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Thursday, July 25, 2024

NBCC (India) Secures Rs 1,500 Crore Order for Grain Storage Project from NCDC

NBCC (India) Ltd has announced the receipt of a substantial order worth Rs 1,500 crore from the National Cooperative Development Corporation (NCDC), a statutory Corporation under the Ministry of Cooperation/Primary Agriculture Cooperative Society (PACS) in various states. The order encompasses the construction of 1469 warehouses and additional agri infrastructure as part of the world’s largest grain storage initiative in the cooperative sector. These facilities will be established at various locations across India.

NBCC (India) Limited, recognized as a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs, operates in three key segments: Project Management Consultancy, Engineering Procurement & Construction, and Real Estate. The company boasts a market capitalization exceeding Rs 14,000 crore.

Financial Results: In Q2FY24, net sales increased by 1.16% to Rs 2,053.3 crore, while net profit decreased by 16.3% to Rs 81.8 crore compared to Q2FY23. For H1FY24, net sales rose by 3.72% to Rs 3,971.1 crore, and net profit surged by 73.28% to Rs 159.2 crore over H1FY23. In FY23, net sales witnessed a 13.83% increase to Rs 8,754.4 crore, and net profit rose by 16.44% to Rs 277 crore over FY22.

Order Book: NBCC’s standalone order book is at Rs 44,700 crore, and the consolidated order book stands at Rs 55,300 crore. The new order secured in FY23-24 is Rs 7,094 crore, maintaining a margin of 6% to 8%. The company’s stock experienced a 0.61% dip on Friday, closing at Rs 82.02 per share with an intraday high of Rs 83.95 and an intraday low of Rs 81.56. Despite this, the stock has delivered impressive multibagger returns of 100% in just one year, outperforming the BSE Sensex, which recorded a growth of 15.7%. Investors are advised to monitor developments closely.

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