homebusiness NewsNCC aims for 20% revenue growth in FY24, confident of exceeding order inflow guidance
NCC aims for 20% revenue growth in FY24, confident of exceeding order inflow guidance
Neerad Sharma, Head of Strategy at NCC told CNBC-TV18 that the revenue growth target factors in the nearly 35% growth in the past six months. Sharma has set a margin target of 10% for the year.
Hyderabad-based infrastructure development company NCC is confident of achieving revenue growth of over 20% in the financial year 2024 with order inflow surpassing guidance of ₹26,000 crore.
Neerad Sharma, Head of Strategy at NCC told CNBC-TV18 that the revenue growth target factors in the nearly 35% growth in the past six months. The margin target for the year is set at 10%, he added.
Sharma said NCC has already achieved 80% of the order inflow guidance amounting to ₹21,000 crore.
Sharma also shared details of the projects secured by NCC under the government's ₹360,000 crore Jal Jeevan Mission Scheme that aims to provide clean water to households.
“...our order book from the scheme is quite substantial, comprising about 17-18% of the total. In terms of value, it's around ₹19,000-20,000 crore,” he said.
NCC has also secured two significant orders for smart meters in Maharashtra and Bihar, with a combined value of ₹8,080 crore, he added.
In November, brokerage firm CLSA reiterated its ‘buy’ rating on the NCC stock based on the record backlog of orders, including smart meter, water, and urban infra orders.The brokerage also increased the target price to ₹201 per share from ₹195 earlier. The target price implies a potential upside of close to 16% from the current price of around ₹174 apiece.
The market cap of NCC is ₹10,965 crore and it competes with companies such as Hindustan Construction, and Larsen & Toubro.
(Edited by : Shweta Mungre)
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