NBCC PAT up by 15.97% in Q2FY19

NBCC PAT up by 15.97% in Q2FY19

New Delhi, 19 November, 2018: State owned Navratna PSU, NBCC(India) Limited under the Ministry of Housing and Urban Affairs (MoHUA), has reported a strong Q2FY19 earnings with its net profit  up by 15.97% to Rs 85.96 crore as against Rs 74.12crore in the corresponding quarter for last year.

The total income for the reporting quarter stood at Rs 1,646.48 crore as compared to Rs 1,153.71 crore in the same period of last year, registering a total growth of 42.71%.

Commenting on the results, Dr. Anoop Kumar Mittal, CMD, NBCC, said, “EBITDA of this quarter is not comparable with same quarter of previous year, since in the Q2 FY18 we have account for some upfront fee for DPR preparation as per the old policy but due to change in accounting norms & policy of the company w.e.f 01.04.2018, upfront fee for DPR preparation is now account for as advance and not a part of top line & bottom line at the time of receipt.

Upfront Fee for DPR Preparation will become the part of top line & bottom line during the execution of the project. Hence the margin of PMC segment in the current year would also remain in the range of 6.5 to 7.00%.

A preferred partner of the Government for infrastructure projects, NBCC’s 88% of business revenue comes under PMC segment which has grown by leaps and bounds by touching an order book for nearly Rs. 1,00,000 crore.

During the quarter ending July-September FY19, NBCC has bagged various projects from the State governments like Uttarakhand, Rajasthan, Jharkhand to name a few.

NBCC recently invited Expressions of Interest (EoI) from interested developers to jointly develop commercial and residential real estate projects as a co-developer in Delhi-NCR.