NBCC (India) Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹19,429 Cr
- P/E
- 28.39
- ROE
- 20.40%
- PEG
- 2.13
- Price to sales
- 1.54
- Debt to equity
- 0.00
- 52W high / low
- ₹123 / ₹67.9
- Sales growth (5Y)
- 13.14%
- EBITDA margin
- 5.18%
- Net profit margin
- 4.49%
- Promoter holding
- 61.75%
- Sales (last year)
- ₹12,756 Cr
NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The Co. operates in three major segments - Project Management Consultancy, Engineering Procurement & Construction, and Real Estate. [1]
Guidance scorecard · Q1 FY27 call
What NBCC (India) Ltd's management guided
and where it ranks in Construction
Construction
RevenueQ1 FY27 call
10–20%- FY27 revenue guidance: INR 16,000 to 17,000 crore consolidated, with confidence in achieving this target despite challenges like GRAP restrictions.
- FY28 revenue expected to rise to around INR 21,000 crore.
- FY29 projected revenue: INR 24,000 to 25,000 crore consolidated.
- Standalone revenue targets: INR 13,000 to 14,000 crore for FY27, growing to INR 21,000 crore in FY28 and INR 24,000-25,000 crore in FY29.
- Profit after tax (PAT) expected to grow from around INR 1,100-1,200 crore in FY27 to INR 1,300-1,400 crore in FY28 and approximately INR 2,000 crore in FY29.
- Order book currently around INR 1,27,000 crore with expected new order inflow of INR 50,000-60,000 crore this year from GPRA and other large projects.
2 more points from NBCC (India) Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what NBCC (India) Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- NBCC is constructing around 66 housing units in Dubai, with all designs and approvals obtained; construction tender planned for October.
- Investment in redevelopment projects with approximately INR 10,000 crore of balance work expected to be executed within two years.
- Planned infrastructure development at Naveen Nagpur with ongoing DPR approval; infrastructure tender expected this or next quarter.
- Working on redevelopment projects including large value projects like MAHAPREIT (INR 25,000 crore) and J&K (INR 3,500-4,000 crore), with tenders to be floated soon.
- Formation of wholly owned subsidiary as an SPV to transfer assets and launch a national CPSE REIT for efficient asset monetisation; initial asset transfer involves 75,000 sq.ft. rentable assets.
2 more points from NBCC (India) Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what NBCC (India) Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current order book stands at approximately INR 1,27,000 crore.
- Split of order book: 60% redevelopment projects, 40% PMC (Project Management Consultancy).
- Expected new orders of INR 50,000 to 60,000 crore in the current year.
- Pending project awards of nearly INR 95,000 crore due to various approvals and statutory clearances.
- Redevelopment projects involve self-sustainable models requiring multiple government approvals.
- MAHAPREIT order (around INR 25,000 crore) is delayed due to pending approvals; expected resolution by Q3 FY27.
2 more points from NBCC (India) Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Construction
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,531 Cr | 11.7 | |
| 2 | 40%+ | Flat | ₹1,089 Cr | 9.3 | |
| 3 | 40%+ | Flat | ₹898 Cr | 7.6 | |
| 4 | 40%+ | Flat | ₹807 Cr | 14.7 | |
| 5 | 40%+ | Flat | ₹554 Cr | 13.1 | |
| 6 | 40%+ | Flat | ₹516 Cr | 30.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Construction rankingFinancials of NBCC (India) Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of NBCC (India) Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,813 | 1,918 | 2,059 | 2,424 | 3,996 | 2,143 | 2,446 | 2,809 | 4,644 | 2,391 | 2,914 | 3,022 | 4,560 |
| Expenses + | 2,709 | 1,861 | 1,963 | 2,306 | 3,753 | 2,051 | 2,346 | 2,665 | 4,353 | 2,281 | 2,809 | 2,909 | 4,273 |
| Operating Profit | 104 | 57 | 96 | 117 | 243 | 92 | 100 | 144 | 291 | 110 | 104 | 114 | 287 |
| OPM % | 4% | 3% | 5% | 5% | 6% | 4% | 4% | 5% | 6% | 5% | 4% | 4% | 6% |
| Other Income + | 48 | 48 | 11 | 36 | -44 | 54 | 67 | 54 | -39 | 74 | 103 | 152 | 59 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 4 |
| Profit before tax | 151 | 104 | 105 | 152 | 198 | 144 | 166 | 196 | 249 | 181 | 205 | 263 | 342 |
| Tax % | 25% | 25% | 22% | 25% | 28% | 25% | 25% | 27% | 27% | 26% | 23% | 25% | 26% |
| Net Profit + | 114 | 77 | 82 | 114 | 141 | 107 | 125 | 142 | 183 | 135 | 157 | 197 | 254 |
