MFY23. In its annual results, the net sales increased by 13.83 per cent to Rs 8,754.4 crore and the net profit increased by 16.44 per cent to Rs 277 crore in FY23 over FY22.

The company has been maintaining a healthy dividend payout of 44.4 per cent. The stock gave multibagger returns of 250 per cent in just 1 year whereas BSE Sensex is up by 23 per cent. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.