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Business News/ Markets / Stock Markets/  Multibagger NBCC share price climbs over 8% after company bags new orders worth 491 crore

Multibagger NBCC share price climbs over 8% after company bags new orders worth ₹491 crore

NBCC (India) stock surged 8.4% to ₹141 per share after securing orders worth ₹491 crore. The company won orders from CGHS and Department of Social Security. The stock has gained 78% in the past six months and 219% in the last year.

Multibagger Stock: From its April 2020 low of ₹15.90 per share, the stock has skyrocketed 780% to date.Premium
Multibagger Stock: From its April 2020 low of 15.90 per share, the stock has skyrocketed 780% to date.

Shares of NBCC (India), the state-owned construction firm, jumped 8.4% in today's early morning deals, reaching 141 apiece after the company received orders worth 491.45 crore from multiple clients.

In an exchange filing on Wednesday, the company announced that it secured a 112 crore order from the Central Government Health Scheme (CGHS) for the construction of a multi-facility healthcare complex. 

Additionally, it won a 73.27 crore order from the Department of Social Security and Empowerment of Persons with Disabilities for the construction of the Infrastructure Complex (IIC) with peripheral development in Bargarh District, Odisha.

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Thanks to strong order wins this year, the stock has rewarded shareholders with a return of 79% over the past six months and 219% over the last year. From its April 2020 low of 15.90 per share, the stock has skyrocketed 780% to date.

In the recent March quarter (Q4FY24), the company reported a healthy performance, with net profit growing 26% year-on-year to 136.08 crore, up from 108.4 crore in the same period the previous year. 

Income from operations rose to 4,024.5 crore in the fourth quarter of the last fiscal year, compared to 2,813.35 crore in the corresponding period the previous year, according to the regulatory filing.

For the fiscal year 2023-2024, net profit increased to 401.55 crore from 266.66 crore in the preceding year. Income from operations grew to 10,432.63 crore, up from 8,876.36 crore in the 2022–2023 fiscal year.

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On a consolidated basis, the company awarded works worth approximately 9,800 crore for different projects during the 2023–2024 fiscal year, compared to 6,050 crore the previous year, marking significant growth of about 62%.

Regarding Amrapali, the company has successfully completed about 19,000 units over three years, including two years under the influence of the COVID-19 pandemic. It is committed to delivering another 19,000 units before March 2025. 

Together with Aspire, the company has achieved sales of over 6,300 units in Amrapali Projects, with a total sale value exceeding 3,650 crore, as per the company's recent exchange filing. 

During the fiscal year, the company diversified 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. 

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It has also signed MoUs with BHEL (land monetization), HUDCO, DMRC, and the Institute of Company Secretaries of India (ICSI).

Established in 1960 as the construction arm of the Government of India, NBCC achieved 'Navratna' status in 2014. Its core operations span across three primary segments: project management consultancy (PMC), real estate development, and EPC contracting.

The real estate segment includes residential projects like apartments and townships, as well as commercial projects such as corporate office buildings and shopping malls.

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Disclaimer: We advise investors to check with certified experts before taking any investment decisions.

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Published: 06 Jun 2024, 10:00 AM IST
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