NBCC (India) (534309) Q4 24/25 earnings summary

Executive summary

• Achieved 16% year-over-year growth in consolidated revenue and 35% growth in consolidated PAT for FY25, with consolidated revenue at ₹12,039 crore and PAT at ₹755.02 crore.

• Maintained a strong, debt-free balance sheet and robust order book, which crossed ₹1.2 trillion, ensuring long-term revenue visibility.

• Secured highest-ever business in FY25: ₹60,000 crore standalone, ₹75,280 crore consolidated, and awarded work orders worth ₹23,250 crore.

• Paid interim and final dividends totaling ₹0.67 per share for FY25, with a bonus issue of 90 crore equity shares (1:2 ratio) in October 2024.

• Ranked second among all CPSEs and first in construction/consultancy by DPE performance rating, and received excellent MOU rating for FY24.

Financial highlights

• Q4 FY25 consolidated revenue: ₹3,217.53 crore (+6.95% YoY); consolidated PAT: ₹137.19 crore (+34.12% YoY).

• FY25 consolidated revenue: ₹12,039 crore (+16% YoY); consolidated PAT: ₹755.02 crore (+35% YoY); EPS: ₹2.00.

• Standalone ROE for FY25: 21.32%; ROCE: 14.84%.

• Exceptional item of ₹95.65 crore (non-recurring) related to environmental clearance and project provisions.

• Cash and cash equivalents at year-end stood at ₹3,00,984 lakh.

Outlook and guidance

• FY26 revenue guidance: ₹15,000–16,000 crore consolidated, ₹11,000 crore standalone; PAT guidance: ₹750–800 crore for FY26, ₹1,200 crore for FY27, and ₹2,000 crore for FY28.

• Order inflow target for FY26: ₹22,000–25,000 crore; project awards in FY26 targeted at ₹18,000–20,000 crore standalone.

• Three-year outlook: topline of ₹25,000 crore, bottom line of ₹2,000 crore, order book of ₹1.5–2 lakh crore.

• Strategic partnerships and major project wins in Q4 FY25, including a ₹25,000 crore MOU with MAHAPREIT.

• Pursuing legal and regulatory remedies for stalled real estate projects and exploring monetization options.