NCC gains 3 per cent on govt orders

Infrastructure and construction company, NCC informed the bourses on Monday that it has bagged orders totalling to Rs. 4,619 crore without GST in the last month of FY19.

Of these, order worth Rs. 1,802 crore is related to Building Division, four orders worth Rs. 802 crore is related to Electrical Division, while one order of Rs. 1,531 crore is related to irrigation division. Further, orders worth Rs. 384 crore was secured under Water & Environment Division.

The company said that these orders are from central/ state government agencies and do not include any internal orders. The above projects need to be executed within 12 to 43 months from the date of the award.

NCC’s order book for the December 2018 quarter end was at Rs. 34,185 crore. This order book results in book-to-bill of around 2.9x on TTM revenue which gives strong revenue visibility for the next 2-3 years.

In February 2019, NCC received five orders totalling to Rs. 4,088 crore. Also, it received nine orders totalling to Rs. 4,089.7 crore in the month of January 2019.

Cheering the order win, the stock jumped by 3 per cent and made an intraday high of Rs. 116 on the BSE.