Edelweiss recommended hold rating on NBCC with a target price of Rs 273 in its research report dated February 14, 2017.
Edelweiss' research report on NBCC
While NBCC’s order book of INR560bn provides strong revenue visibility (book-to-bill at 9.1x), we believe execution will remain soft in near term and pick up only in H2FY18 when work on redevelopment projects in Delhi commences. Maintain ‘HOLD’ with a target price of INR 273 as we roll over to FY19E.
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