Thursday, July 18, 2024
HomeNewsTop NewsNBCC Secures Rs 100 Crore PMC Contract From REC

NBCC Secures Rs 100 Crore PMC Contract From REC

NBCC (India) has secured a significant order worth Rs 100 crore from REC in a routine business transaction.This project involves serving as the project management consultant (PMC) for the construction of new facilities and the refurbishment of the current RECIPMT Building in Shivarampally, Hyderabad.

The contract underscores NBCC’s expertise in project management consultancy, one of its three core business segments, which also include real estate and engineering procurement & construction. This new project is expected to bolster the company’s portfolio and further establish its presence in the construction and infrastructure sectors.

Financially, NBCC has demonstrated strong performance in recent quarters. In Q4 FY24, the company’s consolidated net profit surged by 24.52% to Rs 141.49 crore. This impressive growth was complemented by a 42.86% increase in revenue from operations, which reached Rs 3,936.98 crore, compared to the same period in the previous fiscal year.

Despite this positive news, NBCC’s stock saw a slight decline of 0.66%, currently trading at Rs 165.20 on the BSE. Market fluctuations aside, the new contract from REC is anticipated to contribute positively to the company’s future financial results and operational capabilities.

Stakeholders and investors are optimistic that NBCC’s continued focus on high-value projects and strategic growth will yield substantial long-term benefits. The company’s robust financial performance and expanding project portfolio position it well for sustained success in the industry.

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