Shares of EPC player NCC are higher by nearly 3% in early trade on November 29 after the company received a Letter of Acceptance for the execution of Rs 3389.49 crore contract for Daudhan Dam, as part of the Ken-Betwa Link Project.
The order has been issued by the Ken-Betwa Link Project Authority under the Ministry of Jal Shakti, for the planning, design and engineering along with hydro-mechanical works for the dam, on EPC basis. NCC said it is required to complete the project in 72 months from the date of commencement of the order.
The total price for the contract would be Rs 3389.49 crore, excluding GST.
NCC has a market capitalisation of Rs 19,000 crore, and the shares are higher by 83% in the last one year.
The company has a prospective project pipeline of more than Rs 2.10 lakh crore, and an order book of Rs 52,370 crore. NCC has reiterated the order inflow guidance of Rs 20,000-22,000 crore, revenue growth of over 15% and EBITDA margin of 9.5-10% in FY25.
NCC's water division is the fourth large division of the company and has an order book of Rs 6,071 crore, which is about 12% of its total order book. NCC recently said that the Jal Jeevan Mission with a planned outlay of Rs 3.60 lakh crore has given an allocation of Rs 70,163 crore to the company for the current financial year.
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!
