PSUs

NBCC profits zoom; order book swells

By IndianMandarins- 21 Sep 2017
577

nbcc-profits-zoom-order-book-swells   NBCC posted a net profit of Rs.355 crore in FY17 on a total Income of Rs.6400 crores. CMD Dr. Anoop Kumar Mittal told a presser that the Order Book position of the Company as of now stood at around Rs.75,000 crore and was likely to touch the figure of approximately Rs one Lakh Crore in the next few months. Elaborating upon the business outlook, Dr. Mittal stated that the Company's focus areas in the coming years would primarily be PMC-based Redevelopment works. He said that NBCC already had huge work orders from the Government in respect of the redevelopment of properties which included Rs.5,000 Crores East Kidwai Nagar Redevelopment which is nearing completion; Rs.2,149 Crores Integrated Exhibition-cum-Convention Centre for ITPO; AIIMS Redevelopment Works of Rs.5.828 Crores etc. In this context, he also shared details on recently secured huge works of the redevelopment of Govt. properties valuing approximately Rs.25,000 Crore located at Netaji Nagar, Sarojini Nagar and Nauraji Nagar in Delhi. DR. Mittal in this regard, added that the Nauroji Nagar Commercial Hub shall be named World Trade Centre, New Delhi, as NBCC has got the License from WTC New York recently. Giving an account of the Company's latest strategic moves in business operations, Dr. Mittal spoke of NBCC's recent acquisition of HSCL, a Central PSU under the Ministry of Steel, setting up of two more new subsidiaries - NBCC International Ltd. to aggressively go for enhancing overseas stake and NBCC Environment Engineering Ltd. to pursue the cause of sustainability and environment. The Company's Earnings Per Share (EPS) for the FY 2016-17 was Rs.3.90 against Rs.3.19 in the previous year.

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