State-run construction company NBCC (India) has firmed up aggressive expansion plans, under which it will increase its presence in smart-city and aviation projects and accelerate the redevelopment of assorted government properties and monetisation of its own land assets.
With a target to secure new orders worth Rs 6,500 crore in the current financial year, the company is also set to expand its footprint in foreign markets manifold, by exploring opportunities in countries including Saudi Arabia, Malaysia, Seychelles, and Mauritius.
The zero-debt Company’s growth area will continue with project management consultancy (PMC), which currently accounts for 93% of its revenue. Overseas expansion is being pursued in a serious manner given its recently secured $130 mn project in the Maldives and it is exploring opportunities in new areas in India and abroad under the PMC segment as well as EPC and real estate portfolios.
NBCC reported a net profit of Rs 182.85 crore in FY22 while revenue from operations stood at Rs 5,546.61 crore. Although the execution of projects got stuck during the pandemic, the company posted a net profit of Rs 201.74 crore in FY21 on revenue of Rs 4,947.45 crore. Its net profits stood at Rs 99.44 crore in Q2FY23 while the previous quarter saw a loss of Rs 13.2 crore.