NBCC secures order worth Rs. 362 crore in April
NBCC (India) has secured a total business of Rs. 361.91 crore in the month of April 2019. Earlier, the company had secured a total business of Rs. 3,031.70 crore in March 2019.
At the end of December 2018 quarter, the company had a strong order book of Rs. 85,000 crore which translates into ~12x book-to-bill on TTM revenue basis giving strong revenue visibility for years to come.
The company had a challenging time in executing these redevelopment projects in Delhi’s Netaji Nagar and Sarojini Nagar due to environmental concern. But now it has received approvals from the Supreme Court to begin construction works.
In the third quarter of FY19, NBCC’s revenue grew nearly 29 per cent yoy to Rs. 2,438.8 crore while its net profit grew to Rs. 84 crore from Rs. 68 crore in the corresponding quarter of the previous year.
In Wednesday’s trading session, the stock of NBCC was in negative terrain. The stock opened at Rs. 55.95 as against the previous close of Rs. 56.25. The stock hit an intra-day high of Rs. 56.45 but later it dipped to a low of Rs. 53.95 apiece and settled for the near its day low at Rs. 54 price, down by 4 per cent.