Saturday, May 26, 2018

NBCC posts Q4 net profit at Rs 150 cr

STATE-owned NBCC on May 25 posted a consolidated net profit of Rs 150.41 crore for the quarter ended March 2018. The PSU’s net profit was Rs 166.62 crore in the same period of the previous fiscal, the company said in a regulatory filing to Bombay Stock Exchange. However, the net income declined to Rs 2,598.18 crore during January-March quarter of the 2017-18 fiscal from Rs 2,671.61 crore in the year-ago period. The PSU’s expenses, however, remained lower at Rs 2,364.33 crore as against Rs 2,432.61 crore in the said period. NBCC said that the results...
of the fourth quarter are not comparable with the year-ago period because of implementation of GST from July 2017. NBCC, which is under the administrative control of Ministry of Housing and Urban Affairs, is present in three main segments - project management consultancy (PMC), real estate development and EPC contracting.
Earlier, Vice President M. Venkaiah Naidu on May 17 laid the foundation stone of a commercial hub World Trade Centre (WTC) in Nauroji Nagar, the heart of the national capital. The project would be developed by the PSU under license from WTC, New York.
Dr Anoop Kumar Mittal said that the WTC is one of the most prestigious projects for NBCC. Giving details of the project and the modern technologies being implemented he added “It will change the skyline of New Delhi. We will complete the project within two to three years and minimise impact on the environment as the construction progresses.”
To be built at a cost of Rs 32,000 crore, all the three colonies namely Nauroji Nagar, Netaji Nagar and Sarojini Nagar assigned to NBCC for redevelopment, shall be completed by 2022.
NBCC is a Navratna PSU under the Ministry of Housing and Urban Affairs. Certified with ISO 9001:2008 from the Bureau of Indian Standards in respect of Project Management and Consultancy, the company’s present areas of operations are categorised into three main segments: Project Management Consultancy (PMC), Real Estate Development and EPC Contracting. The company is listed with both the Stock Exchanges since 2012. With consolidated revenue of Rs 6,401 crore, NBCC has been growing with a consistent upward trajectory of 20 per cent CAGR in the past five years. The company’s unique business model has today makes it stand out as a leader in its own right in the construction sector with more than Rs one lakh crore order book in hand.          

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