NBCC posts 32 per cent topline growth in FY’16

State-owned Navratna enterprise NBCC registered a 32 per cent growth in topline during FY 2015-16 as compared to the previous year.

The annual financial results for FY 2015-16, announced on May 16show the company posting a profit of Rs.311 crore while its total income has surged to Rs.5,838 crore.

Anoop Kumar Mittal, Chairman-cum-MD, NBCC, told the media, “The order book position of the company as of now, stood at more than Rs35,000 crore and was likely to touch the figure of approximately Rs60,000 crore in next few months.”  Elaborating upon the business outlook, Mittal stated that the company’s focus areas in the coming years would primarily be PMC and re-development works.

Giving an account of the Company’s latest strategic moves in business operations, Mittal spoke of NBCC’s recent initiative towards acquiring HSCL, a Central PSU under the Ministry of Steel.  When asked about the viability of this takeover by NBCC, he said “It would be a win-win situation for NBCC as this would allow the company to enter into the steel vertical where it has no presence at present”.

Mittal also informed the media that the company had recently gone for stock split of each equity share of face value of Rs.10 each into five equity shares of face value of Rs.2 to make the company script more affordable for common investors.

x