NBCC (India) Secures with Rs.150 Crore KVIC Contract: A Major Leap in Infrastructure Development

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NBCC (India) Secures Rs 150 Crore Contract from KVIC: A Leap Towards Progress

NBCC (India), a renowned civil engineering construction services provider, has recently made headlines by securing a contract worth Rs.150 crore from the Khadi & Village Industries Commission (KVIC). This contract marks a significant milestone in the company’s journey, further solidifying its position in the industry.

A Glimpse into the Contract

The contract entails planning, designing, and execution of upcoming works such as construction of office buildings, residential campuses, redevelopment, repair & renovation of KVIC Properties Pan India. This project not only showcases NBCC (India)'s expertise in civil engineering construction services but also its commitment to contributing to the nation’s development.

NBCC (India)'s Growth Trajectory

Following the announcement of this contract, NBCC (India)'s shares advanced by 1.67% to Rs 59.68, reflecting the market’s positive response to this development. As of 31 March 2023, the Government of India held a 61.75% stake in NBCC (India), further emphasizing the company’s strategic importance in the country’s infrastructure sector.

Financial Performance: A Turnaround Story

NBCC (India) has demonstrated a remarkable turnaround in its financial performance. The company reported a consolidated net profit of Rs 75.14 crore in the quarter ended June 2023, bouncing back from a net loss of Rs 6.29 crore during the previous quarter ended June 2022. Furthermore, sales rose by 7.11% to Rs 1913.79 crore in Q1 FY24 over Q1 FY23, indicating a positive growth trajectory.

Looking Ahead

Securing the contract from KVIC is a testament to NBCC (India)'s capabilities and reputation in the industry. It not only provides a significant boost to the company’s portfolio but also opens up new opportunities for future growth. As NBCC (India) continues to make strides in its journey, it will be interesting to see how this contract shapes its future endeavors.

In conclusion, this development marks an exciting chapter in NBCC (India)'s growth story. With its robust capabilities and strong financial performance, NBCC (India) is well-positioned to make significant contributions to India’s infrastructure development.

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