(Photo: Mint)
(Photo: Mint)

NBCC eyes 33% revenue growth in FY'20 at 9,500 crore

  • NBCC (India) has signed an initial agreement for 2019-20 with its administrative ministry
  • During 2018-19, NBCC registered a turnover of 7,141.60 crore and net profit of 384.11 crore

NEW DELHI : State-owned construction firm NBCC Tuesday said it is targeting 33% rise in standalone sales turnover at 9,500 crore during the current financial year.

NBCC (India), a Navratna CPSE under the Ministry of Housing and Urban Affairs, has signed an initial agreement for 2019-20 with its administrative ministry.

The signed MoU outlines performance targets for the company based on various financial parameters, dynamic parameters, sector specific and enterprise specific parameters.

The MoU was signed by Housing and Urban Affairs Secretary Durga Shanker Mishra and NBCC's CMD Shiv Das Meena.

"Sales turnover of the company has been fixed at 9,500 crore and operating profit has been targeted at 5% of revenue from operations (net). Profit after tax has been targeted as 27% of average net worth," the company said in a statement.

During 2018-19, NBCC registered a turnover of 7,141.60 crore (21.63% growth over previous year) and net profit of 384.11 crore (an increase of 15.14% over previous year).

The MoU has laid specific emphasis on achieving set parameters with respect to completion of projects above 150 crore without time overrun.

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