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.

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

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

• 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.

• Order book stands at INR 81,000 crore consolidated, with a target to reach INR 100,000 crore by year-end.

Financial highlights

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

• Q1 FY25 profit after tax: INR 107 crore, up 38% year-over-year.

• Standalone revenue from operations: ₹160,718.34 lakh, up from ₹147,470.72 lakh year-over-year.

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

• EBITDA margin guidance for FY25: 5.5%-6%; PAT margin expected at 6%-7%.

Outlook and guidance

• FY25 consolidated revenue target: INR 13,000 crore, implying ~25% growth.

• Top-line growth expected at 25%-30% for the next fiscal year.

• Order inflow target for FY25: additional INR 20,000 crore.

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

• Profit guidance for FY28: INR 2,000 crore, with potential upside of 5%-10%.