Any current/future new fundraising through debt or equity?

There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript. The company has received loans from SBICAP and a consortium of seven banks for the Amrapali project, but this appears to be existing funding rather than new fundraising. The focus is on completing ongoing projects and increasing turnover and profit without highlighting any new debt or equity issuance. Management mentions bright future prospects and improving financials but does not indicate plans for raising new capital via debt or equity in the near term.

Any current/future capex/capital investment/strategic investment?

NBCC holds land banks worth INR619 crores planned for development in coming years. Initial development planned in Patna, followed by Coimbatore and Jaipur. Redevelopment projects with state and central governments are actively pursued, leveraging government interest since they avoid direct funding. International projects include social housing construction in Maldives (INR1,000 crores), Mauritius, Zambia (mass housing), Seychelles, Burundi, and Jeddah (Ministry of External Affairs Chancery Building). Additional business of INR7,000-8,000 crores planned for construction of additional Floor Area

Future growth expectations in sales/revenue/volumes?

FY '24 stand-alone revenue target: INR 9,000 crores FY '24 consolidated revenue target: INR 11,500 crores Order inflow in FY '23 (consolidated): INR 6,500 crores Ongoing work as of March '23: INR 20,000 crores (stand-alone) Plan to award new projects in FY '24: INR 10,000 - 12,000 crores Real estate inventory for FY '24 projection: INR 250 crores (own), INR 6,000 crores (Ministry redevelopment projects) Bright future expected due to resolved project issues, no exceptional future items anticipated Seven new real estate markets and redevelopment projects expected to drive growth

Future growth expectations in earnings/operating earnings/profits/EPS?

Profit before tax and turnover expected to be substantially higher in the coming financial year compared to the current year, with no anticipated exceptional items. FY24 stand-alone revenue target is around INR 9,000 crores; consolidated revenue guidance is INR 11,500 crores. EBITDA margin expected to improve to approximately 5%, with PAT margins around 4% to 4.15%. Improved margins are expected due to economies of scale and fixed costs being spread over higher revenue. Redevelopment projects, especially with state and central government focus, are driving growth prospects. Order int

Current/ Expected Orderbook/ Pending Orders?

As of March 2023, NBCC's total order book stands at INR45,000 crores (stand-alone basis). On a consolidated basis, the order book is INR54,200 crores. Approximately 50% of the order book is redevelopment projects; the other 50% is PMC and EPC projects. For consolidated order book, redevelopment constitutes about 40%, with 60% being PMC. Ongoing works are valued at INR20,000 crores. NBCC received new orders worth INR6,500 crores during FY 2023 (consolidated). Project awards planned for FY 2024 are between INR10,000 crores and INR12,000 crores. Order backlog includes major projects such as socia

NBCC (India) LtdQ4 FY23Construction

NBCC (India) Ltd Q4 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹71.95P/E: 28.4Market Cap: ₹19.4K CrSector: Construction

Management growth scorecard

Revenue

Category 2

Margin

Category 2

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

FY '24 stand-alone revenue target: INR 9,000 crores
FY '24 consolidated revenue target: INR 11,500 crores
Order inflow in FY '23 (consolidated): INR 6,500 crores
Ongoing work as of March '23: INR 20,000 crores (stand-alone)
Plan to award new projects in FY '24: INR 10,000 - 12,000 crores
Real estate inventory for FY '24 projection: INR 250 crores (own), INR 6,000 crores (Ministry redevelopment projects)
Bright future expected due to resolved project issues, no exceptional future items anticipated
Seven new real estate markets and redevelopment projects expected to drive growth
Significant commercial project sales and bulk sales planned (e.g., Sarojini Nagar, World Trade Center)
EBITDA margin expected to improve around 5%, PAT margin approximately 4% to 4.15%

Margin guidance

Category 2

Profit before tax and turnover expected to be substantially higher in the coming financial year compared to the current year, with no anticipated exceptional items.
FY24 stand-alone revenue target is around INR 9,000 crores; consolidated revenue guidance is INR 11,500 crores.
EBITDA margin expected to improve to approximately 5%, with PAT margins around 4% to 4.15%.
Improved margins are expected due to economies of scale and fixed costs being spread over higher revenue.
Redevelopment projects, especially with state and central government focus, are driving growth prospects.
Order intake on consolidated basis for FY23 was INR 6,500 crores; planned order awards in FY24 are INR 10,000 to 12,000 crores.
Management signals a "very bright future" post-pandemic with growth in seven real estate markets and redevelopment opportunities.

See what NBCC (India) Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript.
The company has received loans from SBICAP and a consortium of seven banks for the Amrapali project, but this appears to be existing funding rather than new fundraising.
The focus is on completing ongoing projects and increasing turnover and profit without highlighting any new debt or equity issuance.
Management mentions bright future prospects and improving financials but does not indicate plans for raising new capital via debt or equity in the near term.

Order book

Yes

As of March 2023, NBCC's total order book stands at INR45,000 crores (stand-alone basis).
On a consolidated basis, the order book is INR54,200 crores.
Approximately 50% of the order book is redevelopment projects; the other 50% is PMC and EPC projects.
For consolidated order book, redevelopment constitutes about 40%, with 60% being PMC.
Ongoing works are valued at INR20,000 crores.
NBCC received new orders worth INR6,500 crores during FY 2023 (consolidated).
Project awards planned for FY 2024 are between INR10,000 crores and INR12,000 crores.
Order backlog includes major projects such as social housings in Maldives (INR1,000 crores) and international projects in Mauritius, Zambia, Seychelles, Burundi, and Jeddah in the pipeline.

See what NBCC (India) Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

NBCC holds land banks worth INR619 crores planned for development in coming years.
Initial development planned in Patna, followed by Coimbatore and Jaipur.
Redevelopment projects with state and central governments are actively pursued, leveraging government interest since they avoid direct funding.
International projects include social housing construction in Maldives (INR1,000 crores), Mauritius, Zambia (mass housing), Seychelles, Burundi, and Jeddah (Ministry of External Affairs Chancery Building).
Additional business of INR7,000-8,000 crores planned for construction of additional Floor Area Ratio (FAR) in existing projects like Amrapali.
Four tenders worth around INR4,000 crores in pipeline under 7 GPRA, not included in INR20,000 crores ongoing work.
Targeting INR10,000-12,000 crores worth of project awards in FY24, indicating capital deployment into new projects.

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NBCC (India) Ltd Q4 FY23 Earnings Call Analysis

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