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NBCC (India) Ltd

NBCC
NSE
83.09
0.36%
Last Updated:
02 Apr '26, 3:59 PM
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NBCC (India) Ltd

NBCC
NSE
83.09
0.36%
02 Apr '26, 3:59 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
22,434Cr
Close
Close Price
83.09
Industry
Industry
Infra - Construction & Contracting
PE
Price To Earnings
34.33
PS
Price To Sales
1.73
Revenue
Revenue
12,970Cr
Rev Gr TTM
Revenue Growth TTM
13.84%
PAT Gr TTM
PAT Growth TTM
30.09%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
2,8131,9182,0592,4243,9962,1432,4462,8094,6432,3912,9143,022
Growth YoY
Revenue Growth YoY%
15.36.61.413.542.011.718.815.916.211.619.17.6
Expenses
ExpensesCr
2,7091,8611,9632,3063,7532,0512,3462,6654,3522,2812,8092,909
Operating Profit
Operating ProfitCr
104579611724392100144290110104114
OPM
OPM%
3.73.04.64.86.14.34.15.16.34.63.63.8
Other Income
Other IncomeCr
48481136-44546754-3874103152
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
211111123333
PBT
PBTCr
151104105152198144166196249181205263
Tax
TaxCr
372623395637415466464866
PAT
PATCr
1147782114142107125142183135157197
Growth YoY
PAT Growth YoY%
176.51,696.1-16.258.924.538.552.825.429.126.025.238.5
NPM
NPM%
4.04.04.04.73.55.05.15.13.95.75.46.5
EPS
EPS
0.40.30.30.40.50.40.50.50.70.50.60.7

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
4,4005,8267,4258,4479,9438,0876,9537,6918,87610,40712,03912,970
Growth
Revenue Growth%
8.132.427.413.817.7-18.7-14.010.615.417.215.77.7
Expenses
ExpensesCr
4,1125,5127,0207,9959,5767,9846,8297,4878,5369,89311,41412,352
Operating Profit
Operating ProfitCr
288315405452367104124204340513624618
OPM
OPM%
6.55.45.55.33.71.31.82.63.84.95.24.8
Other Income
Other IncomeCr
14798841632072071801213851138292
Interest Expense
Interest ExpenseCr
401292517761000
Depreciation
DepreciationCr
2256476555712
PBT
PBTCr
393409454584569297292315372559755898
Tax
TaxCr
115120129189177197527794144198226
PAT
PATCr
278289325396392100240238278414557672
Growth
PAT Growth%
8.14.012.521.6-1.0-74.5140.4-0.916.949.034.520.5
NPM
NPM%
6.35.04.44.73.91.23.53.13.14.04.65.2
EPS
EPS
1.01.11.20.71.40.30.80.81.01.52.02.4

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
120120180180180180180180180180270270
Reserves
ReservesCr
1,2181,4211,5141,8861,3281,2701,4631,5881,7652,0462,2092,401
Current Liabilities
Current LiabilitiesCr
3,3813,8515,9399,94211,20510,47111,13811,05810,50110,01410,80110,372
Non Current Liabilities
Non Current LiabilitiesCr
4566194107234430432444253279169168
Total Liabilities
Total LiabilitiesCr
4,7645,4598,06612,26913,09512,50713,37313,44112,87912,70513,64113,395
Current Assets
Current AssetsCr
4,6665,2077,62811,81812,23610,46611,33711,58310,76111,70412,68612,419
Non Current Assets
Non Current AssetsCr
972524384508602,0422,0361,8582,1181,001955976
Total Assets
Total AssetsCr
4,7645,4598,06612,26913,09512,50713,37313,44112,87912,70513,64113,395

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
-15517660590763811345680-374-6657
Investing Cash Flow
Investing Cash FlowCr
-2-36282-474-2098815133272-184573
Financing Cash Flow
Financing Cash FlowCr
-70-84-502-247-150-160-41-95-90-103-269
Net Cash Flow
Net Cash FlowCr
-227563851852794156719-192-293961
Free Cash Flow
Free Cash FlowCr
-16116660090263513045474-385-22338
CFO To PAT
CFO To PAT%
-55.661.0185.8229.1162.9113.0190.133.6-134.6-1.4117.9
CFO To EBITDA
CFO To EBITDA%
-53.656.0149.4200.6173.9109.0366.939.2-110.0-1.1105.3

