NBCC shares gain 2% on bagging three orders amounting to Rs 541.02 cr

NBCC India: NBCC bags three construction and development projects worth Rs 541 crore. The company has received three construction and development projects worth Rs 541 crore including development of new industrial estate in union territory of Jammu & Kashmir worth Rs 217.27 crore, and construction of Institute of Chemical Technology in Bhubaneswar worth Rs 300 crore.

Shares of NBCC (India) gained more than 2 percent on March 8 after the company secured orders worth Rs 541.02 crore in Himachal Pradesh, Jammu & Kashmir and Odisha.

At 12:11pm, shares of the company were trading 1.1 percent higher at Rs 36.23 on the BSE.

The National Health Mission of Himachal Pradesh has awarded an order worth Rs 23.75 crore for the Construction of Critical Care Block in Chamba of Himachal Pradesh. The Jammu & Kashmir government’s Industrial and Commerce Department has awarded a Rs 217.27-crore order for development of new industrial estate, while the company has bagged a Rs 300 crore-construction order from the Institute of Chemical Technology-Indian Oil Odisha Campus of Bhubaneswar.

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In FY21-22, project management consultancy formed 92 percent of the total revenue, while engineering, procurement and construction forms 6.5 percent and the smallest chunk of 1.5 percent comes from real estate.

The company’s consolidated order book stood at Rs 54,600 crore, as on February 24, 2023.

NBCC secured the total business of Rs 194.17 crore in January in comparison to Rs 309.10 crore a month back and Rs 300.41 crore in November. Its consolidated net sales came in at Rs 2,135.78 crore in December 2022, up 6 percent YoY, while net profit fell nearly 17 percent to Rs 69.09 crore.