Shares of NBCC (India) gained more than 4% on Tuesday after the state-owned company announced receiving a work order worth ₹560 crore for a construction project in Sikkim.
In a filing to the stock exchanges,
NBCC said that it has secured a work order worth ₹560 crore from the National Institute of Technology (NIT) in Sikkim.
As per the details of the contract, NBCC (India) will be involved in the construction of the permanent campus of NIT Sikkim, located at Dung Dung Khamdong in the state’s capital city Gangtok.
According to the contract details, the first project valued at ₹331.9 crore pertains to the construction work at Rani Lakshmi Bai Central Agricultural University in Jhansi, Datia, along with the upcoming campuses in Morena and Khajuraho.
The company also bagged an order worth ₹12.17 crore for the construction of a single-court complex and residential quarter in Boath, Telangana. The third project, valued at ₹24.98 crore, involves the renovation and furnishing of ICAI Bhawan in Noida. The contract was awarded by the Institute of Chartered Accountants of India (ICAI).
NBCC (India) reported a net profit of ₹110.7 crore in the December 2023 quarter, registering 60.2% year-on-year (YoY) from ₹69.1 crore in the same period last year. Its revenue from operations increased 13% to ₹2,412.6 crore as against ₹2,135.8 crore in the year-ago period.
Shares of NBCC were trading 1.13% higher at ₹142.90 apiece on BSE at 3:09 PM.
(Edited by : Ajay Vaishnav)
