NBCC has posted a mixed bag this quarter. The topline disappointed but margins were above street estimates. The news this morning is that both private and public sector financial institutions, are looking to monetise the pledged real estate and have approached the company to develop defaulters' land.
Some of the financial institutions have approached NBCC and we are in serious discussions with them and hopefully some of the projects will be matured very soon, Anoop Kumar Mittal, Chairman of the company told CNBC-TV18.
Topline decline in Q2 is due to goods and services tax (GST) accounting, he said.
Have recently started large projects and revenue will start reflecting from Q3, he added.
Speaking on revenue guidance, he said, “For FY18, I am sure 30 percent total growth will be there year on year (YoY) and FY19 onwards it should be minimum 50 percent YoY.”
On Dharavi project, he mentioned that the discussions regarding redevelopment of Dharavi project is nearing finalisation.
“If we (Government of Maharashtra and NBCC) succeed to get this project, it will be a construction history to redevelop the largest slum of the Asia,” he added.
For full interview, watch accompanying video...
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
