NBCC Secures ₹316 Crore Odisha School Hostel Upgrade Order

27 Nov 2024 , 09:00 PM

NBCC (India) Ltd. has secured a ₹316 crore order from the Odisha government for upgrading primary school hostels across the state. The order, awarded by the ST & SC Development, Minorities, and Backward Classes Welfare Department, is part of Odisha’s state sector scheme. Last week, NBCC won a ₹202 crore contract from the Rajasthan State Industrial Development and Investment Corporation (RIICO).

The Rajasthan project involves project management consultancy for constructing the Unity Mall (PM-Ekta Mall) in Jaipur. Earlier, NBCC bagged multiple orders worth ₹112 crore from Odisha’s ST & SC Development Department.

• A ₹22 crore project involves upgrading Badapada High School in Malkangiri to a higher secondary school (art stream).
• Six additional orders, each worth ₹15 crore, were awarded for similar educational infrastructure projects.

Financial performance for the September quarter showed growth despite margin contraction:

• Net profit surged 52.8% YoY to ₹125.1 crore, compared to ₹81.9 crore in the same quarter last year.
• Revenue increased by 19.4%, reaching ₹2,458.7 crore from ₹2,085.5 crore YoY.
• EBITDA rose 4.6% YoY to ₹100 crore, though the margin narrowed to 4.1%, down 50 basis points from 4.6% last year.