NBCC Wins ₹296 Crore Redevelopment Contract from Meerut Development Authority

23 Jun 2025 , 03:19 PM

NBCC (India) Ltd. saw its shares edge higher by up to 3% in Monday’s trade after the company disclosed a fresh project win from the Meerut Development Authority. Valued at a little over ₹296 crore, the new assignment is a consultancy contract tied to redevelopment work across parts of Meerut, Uttar Pradesh.

The public sector engineering firm will act as a project management consultant for the initiative, which forms part of the region’s broader urban development plan.

This latest order comes on the heels of another key win last week. NBCC had announced a ₹172.5 crore contract awarded by UCO Bank for the construction of a new head office building in Kolkata’s New Town area. Designed as a green-rated, high-rise office complex, the project marks a strategic expansion of NBCC’s presence in institutional construction.

Despite market-wide caution, investors have responded positively to NBCC’s growing project pipeline. The company’s financials also appear to back up this optimism.

In the March-ended quarter, NBCC reported a 29% jump in net profit up to ₹176 crore from ₹136 crore a year ago. Revenue increased 16% year-on-year, touching ₹4,642 crore. While operating margins remain modest, they’ve seen a slight improvement. EBITDA rose to ₹290 crore, and margins moved up to 6.25% from 6.09% in the same period last year.

With fresh wins in both the public and institutional sectors, NBCC appears to be gaining ground as a key player in India’s infrastructure push particularly in projects with a redevelopment or sustainability component.

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