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HomeNewsNBCC’s Business Soars High in Financial Year 2023-24

NBCC’s Business Soars High in Financial Year 2023-24

NBCC (National Buildings Construction Company) business grew significantly in the financial year 2023-24. In the regulatory filing, the company reports business of Rs. 23,500 crore in FY 23-24. Soon after filling business gains, the company marked a jump of 7% in this share price value on Tuesday, April 23rd, 2024. 

The company single-handedly and on a consolidated platform did business of Rs. 23,500 crore and 18,400 crore respectively. These figures are more than the recorded numbers for earlier Financial Year i.e. FY22-23. In the earlier fiscal, NBCC the National Buildings Construction Company secured a business of Rs. 6,700 crores and Rs.4,225 crore respectively. 

These figured were quoted by NBCC, a public sector company in the regulatory filing. 

NBCC CMD K P Mahadevaswamy said, “robust order book and a strategic focus on development and land monetization as growth driver.”

In Delhi, Nauroji Nagar’s World Trade Center, NBCC sold commercial inventory worth Rs. 6,500 crore in the recently ended fiscal year. The price value is 3x of what the company sold in FY 22-23.  

In the regulatory filing, NBCC reported a sale of 30+ lakh sq.ft., via 25 e-auctions valued at more than Rs. 12,100 crore.  In FY 24, the company received projects at a rough estimate of Rs. 9,800 crore via distinct projects. It calculates to about 62% growth yearly. 

By far, NBCC completed approximately 19,000 units of Amrapali group in the last three years. The company looks positive about handing over another batch of 19,000 residential units by 2025. In the Amrapali project, NBCC with ASPIRE attained sales of over 6,300 units. The total cost of these sales stands at Rs. 3,650 crore.  NBCC founded Amrapali Stalled Projects and Investments Reconstruction Establishments (ASPIRE) to deliver residential units to the buyers of Amrapali group.

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