NBCC Gets Construction Orders Worth Rs 852 Crore
NBCC's consolidated net profit jumped 25% in the third quarter of the current financial year to Rs 138.5 crore as compared to Rs 110.7 crore in the year-ago period.
NBCC (India) Ltd. on Friday announced that the company had received two significant work orders totalling Rs 851.69 crore. The first order worth Rs 776.75 crore from Damodar Valley Corporation includes construction of buildings and allied works of townships at Durgapur, Koderma and Raghunathpur, and a DVC administrative building at New Town, Kolkata.
The second order, worth Rs 74.94 crore, from the Ministry of Housing and Urban Affairs includes maintenance works of New Moti Bagh GPRA complex (NMB Complex) for two years.
On Feb. 11, the company reported that its consolidated net profit jumped 25% in the third quarter of the current financial year to Rs 138.5 crore, as compared to Rs 110.7 crore in the year-ago period.
The public sector firm posted a revenue of approximately Rs 2,827 crore in the quarter ended December, a 17% rise from Rs 2,423.5 crore in the same period last fiscal.
Shares of NBCC Ltd. fell as much as 5.20% to Rs 81.29 apiece. They pared some losses to trade 4.20% lower at Rs 82.15 apiece, as of 1:20 p.m. This compares to a 0.88% decline in the NSE Nifty 50.
The stock has fallen 4.18% in the last 12 months. Total traded volume so far in the day stood at 13.02 times its 30-day average. The relative strength index was at 52.93.
Out of four analysts tracking the company, two maintain a 'buy' rating, and two suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 45.5%.
