NBCC Q2 Profit on the high | Swells by 31.33%
NBCC (India) Ltd., the State owned Navratna Enterprise under the Ministry of Housing and Urban Affairs, has registered 31.33% increase in PAT (Profit After Tax) at Rs. 81.24 Crore for the Second Quarter ended September 2017, compared to Rs. 61.84 Crore in the same quarter last year. The company has registered a positive EBITDA of Rs 85.93 Crore in Q2FY17-18 as against an EBITDA of Rs 57.12 Crore in Q2FY16-17. The total income from the operations of the Company is Rs.1328.02 Crore. Elaborating upon the business outlook, Dr. Anoop Kumar Mittal, Chairman-cum-Managing Director stated that NBCC had established its stronghold in the areas of PMC and Redevelopment works, and continued to garner huge work orders.
Some of the notable works he mentioned included, redevelopment of Nauroji Nagar into a World Trade Centre (WTC), State-of-The-Art Exhibition-Cum-Convention Centre (IECC) in Pragati Maidan, 2,500-flat housing complex for AIIMS staff, Development of commercial and residential space at Wadala, Mumbai, among others. While expressing confidence of achieving 30% revenue growth in the current Financial Year; Dr. Mittal added that NBCC was looking at capturing the Global market in a big way and had entered into a number of agreements with foreign companies, besides incorporating a subsidiary, NBCC International Limited and offices in international regions to boost the company’s business expansion overseas.
IndianBureaucracy.com wishes the very best.