NBCC (India) Ltd Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book

Published 19 Jul 2026 | Construction | Market Cap: ₹25.9K Cr

FY '25 revenue crossed INR15,000-16,000 crores; FY '26 guidance is INR11,000 crores (stand-alone) and INR12,000-16,000 crores (consolidated). NBCC expects a strong growth trajectory in profits over the next 3 years with projected PAT reaching approximately INR 2,000 crores by FY '27-'28.

From NBCC (India) Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Price

₹88.9

Market Cap

₹25.9K Cr

P/E Ratio

39.2

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NBCC (India) Ltd — 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.

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📊 Revenue & Sales Performance

→FY '25 revenue crossed INR15,000-16,000 crores; FY '26 guidance is INR11,000 crores (stand-alone) and INR12,000-16,000 crores (consolidated).
→Order inflows expected at INR20,000-25,000 crores for FY '26, with substantial new projects lined up including redevelopment, PMC, and state government projects.
→Execution visibility for the current order book (~INR120,000 crores) spans 3-4 years, ensuring steady revenue flow.
→Redevelopment projects and real estate ventures (e.g., Ghitorni project) set to scale up aggressively from FY '27 onwards, contributing significantly to revenues.
→Real estate business expected to achieve 25%+ EBITDA margins in the future, adding to profitability.
→Redevelopment opportunities in Delhi and Mumbai, including 105 colonies in Delhi and new MOUs in Mumbai, indicate sustained growth.
→Overall revenue and order book expected to increase year-on-year, with order book turnover and awards continually growing, aiming for exponential increase in coming years.

📈 Profitability & Margins

→NBCC expects a strong growth trajectory in profits over the next 3 years with projected PAT reaching approximately INR 2,000 crores by FY '27-'28.
→For FY '26, net profit is guided at INR 750-800 crores, with an increase to around INR 1,200 crores in FY '26-'27.
→Operating margins are anticipated to improve with revenue growth from INR 12,000 crores to about INR 15,000-16,000 crores, potentially pushing PAT margin beyond the current 5.4%.
→Real estate projects like Ghitorni and redevelopment projects are expected to significantly contribute to earnings, with real estate EBITDA margins targeted around 25%.
→Order inflows and execution visibility remain strong for 3-4 years, supporting consistent revenue and profit growth.
→The company anticipates an upward trend in order award sizes and profitability driven by both PMC and redevelopment sectors.
→EPS likely to improve in line with PAT growth, supported by expanding margins and scale.

See what NBCC (India) Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

→NBCC plans to start a real estate business in Dubai in the current year after obtaining necessary clearances from DIPAM, marking a strategic international expansion.
→They are developing real estate projects such as Ghitorni and Mehrauli, with expectations of significant profit margins, particularly targeting 25%+ EBITDA margins in real estate.
→Seed money in various projects stands at approximately INR668 crores as of March 31, 2025, indicating ongoing capital deployment.
→Redevelopment projects in Delhi (about 15 colonies initially out of 105), Mumbai (including MOU with MAHAPREIT for Thane and Mukhyamantri Awas Yojana), and other states are key areas of investment.
→NBCC expects order execution over a 3-4 year period and anticipated order inflows of INR20,000-25,000 crores for FY 2026, reflecting ongoing capital-intensive projects.

💰 Fundraising & Capital Structure

→There is no explicit mention of any current or future fundraising through debt or equity in the provided transcript from the NBCC (India) Limited May 30, 2025, document.
→The discussion mainly focuses on order inflows, revenue guidance, project execution timelines, exceptional items, write-offs, and project-specific updates.
→The company mentions managing cash flow carefully, with free cash of approximately INR400 crores after commitments as of March 31, 2025.
→Seed money available is INR668 crores as of March 31, 2025.
→There is no direct reference to plans or intentions to raise additional funds through debt or equity in the near future.

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

📋 Order Book & Pipeline

→Current consolidated order book is around INR 120,000 crores.
→Order book composition: approximately 48% PMC projects and 52% redevelopment projects.
→Around INR 32,000 crores worth of projects are already awarded and in execution.
→Expected to add INR 10,000 to 15,000 crores worth of new orders in the first two quarters of FY '26.
→Target for order inflow in FY '26 is INR 20,000 to 25,000 crores, primarily from redevelopment projects in Delhi, Goa, J&K, Telangana, Bihar, and other states.
→Execution timeline for PMC projects: 2-3 years; redevelopment projects: 3-4 years.
→Discussions underway for more redevelopment projects in Delhi (total 105 colonies with focus initially on 15-16) and other states.
→Mumbai redevelopment opportunity of around INR 25,000 crores in collaboration with MAHAPREIT is progressing.

Key Metrics

What NBCC (India) Ltd's management said in earlier quarters

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Frequently Asked Questions

What were NBCC (India) Ltd Q4 FY25 results?

What is NBCC (India) Ltd share price analysis?

NBCC (India) Ltd currently shows a neutral. The stock trades at a P/E of 39.2 with a market cap of ₹25,920 Cr. Investors should review the full earnings analysis for detailed insights.

Is NBCC (India) Ltd planning capital expenditure?

NBCC plans to start a real estate business in Dubai in the current year after obtaining necessary clearances from DIPAM, marking a strategic international expansion.

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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.