homemarket Newsstocks NewsNBCC wins orders worth Rs 309 crore in December, shares end higher

NBCC wins orders worth Rs 309 crore in December, shares end higher

NBCC wins orders worth Rs 309 crore in December, shares end higher
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By CNBCTV18.com Jan 24, 2023 4:52:47 PM IST (Published)

Between July and December last year, NBCC received total orders worth Rs 1,462.30 crore.

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 State-owned NBCC (India) Ltd. on Tuesday announced that it received total orders worth Rs 309.10 crore in December 2022.

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In comparison, the construction company had bagged orders worth Rs 300.41 crore in November.

With the latest order, NBCC, formerly known as National Buildings Construction Corporation Ltd., has received total orders to the tune of Rs 1,462.3 crore since July.

Between July and December last year, NBCC secured orders worth Rs 83.12 crore in July, Rs 274.77 crore in August, Rs 162.08 crore in September, and Rs 332.8 crore in October.

NBCC has been a major player in the development of upcoming healthcare infrastructure in the country. The company has executed major healthcare projects across the country like AIIMS medical colleges and other hospitals.

The state-run construction company returned to profitability in the September quarter with a net profit of Rs 99 crore compared to a Rs 4.5 crore net loss in the June quarter. The company’s income from operations increased 8 percent to Rs 2,029 crore from Rs 1,879 crore during the same period a year ago.

The central public sector undertaking is expecting revenue worth Rs 9,000 crore during the current financial year. For the first six months of the year, NBCC earned Rs 3,828 crore as revenue from operations.

NBCC has been a preferred partner of the government for infrastructure projects as 92 percent of the business revenue of the company comes from the project management consultancy segment and redevelopment works.

Shares of NBCC ended 1.07 percent higher at Rs 37.85 on Tuesday.

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