State-owned construction firm, NBCC (India) Ltd on Wednesday (November 27) said it has entered into a memorandum of understanding (MoU) with Housing & Urban Development Corporation Ltd (HUDCO) for the development of a 10-acre institutional plot in Noida Sector 62.
NBCC will act as the project management consultant. The project has an estimated cost of ₹600 crore.
“This is to inform you that NBCC (India) Limited has signed an MoU with HUDCO for the development of a 10-acre institutional plot at Noida sector-62 as a Project Management Consultant. The tentative cost of the project is ₹600 crore approx.,” NBCC (India) said in a regulatory filing.
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NBCC reported its September quarter results on November 13, with the numbers higher on some parameters on a year-on-year (YoY) basis. But its margins saw a contraction compared to last year.
NBCC’s net profit for the quarter increased 52.8% YoY to ₹125.1 crore from ₹81.9 crore. Revenue for the period increased to ₹2,458.7 crore from ₹2,085.5 crore during the year-ago period, up 19.4%.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at ₹100 crore, which was 4.6% higher than the same quarter last year. EBITDA margin, however, narrowed on a YoY basis by 50 basis points to 4.1% from 4.6% during the same period last year.
Also Read: NBCC bags multiple construction orders worth nearly ₹450 crore
Shares of NBCC (India) Ltd ended at ₹95.70, up by ₹1.12, or 1.18%, on the BSE.
(Edited by : Shoma Bhattacharjee)
