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NCC Ltd

Q4 FY25Construction

NCC Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹150
Market cap₹9.0K Cr
P/E12.9
Updated23 Aug 2026
Read4 min read

The short version

FY '26 revenue growth guidance is 10%, up from 5% growth in FY '25. NCC Limited expects revenue growth of 10% for FY '26, an improvement from the 5% growth in FY '25.

From NCC Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • FY '26 revenue growth guidance is 10%, up from 5% growth in FY '25.
  • Order inflow guidance for FY '26 is robust at INR 22,000 to 25,000 crores.
  • Healthy project pipeline with a prospective pipeline of about INR 2.55 lakh crores.
  • Expect stronger growth in FY '27 due to ramp-up of projects like GMLR and AP state capital orders.
  • Execution expected to improve in the second half of FY '26 as recently awarded projects mobilize.
  • Growth constrained by client payment timelines and project mobilization delays.

2 more points management made on revenue & sales performance

Profitability & Margins

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

Capital Expenditure Plans

  • Capex for FY '26 is planned at INR 750 crores (stand-alone basis).
  • In FY '25, capex incurred was INR 305 crores, including investment in TBM for Mumbai tunneling (around INR 300 crores).
  • Total strategic investment of INR 280 crores planned for smart meter projects in FY '26 and FY '27.
  • Approximately INR 130 crores of this smart meter investment expected by Q2 FY '26; the balance depends on progress and financial closures.
  • Currently, smart meter investment is entirely funded by NCC Limited, with ongoing search for partners.
  • Additional investments include a new LLP for producing specialized concrete girders.

2 more points management made on capital expenditure plans

Top-ranked in Construction

Ranked on what management guided this quarter

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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

Order Book & Pipeline

  • Order book as of March 31, 2025: INR 71,568 crores (highest ever for NCC).
  • Beginning of FY '25 order book: INR 60,437 crores.
  • Orders received during FY '25: INR 32,888 crores (highest single-year order inflow).
  • Orders executed in FY '25: INR 21,756 crores.
  • Stand-alone order inflow FY '25: INR 29,588 crores.
  • L1 (likely to convert) orders currently about INR 7,000 to 8,000 crores.
  • BSNL Phase 2 order: total INR 10,800 crores; INR 7,100 crores included in order book.
  • Andhra Pradesh capital city projects order on hand: around INR 9,000 to 9,500 crores.
  • Future order inflow guidance FY '26: INR 22,000 to 25,000 crores (includes L1).

2 more points management made on order book & pipeline

NCC 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 ₹6.2K Cr, net profit ₹217 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What NCC's management said in earlier quarters

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Frequently Asked Questions

What were NCC Ltd Q4 FY25 results?

FY '26 revenue growth guidance is 10%, up from 5% growth in FY '25. NCC Limited expects revenue growth of 10% for FY '26, an improvement from the 5% growth in FY '25.

What is NCC Ltd share price analysis?

NCC Ltd currently shows a neutral. The stock trades at a P/E of 12.9 with a market cap of ₹9,014 Cr. Investors should review the full earnings analysis for detailed insights.

Is NCC Ltd planning capital expenditure?

Capex for FY '26 is planned at INR 750 crores (stand-alone basis).

Keep NCC Ltd on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.