NBCC Climbs 3% as Arm HSCL Bags Rs 159 Crore Orders

NBCC shares rose 3% on Friday after its subsidiary HSCL won government contracts worth close to Rs 159 crore in Odisha.

The orders were actually won by Hindustan Steelworks Construction Limited, a wholly owned subsidiary of NBCC.

HSCL picked up four separate contracts, all in the education infrastructure space, and all structured as project management consultancy work.

This simply means HSCL will oversee and manage the construction on behalf of the client, rather than building it entirely on its own.

Two of the contracts come from the District Mineral Foundation in Keonjhar, Odisha, for a mega education complex and related university works, worth Rs 70.59 crore and Rs 17.24 crore respectively.

The other two come from the Kendriya Vidyalaya Sangathan, for new school campuses in Angul and Sambalpur districts, each worth Rs 35.56 crore. Together, the four contracts add up to Rs 158.95 crore.

This isn’t a one-off. Earlier this month, NBCC had already picked up work orders worth Rs 132.28 crore, including two Navodaya Vidyalaya school campuses in Assam and a sports hostel project in Odisha.

The company currently sits on an order book of around Rs 1.2 lakh crore, with close to Rs 38,000 crore worth of projects under execution, and it plans to add another Rs 20,000 crore in fresh orders this financial year.

At the close of trade, shares of NBCC settled at Rs 99.98, up 2.28% for the day. The stock is still down close to 18% so far this year, even after Friday’s gain.

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