NBCC shares jump 5% on strong Q4 results, construction PSU stock surges 235% in a year

NBCC (India) is a public sector undertaking (PSU) company under the Ministry of Housing and Urban Affairs, Government of India.

Shares of NBCC (India) jumped over 5 percent on May 29, a day after the company posted good quarterly results for the quarter ended March 2024.

The state-owned construction firm's net profit jumped 24.6 percent on-year to Rs 141.5 crore and revenue from operations jumped 43 percent YoY to Rs 4,025 crore during the quarter under review.

At the operating level, NBCC's EBITDA climbed to Rs 240.2 crore in the fourth quarter of FY24 as against Rs 104.5 crore in the fourth quarter of FY23. The EBITDA margin stood at 6 percent, up from 3.7 percent in the corresponding period in the previous fiscal.

The board of directors of NBCC recommended a final dividend of Rs 0.63 (0.63 percent) per paid-up equity share of Re 1 each for the FY24 subject to the approval of shareholders in the ensuing annual general meeting. The final dividend, if passed, would be paid within 30 days of the AGM.

NBCC (India) is a public sector undertaking (PSU) company under the Ministry of Housing and Urban Affairs, Government of India. Its areas of operations encompass project management consultancy (PMC), engineering procurement & construction (EPC), and real estate development.

At 10:57 am on May 29, NBCC shares were trading 1.8 percent higher at Rs 141.40 apiece on the National Stock Exchange. So far this year, the stock has rallied around 72 percent, outperforming benchmark Nifty 50, which has gained nearly 5 percent during this period.

Also Read | Redevelopment, land monetization propel NBCC's business growth in FY24

In the 12 months gone by, NBCC shares have delivered multibagger returns of around 235 percent, more than tripling investors' money.