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NBCC India Reports Record Growth in Q4 FY 2023-24

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TIN NETWORK

NBCC India Reports Record Growth in Q4 FY 2023-24

The company’s income from operations surged to Rs. 4,024.5 crore in Q4 FY24, up from Rs. 2,813.35 crore in the corresponding quarter of the previous year, as per the regulatory filing

Navratna PSU NBCC (India) Limited announced a significant financial performance for the quarter ended March 2024, reporting a 26% increase in consolidated net profit to Rs 136.08 crore, compared to Rs 108.4 crore in the same period last year.

The company’s income from operations surged to Rs 4,024.5 crore in Q4 FY24, up from Rs 2,813.35 crore in the corresponding quarter of the previous year, as per the regulatory filing.

For the entire fiscal year 2023-24, NBCC’s net profit rose to Rs 401.55 crore, a substantial increase from Rs 266.66 crore in the preceding year. Additionally, the company’s income from operations grew to Rs 10,432.63 crore, compared to Rs 8,876.36 crore in FY23.

NBCC also reported remarkable growth in securing new business, with Rs 23,500 crore at the consolidated level and Rs 18,400 crore on the standalone level, marking growth rates of over 250% and 355% respectively compared to the previous fiscal year.

Expressing his satisfaction with these achievements, NBCC’s Chairman and Managing Director (CMD) KP Mahadevaswamy stated, “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.”

In an official statement, NBCC attributed its strong financial performance to its diversified portfolio, which includes redevelopment, real estate development, infrastructure projects, project management consultancy, EPC, hospital consultancy, stuck Amrapali Projects, PSU land redevelopment, and more. Leveraging its expertise and strategic partnerships, NBCC has successfully executed numerous prestigious projects, contributing significantly to national infrastructure development and economic progress.

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