NBCC shares surge after selling units in Greater Noida worth ₹2,353 crore

NBCC (India) Ltd on Wednesday, March 19, said it has sold 1,046 residential units at Aspire Centurian Park in Greater Nodia via an e-auction. The total sale value is approximately ₹2,353 crore.NBCC said it will get marketing of 1% of sale value.

On Monday, March 17

the company bagged a contract worth ₹44.62 crore from the Mahatma Gandhi Institute for Rural Industrialisation in Wardha.
The scope of work would include overseeing the construction and development of infrastructure at the facility, as well as a hostel and VIP guest house. The same will be under the engineering, procurement and construction mode. The contract is part of the company’s ongoing business operations in the project management sector.The company reported a 25.1% increase in its December quarter net profit at ₹138.5 crore from ₹110.7 crore in the previous year. Its revenue from operations increased 16.6% to ₹2,827 crore from ₹2,4235 crore in the previous year. NBCC’s EBITDA rose 22% to ₹142 crore from ₹116.8 crore in the previous year. Its EBITDA margin expanded slightly to 5% against 4.8% in the year-ago period.

NBCC shares gained 4.2% to hit an intraday high of ₹83.35 apiece on Wednesday, March 19. The stock was up 2.92% at ₹82.06 per share at 1.55 pm. It has declined 28.4% this year, so far.

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