NBCC Q4 profit rises 26% to Rs 136 crore

New Delhi: Navratna PSU NBCC (India) Limited on Tuesday reported a 26 percent growth in its consolidated net profit to Rs 136.08 crore for the quarter ended March 2024.

Its net profit stood at Rs 108.4 crore in the year-ago period.

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

During the 2023-24 fiscal, net profit rose to Rs 401.55 crore from Rs 266.66 crore in the preceding year.

Income from operations grew to Rs 10,432.63 crore in the last fiscal as against Rs 8876.36 crore in the 2022-23 fiscal.

During the period, NBCC secured new business of Rs 23,500 core at consolidated level and Rs 18,400 crore on the standalone level registering a growth of more than 250 percent and 355 percent respectively in comparison to preceding financial year.

NBCC's Chairman and Managing Director (CMD) KP Mahadevaswamy expressed his elation at the remarkable achievement, stating, "We are immensely proud to announce the highest ever turnover in NBCC's history for the fiscal year 2023-2024. This accomplishment is a testament to our unwavering commitment to excellence, customer satisfaction and sustainable growth. We are confident that NBCC’s growth shall continue manifold in the future also."

"This encouraging financial performance of NBCC is attributed to its diversified portfolio, encompassing key sectors such as redevelopment, real estate development, infrastructure projects, project management consultancy, engineering procurement & construction (EPC), hospital consultancy, stuck Amrapali Projects, PSU land redevelopment and more. Leveraging its expertise and strategic partnerships, NBCC has successfully executed a myriad of prestigious projects, contributing to the nation's infrastructure development and economic progress," NBCC said in a official statement.

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