| EPS in Rs | 0.40 | 0.28 | 0.29 | 0.41 | 0.50 | 0.39 | 0.45 | 0.51 | 0.65 | 0.49 | 0.57 | 0.71 | 0.89 |
Financials of NBCC (India) Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4,394 | 5,826 | 7,425 | 8,447 | 9,943 | 8,087 | 6,953 | 7,691 | 8,876 | 10,407 | 12,039 | 12,889 |
| Expenses + | 4,105 | 5,510 | 7,017 | 7,992 | 9,574 | 7,982 | 6,821 | 7,483 | 8,532 | 9,890 | 11,409 | 12,272 |
| Operating Profit | 289 | 317 | 408 | 455 | 369 | 105 | 133 | 207 | 345 | 517 | 629 | 617 |
| OPM % | 7% | 5% | 5% | 5% | 4% | 1% | 2% | 3% | 4% | 5% | 5% | 5% |
| Other Income + | 147 | 98 | 84 | 163 | 207 | 207 | 180 | 121 | 38 | 51 | 138 | 388 |
| Interest | 41 | 3 | 31 | 28 | 3 | 8 | 15 | 9 | 6 | 4 | 5 | 0 |
| Depreciation | 2 | 2 | 5 | 6 | 4 | 6 | 6 | 5 | 5 | 5 | 7 | 13 |
| Profit before tax | 393 | 409 | 454 | 584 | 569 | 297 | 292 | 315 | 372 | 559 | 755 | 991 |
| Tax % | 29% | 29% | 28% | 32% | 31% | 66% | 18% | 24% | 25% | 26% | 26% | 25% |
| Net Profit + | 278 | 289 | 326 | 396 | 392 | 100 | 240 | 238 | 278 | 414 | 557 | 742 |
| EPS in Rs | 1.03 | 1.07 | 1.31 | 1.40 | 1.39 | 0.29 | 0.84 | 0.83 | 0.99 | 1.49 | 2.00 | 2.67 |
| Dividend Payout % | 24% | 41% | 41% | 26% | 31% | 31% | 37% | 40% | 36% | 28% | 33% | 38% |
Financials of NBCC (India) Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 120 | 120 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 270 | 270 |
| Reserves | 1,218 | 1,421 | 1,514 | 1,886 | 1,328 | 1,270 | 1,463 | 1,588 | 1,764 | 2,046 | 2,209 | 2,747 |
| Borrowings + | 0 | 12 | 6 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 0 |
| Other Liabilities + | 3,426 | 3,906 | 6,366 | 10,202 | 11,592 | 11,080 | 11,778 | 11,715 | 10,968 | 10,513 | 11,208 | 13,256 |
| Total Liabilities | 4,764 | 5,459 | 8,066 | 12,269 | 13,101 | 12,531 | 13,422 | 13,483 | 12,913 | 12,739 | 13,688 | 16,274 |
| Fixed Assets + | 26 | 62 | 123 | 129 | 182 | 165 | 159 | 175 | 182 | 185 | 531 | 614 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 2 | 4 | 12 | 4 | 38 |
| Investments | 146 | 236 | 74 | 28 | 42 | 28 | 20 | 18 | 21 | 276 | 265 | 19 |
| Other Assets + | 4,592 | 5,161 | 7,868 | 12,111 | 12,876 | 12,337 | 13,227 | 13,287 | 12,705 | 12,266 | 12,887 | 15,603 |
| Total Assets | 4,764 | 5,459 | 8,066 | 12,269 | 13,101 | 12,531 | 13,422 | 13,483 | 12,913 | 12,739 | 13,688 | 16,274 |
Financials of NBCC (India) Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -155 | 176 | 605 | 907 | 638 | 113 | 456 | 80 | -374 | -6 | 657 | 439 |
| Cash from Investing Activity + | -2 | -36 | 282 | -474 | -209 | 88 | 151 | 33 | 272 | -184 | 573 | 250 |
| Cash from Financing Activity + | -70 | -84 | -502 | -247 | -150 | -160 | -41 | -95 | -90 | -103 | -269 | -201 |
| Net Cash Flow | -227 | 56 | 385 | 185 | 279 | 41 | 567 | 19 | -192 | -293 | 961 | 489 |
| Free Cash Flow | -161 | 152 | 591 | 902 | 633 | 130 | 454 | 74 | -385 | -50 | 338 | 402 |
| CFO/OP | -37% | 80% | 168% | 228% | 208% | 135% | 356% | 44% | -105% | 1% | 107% | 85% |
Financials of NBCC (India) Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 142 | 115 | 126 | 115 | 90 | 84 | 109 | 96 | 82 | 102 | 93 | 144 |
| Inventory Days | 38 | |||||||||||
| Days Payable | 200 | |||||||||||
| Cash Conversion Cycle | 142 | 115 | 126 | 115 | 90 | 84 | 109 | 96 | 82 | 102 | 93 | -18 |
| Working Capital Days | 7 | -1 | -30 | -122 | -149 | -235 | -285 | -241 | -190 | -123 | -122 | -120 |
| ROCE % | 35% | 28% | 32% | 29% | 30% | 18% | 18% | 21% | 27% | 32% | 33% | 31% |
Guidance history
How NBCC (India) Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | Planned | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 20–40% | Up 2%+ | Planned | None planned | Rising |
| Q1 FY26 call → | 20–40% | Up 0–2% | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
7 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −37.6% | 14% |
| Last 6 months | −21.5% | 16% |
| Last 3 months | −23.1% | 11% |
The price is 43.7% below its all-time high of ₹127.7 (6 Jun 2025). Stocks more than 20% below their peak have their score halved, so 14 became 7.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For NBCC (India) Ltd: 0.4 × 14 + 0.4 × 16 + 0.2 × 11 = 14, halved to 7 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What NBCC (India) Ltd's management said in earlier quarters
- Q4 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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