NBCC Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q3 FY26 earnings call analysis: revenue, margin, capex, fundraise and order book outlook from management commentary.

Published 16 Aug 2026 | Construction | Market Cap: ₹24.0K Cr

FY26 revenue forecast is around INR 14,000 crores with EBITDA margins of 5-6% and PAT margins of 6-7%. For FY26, NBCC expects a PAT of INR 700-800 crores, with turnover around INR 14,000 crores and EBITDA margins of 5-6% (Page 36, 20).

From NBCC's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹88.88

Market Cap

₹24.0K Cr

P/E Ratio

35.1

How does NBCC rank in Construction?

Compare NBCC against every Construction company this quarter on revenue, margins and earnings-call signals.

Revenue: Rank 2Margin: Rank 3

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NBCC — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹4.6K Cr, net profit ₹254 Cr.

Full financials →

📊 Revenue & Sales Performance

Rank 2

→FY26 revenue forecast is around INR 14,000 crores with EBITDA margins of 5-6% and PAT margins of 6-7%.
→PAT expected for FY26: INR 700-800 crores.
→FY27 revenue target is conservative INR 16,000 to 18,000 crores with PAT around INR 1,000 to 1,200 crores.
→Large projects like Supertech (INR 10,000 crores top line), Rajasthan Mandapam, J&K, Mumbai Port Trust expected to boost FY27-28 order book and execution.
→FY28 bottom line conservatively projected at INR 2,000 crores, potentially doubling in FY29 with real estate projects (Ghitorni, 37D).
→Order inflow for FY26 expected to reach INR 20,000 crores minimum, possibly higher if Delhi redevelopment projects are awarded.
→Anticipated execution phase for INR 40,000-50,000 crores worth projects in FY27.
→Strategic MoUs with foreign governments (Australia, Seychelles) may drive future international revenue.

📈 Profitability & Margins

Rank 3

→For FY26, NBCC expects a PAT of INR 700-800 crores, with turnover around INR 14,000 crores and EBITDA margins of 5-6% (Page 36, 20).
→FY27 projections include revenues of INR 16,000-18,000 crores and PAT of INR 1,000-1,200 crores (Page 8, 21; Page 11).
→By FY28-FY29, NBCC aims for a PAT of INR 2,000 crores, driven mainly by real estate projects like Ghitorni and 37D, which will realize profits upon possession and handover (Page 15, 28).
→Real estate projects contribute higher profit margins post-possession; PMC projects provide steady revenue and profit earlier (Page 28).
→Order inflows are expected to remain strong, with targets around INR 20,000 crores annually and potential large redevelopment projects in Delhi adding to the pipeline (Page 20, 33).
→Strategic international MoUs may contribute to future revenues, targeting projects in Australia and Seychelles (Page 16).

See what NBCC said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

Yes

- NBCC is strategically investing in real estate projects like the Ghitorni project (~₹8,500 crore revenue potential) expected to create long-term value. - The company is adopting new construction technologies, including Mivan shuttering and pre-cast technology, to reduce dust and improve efficiency. - NBCC plans to invest in the Supertech project with a top line of around ₹10,000 crore and a bottom line of ₹800-900 crore, with completion in phases over 12 to 36 months. - There is a recent acquisition of a land parcel in Dubai International City (~14,760 sq. ft. land, 52,000 sq. ft. GFA), aiming to launch a project with expected top line ~₹155 crore over two years. - Investments in redevelopment projects like Rajasthan Mandapam and potential projects in Jammu & Kashmir and MAHAPREIT (₹40,000 crore pipeline) are part of NBCC’s future capital deployment for growth. - Strategic MoUs with foreign governments (Australia, Seychelles) for hospital and island development projects signify future expansion and investments. Overall, NBCC is focusing on both technological upgrades and large-scale real estate developments domestically and internationally.

💰 Fundraising & Capital Structure

Yes

- For the Supertech project execution, initial seed money is required. - The Insolvency Resolution Professional (IRP) is expected to take a loan from the bank for funding the Supertech projects, indicating bank financing is in process. - No explicit mention of equity fundraising was made in the call. - Discussions on expanding redevelopment projects with state governments (Chhattisgarh, Jharkhand, Andhra Pradesh) mention taking seed money possibly from HUDCO, indicating potential debt financing support. - No direct announcement of new equity issuance or broader debt raising beyond project-specific loans. Overall, NBCC plans to rely mainly on bank loans and financial institutions like HUDCO for project financing rather than equity fundraises, at least as per the details shared in this transcript.

See what NBCC said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

Yes

→Consolidated order book stands at approximately INR 1,26,000 crores (includes Supertech project).
→Standalone order book split: ~40% PMC (around INR 45,000 crores), ~60% redevelopment (around INR 67,000 crores).
→Ongoing projects value approximately INR 30,500 crores (NBCC standalone INR 26,000 crore, HSCL INR 2,300 crore, HSCC INR 2,072 crore, NSL INR 250 crore).
→Expected new awards next financial year: minimum INR 20,000 crores (including Supertech, Rajasthan Mandapam, J&K projects).
→Pending order book in Sarojini Nagar: approx. INR 4,000 crores; Netaji Nagar: INR 1,400-1,600 crores; 7 GPRA projects expected to complete in 2 years.
→J&K project issues near resolution and tendering soon.
→Mumbai Port Trust project valued around INR 10,000-10,500 crores in pipeline, not yet included in order book.
→Delhi redevelopment project expected to add INR 30,000-40,000 crores order book, potential start within 6-8 months after award.

Key Metrics

3 of 5 growth signals positive in the Q3 FY26 call.

Revenue

Rank 2

Margin

Rank 3

Capex

Yes

Fundraise

Yes

Order Book

Yes

How does NBCC rank vs peers in Construction?

Pro feature

1NBCC

Rev 2Mar 3

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What NBCC's management said in earlier quarters

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Frequently Asked Questions

What were NBCC Q3 FY26 results?

What is NBCC share price analysis?

NBCC currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 35.1 with a market cap of ₹23,998 Cr. Investors should review the full earnings analysis for detailed insights.

Is NBCC planning capital expenditure?

NBCC is strategically investing in real estate projects like the Ghitorni project (~₹8,500 crore revenue potential) expected to create long-term value. - The company is adopting new construction technologies, including Mivan shuttering and pre-cast technology, to reduce dust and improve efficiency. - NBCC plans to invest in the Supertech project with a top line of around ₹10,000 crore and a bottom line of ₹800-900 crore, with completion in phases over 12 to 36 months. - There is a recent acquisition of a land parcel in Dubai International City (~14,760 sq.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.