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
11,49111,29015,48917,13211,9342,9438,3886,5346,37021,42922,110
Price To Earnings
Price To Earnings
43.439.043.745.331.938.037.329.023.953.441.0
Price To Sales
Price To Sales
2.61.92.12.01.20.41.20.80.72.11.8
Price To Book
Price To Book
8.67.39.18.37.92.05.13.73.39.68.9
EV To EBITDA
EV To EBITDA
36.232.232.727.518.6-21.921.84.34.332.126.3
Profitability Ratios
Profitability Ratios
GPM
GPM%
102.5101.2101.9100.998.299.399.599.298.898.496.8
OPM
OPM%
6.55.45.55.33.71.31.82.63.84.95.2
NPM
NPM%
6.35.04.44.73.91.23.53.13.14.04.6
ROCE
ROCE%
32.426.528.529.537.820.918.218.119.225.130.4
ROE
ROE%
20.818.819.219.126.06.914.613.514.318.622.5
ROA
ROA%
5.85.34.03.23.00.81.81.82.23.34.1
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** NBCC (India) Limited is a **Navratna Central Public Sector Enterprise (CPSE)** under the **Ministry of Housing and Urban Affairs (MoHUA), Government of India**, established in **1960**. Headquartered in **New Delhi**, NBCC is a pioneer in end-to-end infrastructure development with over six decades of experience. The company is publicly listed (since 2012) and holds a **61.75% government stake**, ranking among India’s top 500 public companies. NBCC is uniquely positioned as the **only CPSE engaged in real estate development and revival of stalled private real estate projects**, combining **Project Management Consultancy (PMC), Engineering, Procurement & Construction (EPC), and Real Estate Development** under an integrated, self-sustaining business model. --- ### **Core Business Segments** 1. **Project Management Consultancy (PMC):** - Provides end-to-end project management from conception to commissioning. - Serves government ministries, PSUs, municipal bodies, and private institutions. - Includes redevelopment of GPRA colonies, critical infrastructure, and social housing. 2. **Engineering, Procurement & Construction (EPC):** - Executes high-value infrastructure projects including hospitals, educational campuses, social housing, defense structures, airports, chimneys, cooling towers, and border fencing. 3. **Real Estate Development:** - Focuses on **land monetization and redevelopment** of government and PSU-owned properties. - Generates revenue through sale of commercial and residential space, enabling **low-debt, internally funded growth**. --- ### **Key Strengths & Competitive Advantages** - **Navratna & Schedule-A Status:** Reflects high governance standards, operational autonomy, and financial strength. - **Self-Sustaining Redevelopment Model:** - Demolishes outdated government structures and redevelops them using **commercial proceeds** from portioned land. - Requires **no direct government funding**, solving space shortages and high maintenance costs. - Projects include **World Trade Centre (Nauroji Nagar)**, **Sarojini Nagar**, **Netaji Nagar**, and **Kidwai Nagar**. - **Proven Stalled Project Revival Expertise:** - Appointed by the **Supreme Court** and **NCLT** to complete **Amrapali Group’s stalled housing projects**. - Completed **~25,500 residential units** to date; total target: **46,000 units**. - Generated **₹3,650 crore** in real estate sales; secured **bank funding** via SWAMIH and PSU bank consortiums. - **Debt-Free, Cash-Surplus Balance Sheet:** - Positive working capital and interest income from surplus funds. - Achieves **high ROE** despite modest EBITDA margins, indicating efficient capital use. --- ### **Financial Highlights (as of Sep 2025)** - **Order Book:** ₹1,205 billion (10x book-to-revenue visibility). - **FY 2024–25 Inflows:** ₹753 billion (76% from redevelopment & stressed asset projects). - **Real Estate Sales (Cumulative):** ₹147,670 million. - **Commercial Sales Breakdown:** - **World Trade Centre, Nauroji Nagar:** ₹134,090 million (including ₹64,800 million in FY24). - **Downtown