NBCC ups standalone net profit, enlarges order book in FY19
New Delhi: NBCC (India) has reported a standalone net profit of Rs 384.11 crore as against Rs 333.60 crore during the previous financial year, registering a growth of 15.14 percent. The net profit for the March quarter stood at Rs 152.75 crore as compared to Rs 141.65 crore in the corresponding quarter in the previous year.
FY19 total income at Rs 7,432.22 cr
The standalone total income for the financial year 2018-19 stood at Rs 7,432.22 crore as compared to Rs 6,011.14 crore in the previous year, seeing a growth of 23.64 percent. The consolidated total income for FY2018-19 stood at Rs 10,151.37 crore as compared to Rs 8609.62 crore in the previous financial year.
For the quarter ended March 31, 2019, the company's standalone total income stood at Rs. 2,424.09 crores as against Rs. 2223.32 crore of Q4 of the previous year, NBCC said in an official statement.
Order book value touches Rs 85,000 cr
At least 93 percent of NBCC's business revenue comes under PMC segment which has grown by leaps and bounds, touching an order book of more than Rs 85,000 crore.
New projects on the anvil
During FY18-19, NBCC bagged various projects: AIIMS-Bilaspur and Jharkhand, IIM-Ranchi &Vishakhapatnam, IIT Bhubhneshwar, infrastructure works under Raipur SMART city Limited, redevelopment of WHO Office, projects under Central govt schemes of PMGSY & Namami Gange and other projects in different Indian states.
The company expanded its international order book in FY18-19, bagging a Rs 2,000-crore project to build Mahatma Gandhi International Convention Centres in nine African nations and another order to construct the Indian Pavilion at the World Expo 2020 in Dubai. The company recently signed an agreement to construct three key projects in Mauritius worth $44 million (Rs 304 crore approx.).
The total value of projects won from April 2018 to March 2019 is Rs 12,427.42 crore.
Mergers and acquisitions of the year
"During the year, NBCC also forayed into large-scale residential projects by submitting a Resolution Plan (RP) to acquire debt-ridden Jaypee Infratech Ltd, so as to deliver the houses for around 22,000 aggrieved homebuyers," the statement said.
"During the year, NBCC acquired public sector company HSCC formerly known as Hospital Services Consultancy Corporation. HSCC, under the Ministry of Health and Family Welfare, is engaged in the provision of consultancy services in health-care and other social sectors in India and abroad with a vision to secure business synergies," it added.