NBCC (India) (534309) Q1 24/25 earnings summary

Executive summary

• Achieved consolidated total income of INR 2,198 crore in Q1 FY25, up 11% year-over-year, with profit after tax at INR 107 crore, a 38% increase year-over-year.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2024, were approved by the board on August 13, 2024.

• Secured new business worth INR 19,750 crore on a consolidated basis in Q1, including major projects in Srinagar, Jhansi, Kochi, and Greater Noida.

• Order book stands at INR 81,000 crore consolidated, with a target to reach INR 100,000 crore by year-end and INR 200,000 crore in 4-5 years.

• Statutory auditors issued an unmodified review for standalone results and a qualified review for consolidated results due to pending financial closure of certain subsidiary projects.

Financial highlights

• Q1 FY25 consolidated revenue grew 11% year-over-year to INR 2,198 crore.

• Consolidated revenue from operations: ₹211,867.84 lakh, up from ₹192,201.38 lakh year-over-year.

• Profit after tax increased 38% year-over-year to INR 107 crore.

• Consolidated net profit: ₹10,719.48 lakh, up from ₹7,741.02 lakh year-over-year.

• Real estate sales in Q1 were INR 63 crore, with a full-year target of INR 600 crore.

Outlook and guidance

• FY25 revenue target is INR 13,000 crore consolidated, representing about 25% growth year-over-year.

• Top line expected to grow 25-30% annually over the next few years, with bottom line growth in line.

• By FY28, targeting INR 25,000-28,000 crore revenue and INR 2,000-2,300 crore profit.

• Ongoing efforts to resolve regulatory and legal issues in key real estate projects, with market feasibility studies and clearances underway for stalled developments.