NBCC (India) (534309) Q2 24/25 earnings summary

Executive summary

• Achieved standalone operating income of INR 1,865 crore in Q2 FY25, up 15% year-over-year; tax at INR 24 crore, up 45% year-over-year.

• Consolidated operating income for last year was INR 4,603 crore, a 16% year-over-year increase; tax at INR 232 crore, up 46%.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2024.

• Change in CFO: Shri Saleem Ahmad ceased, Shri Anjeev Kumar Jain appointed effective November 1, 2024.

• Statutory auditors ASA & Associates LLP appointed for FY 2024-25.

Financial highlights

• Consolidated revenue from operations for Q2 FY25: ₹245,872.63 lakh, up from ₹205,852.35 lakh in Q2 FY24.

• Net profit for Q2 FY25: ₹12,513.49 lakh, up from ₹8,190.32 lakh in Q2 FY24.

• Standalone operating income for Q2 FY25: INR 1,865 crore (+15% YoY); tax: INR 24 crore (+45% YoY).

• EBITDA margin currently at 6%-6.6%; guidance maintained at 6%-7%.

• Cash and cash equivalents at period end: ₹217,930.46 lakh (consolidated).

Outlook and guidance

• FY25 revenue target raised to INR 13,000 crore (vs. earlier INR 10,500 crore); bottom line expected to exceed INR 400 crore.

• FY26 revenue guidance: INR 13,000-16,000 crore standalone; consolidated order inflow target: INR 1 lakh crore.

• Execution growth of 15%-20% expected to continue in FY26 and FY27.

• Board and management are actively pursuing resolution of legacy real estate and regulatory issues.

• Market feasibility studies and regulatory clearances underway for stalled and impaired projects.