homebusiness Newscompanies NewsNBCC maintains revenue guidance of Rs 9,000 crore for current financial year
NBCC maintains revenue guidance of Rs 9,000 crore for current financial year
NBCC will have to grow revenue by 135 percent in the second half of the year to achieve its full-year guidance.
State-run construction company NBCC (India) Ltd. is expecting revenue worth Rs 9,000 crore during the current financial year, Chairman & Managing Director Pawan Kumar Gupta told CNBC-TV18 in an interview.
For the first six months of the year, NBCC has earned Rs 3,828 crore as revenue from operations. Based on this, NBCC will have to grow revenue by 135 percent in the second half of the year to achieve its full-year guidance.
As of the September quarter, the company's standalone order book stood at Rs 45,000 crore while the same on a consolidated basis stood at over Rs 55,000 crore. It has won total orders worth Rs 1,720 crore during the current financial year so far.
NBCC's CMD during the interaction mentioned that the orders mainly pertain to the redevelopment project. With real estate sales picking up, the company is now intending to move forward with execution.
With regards to new businesses, NBCC is aiming for new business worth Rs 6,000 crore to Rs 6,500 crore this year.
For the September quarter, NBCC reported a 8 percent growth in sales, with EBITDA going up 74 percent while margin also saw expansion compared to last year. Most of the growth came from the real estate business, where revenue more than tripled from last year. PMC revenue increased 7 percent while the EPS business reported a 3 percent drop in revenue from the year-ago period.
During the conference call, the company spoke of the following order wins:
With regards to the Amrapali project, the company has managed to complete 6,000 flats, of which 1,899 have already been handed over to buyers.
Shares of NBCC ended 2.5 percent lower at Rs 40.60.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: Issues raised by Prime Minister Modi have not resonated with people of Tamil Nadu, says Congress
Apr 19, 2024 11:38 PM
West Bengal Lok Sabha elections 2024: A look at Congress candidates
Apr 19, 2024 8:45 PM