1,640 per cent jump in net profit: This Navratna civil construction company signs MoU with Delhi Metro Rail Corporation Limited (DMRC); stock hit 52-week high!

The stock gave multibagger returns of over 550 per cent returns in 1 decade.

NBCC (India) Ltd informed that a Memorandum of Understanding (MoU) was signed between NBCC and DMRC on August 21, 2023 to work together in the field of building & infrastructure development overseas.

Additionally, NBCC has conducted the 20th auction for the sale of commercial space in the World Trade Centre, Nauroji Nagar, New Delhi. The company has sold a total area of 1.98 lakh sq. ft. (approx.) having a sale value of Rs 821.02 crore, out of which 1.23 lakh sq. ft. area having a sale value of Rs 518.08 crore has been sold to private entities. Further, as of date, the company has sold a total area of 17.79 lakh sq. ft. through open e-auction having a sale value of Rs 7194.10 crore.

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. 

According to the Quarterly Results, the net sales increased by 7 per cent to Rs 1,918 crore, the operating profit increased by 9.62 per cent to Rs 57 crore and the net profit skyrocketed to 1,640 per cent to Rs 77 crore in Q1FY24 over Q1FY23. The company also reported excellent numbers in its annual results.

On Friday, shares of NBCC (India) Ltd plunged 0.86 per cent to Rs 50.62 per share from its previous closing of Rs 51.06 with an intraday high of Rs 52.05 and low of Rs 50.60. The stock also traded at a new 52-week high of Rs 52.06 per share with a spurt in volume by more than 1.06 times on BSE.

The stock gave multibagger returns of over 550 per cent returns in 1 decade. Investors should keep an eye on this Mid-Cap stock.

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