Sarojini Nagar:** ₹1,391 million. - **Revenue Growth:** Strong momentum in FY 2025, driven by bulk sales, redevelopment, and EPC projects. --- ### **Major Projects & Redevelopment Portfolio** - **GPRA Colony Redevelopment (7 Colonies in Delhi):** - Nauroji Nagar, Netaji Nagar, Sarojini Nagar, Kasturba Nagar, Thyagraj Nagar, Srinivaspuri, Mohammadpur. - **Srinagar Satellite Township:** ₹12,711.86 crore self-sustaining project in Jammu & Kashmir. - **National Infrastructure Projects:** - IIM Ranchi, IIM Visakhapatnam, NIT Sikkim, IIT Bhubaneswar, AIIMS Deoghar, Bharat Vandana Park, East Delhi Hub (Karkardooma). - **Smart Cities & Health Infrastructure:** - Puducherry and Aligarh Smart City projects. - Ayushman Bharat and NHM-linked healthcare facilities, district drug warehouses, and emergency centers. - **Amrapali Project Revival:** - 20,000 units completed (as of Jun 2024), remaining targets by Q1 FY2025. - FAR monetization: ₹10,000 crore value across Greater Noida. --- ### **International Expansion & Presence** - **Active Projects In:** - **Maldives:** 2,000 social housing units in **Hulhumale** (largest overseas EPC project, $130 million, EXIM Bank-funded). - **Mauritius:** Civil Services College, Police Academy, Forensic Lab, National Archives & Library. - **Seychelles:** Chancery & residential buildings. - **Saudi Arabia:** Project in Jeddah. - **Dubai:** NBCC Overseas Real Estate LLC established in April 2025. - **Recent Milestones:** - Jointly inaugurated a project by **PM of India & President of Maldives**. - India Pavilion at **World Expo 2020, Dubai**. - Exploring new markets in **Uzbekistan, UAE, Fiji, Morocco, Guinea**, and other African nations. - **Funding:** Overseas projects often funded by **India’s EXIM Bank** under **NEIA framework** or Ministry of External Affairs. --- ### **Strategic Growth Initiatives** - **Diversification into New Sectors:** - Aviation infrastructure (e.g., Jaipur International Airport – independent engineering). - Defense, smart cities, irrigation, industrial estates, agri-infrastructure, metro construction (Kochi Metro, MoU with Delhi Metro). - Digital transformation services: GST automation, cybersecurity, data analytics. - **Geographic Expansion:** - Entry into **South India** with Kerala State Housing Board project (₹2,000 crore). - Growth in **Tier-II cities** (Jaipur, Coimbatore, Patna) with targeted margins of 20–25%. - **Bulk Sales Strategy:** - Targets corporate clients, developers, and institutions for scalable monetization. - Achieved **100% commercial space sales** in flagship projects. - **Land Monetization Partnerships:** - Engaging with **SAIL, ONGC, HPCL, Railways, ITI, IARI, ED, PSUs, and state governments** for redevelopment of underutilized land. --- ### **Subsidiaries & Integrated Ecosystem** 1. **HSCC (India) Ltd** (acquired 2018, ₹2,850 crore): - Specializes in hospitals and medical colleges (AIIMS, NCI, PGI). 2. **HSEL (formerly M/s BHEL Projects Ltd)** (acquired 2017, ₹357 crore): - Focus on steel plants, EMRS schools, NDRF, and ESIC hospitals; profitable since FY2020. 3. **NBCC Services Ltd** (est. 2014): - Provides **post-construction maintenance** for CBI, CCI, TRAI, HAL, etc. 4. **NBCC Overseas Real Estate LLC** (Dubai, 2025): - Gateway to real estate and infrastructure development in the **UAE and GCC region**. --- ### **Leadership & Governance** - **Dr. Suman Kumar** appointed **Director (Commercial)** in July 2024. - 30+ years of civil engineering & project management expertise. - Led Amrapali revival and GPRA redevelopment in Delhi. - Prior role: Chief Engineer & Ex-Officio Director, Jharkhand Police Housing Corporation. - **Risk Management & ESG Integration:** - Formal risk mitigation framework. - All new projects comply with **GRIHA and BEE standards**; green-certified projects delivered (e.g., IGBC Silver Moti Bagh).