Infrastructure company NCC Ltd on Tuesday (November 25) said it has received a letter of acceptance from the Public Works (Health & Education) Department, Assam, for the expansion and modernisation of Gauhati Medical College & Hospital in Guwahati.
According to the company, the order has been awarded by a domestic entity and covers a comprehensive scope of work for upgrading the medical college and hospital infrastructure. The contract carries a value of ₹2,062.71 crore, excluding GST.
As per the terms, the project will be executed over a period of 42 months, which includes six months for demolition, planning, designing and engineering, followed by 36 months for execution. In addition to the construction phase, the contract includes comprehensive operations and maintenance for civil and services for five years.
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NCC stated that the order forms part of the general conditions of contract applicable to the project. The company also confirmed that neither the promoter nor the promoter group nor any group companies have any interest in the awarding entity.
Second Quarter Results
Revenue for the quarter fell 12.6% from last year to ₹4,543 crore, while EBITDA declined 11.5% on a year-on-year basis to ₹394 crore.
The EBITDA margin for the quarter expanded slightly 20 basis points to 8.7% from 8.5% in the year-ago quarter. NCC reported a net profit of ₹155 crore, which is 5% lower than last year’s net profit figure of ₹163 crore.
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Shares of NCC Ltd ended at ₹173.95, up by ₹1.70, or 0.99%, on the BSE today, November 25.
