National Buildings Construction Corporation's Q3 net profit up 57%
Feb 12, 2014
Source : The Times of India

 

DELHI: National Buildings Construction Corporation Limited (NBCC), a Mini-ratna company, reported 57% increase in its net profit at Rs 56.6 crore during the third quarter compared to net profit of Rs 36.04 crore for the corresponding period in the previous year. The income from operations increased by 39.65% to Rs 1,000.23 crore during October-December quarter of the 2013-14 fiscal year.

NBCC CMD Anoop Kumar Mittal said business outlook appeared bright as the company's order book read Rs 16,000 crore. "As of now, project management consultancy has been contributing the most to our revenue generation which is almost 80%. However, we are now planning to increase the share of our real estate segment to 30% from the meagre 15% in the current fiscal," he added.

NBCC has plans to aggressively tap the real estate market by constructing residential and commercial projects in every state and major cities. Mittal said the company was developing residential as well as commercial properties in Delhi-NCR, metro cities and also in tier-II cities such as Bhubaneswar, Meerut, Faridabad, Kochi and Patna.

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