Rs 81,000 Crore Order Book: Multibagger Civil Construction Company Bags Order Worth Rs 500,00,00,000 From Bureau of Indian Standards
The stock gave multibagger returns of over 120 per cent in just 1 year whereas BSE Sensex is up by 23 per cent.
NBCC (India) Limited has secured a significant work order valued at approximately Rs500 crore. The project involves the construction of buildings at various locations for the Bureau of Indian Standards, including their headquarters in New Delhi, central laboratory in Sahibabad, national institute of training for standardization in Noida, northern regional laboratory in Mohali, and Bangalore branch laboratory in Bengaluru. This new project aligns with NBCC's ongoing business operations and reinforces its position in the construction industry.
Earlier, NBCC secured a series of significant contracts, bolstering its project portfolio. The company has won five new projects worth Rs 1,363.48 crore, spanning sectors like education and healthcare infrastructure. These projects include the modernization of schools in Odisha, the construction of a hostel in Balasore, and the expansion of ESIC medical facilities in Haryana. In addition, NBCC has secured a substantial contract worth approximately Rs 1,726 crore for redevelopment projects in Goa. This Phase-I initiative encompasses the redevelopment of government buildings and the construction of new infrastructure, contributing to the state's urban renewal. And lastelty, the company has been awarded a Rs 65 crore contract for development work at Bank of Baroda's commercial plot in Bengaluru, executed on a deposit work basis.
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.
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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 October 2024, the President of India owns a 61.75 per cent stake and the Life Insurance Corporation of India (LIC) owns a 5.11 per cent stake in the company. The stock gave multibagger returns of over 120 per cent in just 1 year whereas BSE Sensex is up by 23 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.