November 10, 2023: NBCC, India’s state-run developer, on November 9 said its profit after tax (PAT) jumped by nearly 73% during the fist half of the current fiscal (H1FY24). During its board of directors meeting held on November 9, the company approved the financial results for the quarter and half year ended September 30, 2023.
The company reported PAT of Rs 148.40 crore on a standalone basis and Rs 159.31 crore on a consolidated basis for the half year, showcasing a jump of 72.08% and 71.52%, respectively, on year-on-year (YOY) basis.
According to the statement, at Rs 187.75. crore, NBCC’s standalone profit before tax (PBT) jumped by 65.81 % on an annual basis. Similarly, its consolidated PBT increased 65.76% YoY at Rs 208.56 crore.
A preferred partner of the government for infrastructure projects, NBCC’s 93.22% of business revenue comes from the PMC segment and redevelopment works on consolidated basis.
Engaged in project management consultancy and real estate development, NBCC also plans to explore business opportunities in Saudi Arabia as part of its expansion plan. “In a bid to expand its footprints in the global arena, NBCC (India), a Navratna PSU, is actively exploring business opportunities in the Kingdom of Saudi Arabia,” it said in the statement.
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