NBCC Falls 2% Despite Bagging Rs 955 Cr in New Orders

Shares of NBCC (India) Limited slipped about 2% on Thursday, even as the state-run construction company announced a fresh batch of orders worth Rs 955.13 crore for the June quarter.

The order tally isn’t one big contract. It’s a mix of projects awarded across April, May and June, spread across Uttar Pradesh, Goa, Jammu and Kashmir, Delhi, West Bengal and Manipur.

NBCC largely works as a project management consultant for government bodies, and wins like this usually arrive in batches rather than as a single headline deal.

The largest piece, worth Rs 334.74 crore, is for building the Central University of Kashmir’s Tulmulla campus in Ganderbal, under the project’s first phase.

The second-biggest order, worth Rs 199.73 crore, is for redeveloping the Circuit House at Altinho in Panaji, Goa. Two more orders round out the bigger names on the list.

The Raghunathpur Thermal Power Station township project in Purulia, West Bengal, for Damodar Valley Corporation, comes in at Rs 98.47 crore, and runs on an EPC basis, meaning NBCC handles engineering, procurement and construction together.

Separately, the redevelopment of government housing quarters at St Inez in Goa, which includes five years of maintenance work afterward, is valued at Rs 76.45 crore.

The rest of the batch is smaller, covering a commercial project in Uttar Pradesh, a government office building in Delhi, and a handful of others across the country. This builds on ground NBCC had already covered.

The company flagged a record order book of around Rs 1.27 trillion back in June, giving it revenue visibility stretching well into the future.

It had also recently sold about 7.08 lakh square feet of commercial space in Delhi’s Sarojini Nagar through an e-auction, worth close to Rs 2,857 crore, and will earn a 1% marketing fee on that deal.

NBCC is down close to 15.5% for the year so far, and Thursday added to that slide. At 15:25 pm, shares of NBCC, were last trading at Rs 103.20 on the NSE, down 1.19% from Wednesday’s close of Rs 104.44.

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