NBCC Scores Big! Bags Rs 500 Crore Worth of Government and Private Contracts

Shares of Navratna PSU NBCC surged after the company confirmed a slew of government and private sector orders totaling nearly Rs 500 crore. In an exchange filing dated June 5, NBCC announced 13 separate orders amounting to Rs 491.45 crore. 

The largest among these orders is from the Ministry of External Affairs, valued at Rs 130 crore, for constructing residences on a government plot in New Delhi. Additionally, NBCC secured a contract to build a multi-facility healthcare complex in Mumbai's Antop Hill area for Rs 112 crore. Following this news, the company's shares rebounded, rising by 8 percent to reach around Rs 140 levels on June 6. Earlier, on May 29, NBCC reported robust fourth-quarter results, with net profit increasing by 24.6 percent year-on-year to Rs 141.5 crore and revenue from operations jumping by 43 percent YoY to Rs 4,025 crore.

News by Rahul Yelligetti