NBCC Posted Highest Ever Sales in FY2024: WTC Delhi Recorded Growth of 208% in Sales

On April 23, 2024, the company announced that it has secured new works of ₹23,500 crore in FY2024 on a consolidated basis and ₹18,400 crore on a standalone basis, against ₹6,700 Crore (Consolidated basis) and ₹4,225 Crore (Standalone basis) in FY2023.

Secured Businesses in FY2024

• NBCC secured additional FAR works in Amrapali worth ~₹10,000 crore.
• The First Redevelopment project outside of Delhi is the Kerala State Housing Board (KSHB) Project, which is valued at ₹2,000 crore.
• Diversification into the Agri-infrastructure Sector through the construction of grain storage under the “World’s Largest Grain Storage Plan” with an approximate value of ₹1,500 crore.
• The company won the contract for redeveloping and modernising Government of India Presses through a self-financing model at Mayapuri, Rashtrapati Bhawan, Nasik & Kolkata, valuing ₹750 Crore.
• Various infrastructure works of SAIL Bhilai, Bokaro, Durgapur & Burnpur valuing ₹580 crore.
• NIT Sikkim works, valuing ₹560 Crore.
• The construction work of Jawahar Navodaya Vidyalaya (JNV) at various locations in Odisha, Bihar, Jharkhand, NER, UP, and Delhi, valuing ₹346 crore, has begun.
• The company secured other works, which include Paradip Port Authority (PPA), Indian Medical Association (IMA), Khadi Village Industrial Commission (KVIC), NIFT Varanasi, Institute of Chartered Accountants of India (ICAI), PWD Puducherry, etc.
• NBCC inked MoUs with BHEL(land monetisation), HUDCO, DMRC and the Institute of Company Secretaries of India (ICSI).

Sales Highlights

In this fiscal year, the company has sold WTC Nauroji Nagar’s commercial real estate inventory for over ₹6,500 crore, compared to last fiscal year’s sales of about ₹2,100 crore. To date, the company has raised over ₹12,100 Crore through 25 e-auctions, selling a total of over 30 lakh sq. ft. of commercial inventory. With the completion of over 95% of the physical work, the project is moving quickly forward.

The company’s strength is in the construction and infrastructure domain, particularly in redevelopment and land monetisation endeavours. He highlighted, “With a robust order book and a strategic focus on redevelopment and land monetisation, NBCC is well-positioned to not only sustain but also incrementally elevate its growth trajectory, propelling sustainable development forward in India’s construction and infrastructure landscape,” said Shri K. P. Mahadevaswamy, CMD of NBCC (India) Limited.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.