NCC bags order worth Rs. 2,061 crore, stock surges

Hyderabad-based construction company NCC informed bourses on Monday that it has bagged four new orders worth almost Rs. 2,061 crore.

Of this, three orders are related to building division which is worth Rs. 1,997.51 crore, while the remaining Rs. 63.45 crore order is related to water and environment division, said the company in a filing.

In the ongoing fiscal year 2019, the company has received orders worth Rs. 3,668.78 crore. The execution period for these orders range from 9 months to 36 months.

Moreover, as of March 31, 2018 the company’s order backlog was at Rs. 32,532 crore, which translates to a book-to-bill of 3.9x (excluding recently bagged orders). This gives a strong revenue visibility for the next 3 to 4 years.

With this positive development, the stock of NCC reacted positively and surged almost 4.7 per cent to touch an intra-day high of Rs. 101.4. At 10.55 hours. the stock was trading at Rs. 100, up by Rs. 3.3 per cent.