Construction of 6000 flats for Kashmiri migrant employees sanctioned in Valley
The accommodation will be for employees engaged under PMDP-2015 and taking up allied works at various locations of transit accommodations in Kashmir Valley.
The Central government-owned construction company, NBCC (India) Ltd, on Tuesday reported a 24.6 per cent year-on-year (YoY) increase in net profit at Rs 141.5 crore for the fourth quarter that ended March 31, 2024.
The company broke all previous records and achieved an unprecedented milestone by crossing operational income of Rs 10,400 crore.
NBCC in a regulatory filing said, “In the corresponding quarter in FY23, NBCC posted a net profit of Rs 113.6 crore. The revenue from operations jumped 43 per cent to Rs 4,025 crore as compared to Rs 2,814 crore in the year-ago period.”
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NBCC’s EBITDA in the fourth quarter climbed to Rs 240.2 crore over Rs 104.5 crore in the fourth quarter of FY23. The EBITDA margin stood at 6 per cent in the reporting quarter versus 3.7 per cent in the corresponding period in the previous fiscal.
Speaking on the company’s performance, KP Mahadevaswamy, Chairman and Managing Director of NBCC (India) Limited, expressed his elation at the remarkable achievement, stating, “We are immensely proud to announce the highest ever turnover in NBCC’s history for the fiscal year 2023-2024.”
“This accomplishment is a testament to our unwavering commitment to excellence, customer satisfaction and sustainable growth. We are confident that NBCC’s growth shall continue manifold in the future also,” he added.
For this quarter, the New Business secured touched Rs 23,500 crore at consolidated level and Rs 18,400 crore on standalone level registering a growth of more than 250 per cent and 355 per cent respectively in comparison to preceding financial year.
The board of directors has recommended a final dividend of Rs 0.63 (0.63%) per paid-up equity share of Rs 1 each for the FY 2023-24 subject to approval of shareholders in the ensuing annual general meeting.
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