NBCC Jumps 5% on Rs. 1500 Crore Orders for Grain Storage Plan from NCDC

14 Dec 2023 , 01:25 PM

NBCC (India) Limited, a Navratna central public sector enterprise, rises 5% after securing work orders worth Rs. 1500 Crores from the National Cooperative Development Corporation (NCDC).

At the time of writing, NBCC shares traded at Rs. 83.20, up 3.74% from the previous day’s close of Rs. 80.20, with a market capitalization of Rs. 14,958 Crores.

The work orders involve constructing 1,469 warehouses and other agriculture infrastructure as part of the world’s largest grain storage plan in the cooperative sector across various Indian locations.

NBCC’s revenue composition includes 92% from Project Management Consultancy, 6% from Engineering Procurement and Construction, and 2% from real estate. Its consolidated order book stands at Rs. 55,300 Crores as of Q2FY24.

Notable clients of NBCC include IIM, IIT, BHEL, NTPC, SJVN, the Republic of Mauritius, the Republic of Maldives, among others.

The company’s revenue from operations increased by 13.83% from Rs. 7,690.61 Crores in FY22 to Rs. 8,754.44 Crores in FY23, accompanied by rising profits from Rs. 224.32 Crores to Rs. 266.67 Crores.

NBCC, a major construction CPSE in India, operates in project management consultancy and realty development businesses in both domestic and foreign markets.

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