State-owned firm NBCC (India) Ltd has reported a 26 percent increase in its profit to Rs 77.74 crore for the third quarter of this fiscal. It had posted a profit of 61.89 crore in the year-ago period, the company said in a statement on Thursday.
The total standalone income from operations for the December 2018 quarter stood at Rs 1,651.62 crore, compared wih Rs 1,321.50 crore in the year-ago period, registering a total growth of 24.98 per cent. During the April-December 2018 period, total income from operations grew by 30.81 percent over the corresponding period last year.
NBCC Managing Director Anoop Kumar Mittal said: “We began the new financial year with a target of minimum 30 percent growth in topline in all our business verticals. Our performance so far this year has been in that line. There are several projects in pipeline which are now getting matured. The NBCC has been working towards bringing down its employee cost and also controlling overheads.”
NBCC’s 88 percent of the business revenue comes under PMC segment which has an order book of nearly Rs 85,000 crore. The total value of projects won from April 2018 to December 2018 stood at Rs 8,311.68 crore. During this period, NBCC also made a foray into large-scale residential projects with the Supreme Court handing over incomplete projects of private builders to NBCC, for completion.
Its areas of operations are categorised into three main segments: Project Management Consultancy (PMC), Real Estate Development and EPC Contracting.