Shares of NCC soars after winning Infra orders from Jal Jeevan & others

Hyderabad-based Construction Company straddling over the country focused on construction activities such as buildings & transportation, NCC recorded a 40 percent increase in its combined net profit at Rs. 220.65 crore for the quarter finished in December 31. The rise in net profit lies on the higher execution during the quarter.

The revenue generation of the construction company rose close to 35 percent YoY (year-on-year) in Q3FY24 to Rs. 5,260 crore from Rs. 3,909.6 crore. Regardless the tax, interest, depreciation and amortization, the earnings of the infrastructure company increasd around 34 percent to Rs. 505. 4 crore from Rs. 376.4 crore. 

On this regard, Neerad Sharma, Head-Strategy, NCC states that the construction & infrastructure company is foreseeing to grab New construction contracts under the central government scheme of Jal Jeevan Mission. Presently the share of the company NCC holds orders from Jal Jeevan Mission that accounts to Rs. 18,000 crore.

In this circumstance, now the company announced that it has gained two new orders worth over Rs. 1,476 crore. Out of them Rs. 1,303.7 crore order is linked with the transportation sector and the other Rs. 172.31 crore order is linked with building sector. At the same time, the previous order of the company is a share of NCC-J Kumar united venture and the total value account Rs. 2607. 39 crore.