NBCC (India) Limited is a **Government of India Navratna Enterprise** operating under the Ministry of Housing and Urban Affairs. The company was formerly known as National Buildings Construction Corporation Limited and changed its name to NBCC (India) Limited in May 2016. NBCC (India) Limited was incorporated in **1960** and is headquartered in New Delhi, India.
The company operates in three major segments: **Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC), and Real Estate**. This diversified business model has established NBCC as a prominent player in India's infrastructure and construction sector, with operations spanning both domestic and international markets.
The Project Management Consultancy segment contributed **91% of revenue in 9M FY25** (versus 92% in FY22). Under this segment, the company undertakes civil construction projects, including residential, commercial, and government redevelopment. It also handles national security infrastructure like border fencing and civil infrastructure, including roads and water systems, and executes projects under PMGSY and North Eastern development initiatives.
Its extensive clientele includes the Ministry of Defense, Ministry of Home Affairs, Ministry of Finance, Central Universities, IITs, IIMs, AIIMs, Govt of Haryana, Govt of Rajasthan, Govt of Maharashtra, etc. The PMC segment's services encompass tasks such as geotechnical investigations, topographical surveys, resource planning, detailed engineering design, execution supervision, and other related activities.
The EPC segment focuses on the construction, manufacturing, and development of assets on behalf of customers. EPC offers comprehensive services, including project conceptualization, feasibility studies, detailed project reports, basic and detailed engineering, procurement, construction, commissioning, testing, and handing over projects to clients in a ready-to-use and functional condition.
The Real Estate segment involves the sale of property, sale of additional parking slots, maintenance services, and other real estate-related services. This segment includes residential projects such as apartments and townships, and commercial projects like corporate office buildings and shopping malls.
The company demonstrated strong financial health in its latest report for the quarter ending March 31, 2025, with a total revenue of **₹4,643 Crore** and a net profit of **₹175.92 Crore**, representing a **29.28% year-over-year increase**.
* The revenue for December 2024 was **₹2,882 Crore**, compared to September 2024 revenue of ₹2,526 Crore, marking a growth of 14.1%.
* The net profit for December 2024 was **₹142.43 Crore**, compared to September 2024 net profit of ₹125.13 Crore, representing a growth of 13.83%.
NBCC (India) Ltd has a market capitalization of **₹32,940 Crore** (as of latest data) and **₹33,197 Crore as of June 30, 2025**.
* The **P/B ratio** of NBCC (India) Ltd is **13.39 times as of June 30, 2025**, which is a 362% premium to its peers' median range of 2.90 times.
* The **P/E ratio** of NBCC (India) Ltd is **61.35 times as of June 30, 2025**, representing a 109% premium to its peers' median range of 29.29 times.
* **Revenue (TTM):** ₹12,039 Crore (as per latest consolidated results)
* **Net Profit (TTM):** ₹557 Crore
* **EPS (TTM):** ₹1.86
* **Return on Equity (FY24):** 23.01%
* **Promoter Holding:** 61.75% (as of March 2025)
The Government of India granted the status of a **'Navratna Company' to NBCC** with effect from June 23, 2014. This prestigious status made NBCC eligible to invest up to ₹1,000 Crore without requiring explicit government approval. The promoter of NBCC (India) Ltd is the **President of India**, who owns 61.75% of the total equity.
NBCC has recently been awarded **₹65.73 Crore work orders** for PMC and construction projects from reputed domestic clients. Additionally, it secured a **₹354.88 Crore project management contract for African Zoo** and allied facilities. NBCC also signed an MoU with NFDC to renovate Siri Fort Auditorium, managing end-to-end project execution.
In 2021, NBCC's order book held projects worth **₹60,000 Crore**. The company has recently secured several significant contracts, indicating healthy business momentum and a strong order book for the future.
In **1977**, NBCC began working on international construction and infrastructure projects in the Middle East and African countries. The company has been involved in the construction of the National Prison Academy in Maldives, the Supreme Court building and Social Housing project in Mauritius, Mahatma Gandhi International Convention Centres in 9 African countries, and the India Pavilion at the Expo 2020.
NBCC acquired a **100% stake in Mini Ratna hospital consultancy firm Hospital Services Consultancy Corporation Limited (HSCC)** from the Ministry of Health and Family Welfare on November 6, 2018. The organization also acquired over **51% stake in Hindustan Steelworks Construction Limited (HSCL)**, a PSU under the Ministry of Steel, in 2017.
Analyst ratings from June 2025 suggest a **'Hold' consensus** with a target price of **₹143**, indicating a cautious outlook. Key strengths supporting NBCC's future include its nearly debt-free status and a strong track record of securing significant government contracts, bolstering its order book.
The future outlook for NBCC (India) Ltd. is anchored by strong operational performance and a robust project pipeline, though its high valuation warrants caution. Investors should note the stock's high valuation, with a **P/E ratio of 61.6 as of June 2025**, suggesting the price is high relative to its earnings.
NBCC (India) Limited represents a significant player in India's infrastructure development sector, backed by strong government support and a diversified business model. While the company demonstrates robust financial performance and growth prospects, investors should carefully consider the premium valuation levels when making investment decisions. The company's strategic position as a Navratna PSU and its expanding order book provide solid foundations for future growth, making it an important consideration for infrastructure-focused investment portfolios.```
