NBCC (India) shares gained as much as 2.88 per cent on Wednesday after the company informed bourses that it has executed a Memorandum of Understanding (MOU) with University Grant Commission, (UGC), Government of India on Tuesday whereby the company has been assigned work for construction of New UGC Building Complex at JNU Campus, New Delhi amounting approximately Rs 270 crore. At 9.41 am, shares of the company were trading 1.66 per cent up at Rs 251. The scrip opened the day at Rs 251.40 and has touched a high and low of Rs 254 and Rs 249.85, respectively, in trade so far. Later, the scrip ended 1.64 per cent up at Rs 250.95.
The company on September 5 informed bourses that it has bagged projects worth Rs 614.83 crore in August. It had got a business of Rs 344.72 crore in July.
For the quarter ended March 31, 2016, the company reported a consolidated net profit of Rs 141.48 crore, up 5.87 per cent, against Rs 133.64 crore in the corresponding quarter a year ago. Consolidated net sales of the company jumped by 38.80 per cent to Rs 2251.14 crore for the quarter under review against Rs 1621.83 crore in the same quarter last year. Consolidated operating profit of the company jumped by 6.95 per cent year-on-year to Rs 214.44 crore against Rs 200.51 crore in the same period.
NBCC (India) is a public sector company engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.