NBCC holds 56TH AGM – PAT surges by 16.40%

The 56th Annual General Meeting (AGM) of NBCC, a Schedule ‘A’ Navratna CPSE under the Ministry of Urban Development, Govt. of India, and a State owned Construction Giant, was held in New Delhi recently. The AGM was chaired by CMD Dr. Anoop Kumar Mittal in presence of Board of Directors who informed the shareholders present about the financials and operating performance of NBCC during the last fiscal 2015-16. Dr. Mittal stated that the Company, during 2015-16, registered 32% growth in topline as compared to previous year, posted a profit of Rs 311 Crore while its total income  surged to Rs 5838 Crore and PAT from Rs.278 Crores to Rs.311 Crore. He also informed that NBCC’s outstanding Order Book stood at Rs.70000 Crores and counting. With these improved Financial Results, Company has recommended 100% dividend for the FY 2015-16.

Giving an outlook of NBCC’s future initiatives, Dr. Mittal said that NBCC’s future initiatives would include its major participation in the Govt’s ambitious schemes such as Housing for all by 2022, Development of 100 Smart Cities in the Country and AMRUT, Real Estate Development of Tier II & Tier III Cities, Namami Gange, Skill Development, Swachh Bharat Campaign. In this context, he mentioned that during the year 2015-16, new projects worth Rs 17,516.53 Crore were secured, which include two big-ticket assignments, both located in New Delhi. The first comprises the development of Infrastructure works at AIIMS, valued at Rs 7,828 Crore, and the other entails the construction of an integrated exhibition-cum-convention Centre at ITPO, valued at Rs 2149 Crore. Followed by Chairman’s Speech, there were interactions with Shareholders who applauded company’s new initiatives in all business fronts.