Hot Stock under Rs 100: This civil construction company receives order worth Rs 66.32 crore from Indian Medical Association!

The stock gave multibagger returns of over 600 per cent returns in 1 decade.

NBCC (India) Ltd informed that the company have received an order worth Rs 66.32 crore from Indian Medical Association. The order includes planning, designing and execution of the IMA House at Indraprastha, IP Estate, New Delhi- 110002 and will be completed within 30 months from the letter of intent (LOI).

Additionally, NBCC has conducted the 20th auction for the sale of commercial space in the World Trade Centre, Nauroji Nagar, New Delhi. The company has sold a total area of 1.98 lakh sq. ft. (approx.) having a sale value of Rs 821.02 crore, out of which 1.23 lakh sq. ft. area having a sale value of Rs 518.08 crore has been sold to private entities.

NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three major segments - Project Management Consultancy, Engineering Procurement & Construction, and Real Estate. 

According to the Quarterly Results, the net sales increased by 7 per cent to Rs 1,918 crore, the operating profit increased by 9.62 per cent to Rs 57 crore and the net profit skyrocketed to 1,640 per cent to Rs 77 crore in Q1FY24 over Q1FY23. The company also reported excellent numbers in its annual results. The shares of the company have a ROE of 20 per cent and a ROCE of 26.2 per cent. Also, the company has been maintaining a healthy dividend payout of 44.4 per cent

On Friday, shares of NBCC (India) Ltd surged 0.43 per cent to Rs 51.09 per share from its previous closing of Rs 50.87 with an intraday high of Rs 52 and low of Rs 50.66. The stock gave multibagger returns of over 600 per cent returns in 1 decade. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.