NBCC

NBCC (India) share price & financials

Price
₹97.25
Market cap
₹24.2k Cr
Sector
Construction
Calls analysed
7
Latest concall · Q1 FY27 · call held 12 Aug 2026

NBCC (India) Limited Q1 FY27

Revenue ₹1,823 cr +10%EBITDA ₹160 cr +62%EBITDA Margin 8.77% PAT ₹151 cr +32%

What went well

  • Standalone revenue from operations increased 10% YoY to INR 1,823 crores.
  • Standalone EBITDA grew 62% YoY to INR 160 crores, with margin expanding to 8.77%.
  • Standalone PAT increased 32% YoY to INR 151 crores.

What to watch

  • Consolidated revenue growth was impacted by the HSCC merger and foreclosure of a low-margin Maharashtra government project.
  • Significant delays in large projects like MAHAPREIT, J&K, and Supertech due to approvals and funding, impacting execution pace.
Read the full call →

What NBCC (India) Limited does

NBCC (India) Limited is a Government of India Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, established in 1960. It operates an asset-light, three-segment model: Project Management Consultancy (PMC) for government infrastructure such as hospitals, institutional buildings and border fencing; Engineering, Procurement and Construction (EPC); and Real Estate Development, where it redevelops government colonies and land parcels (e.g. GPRA colonies in Delhi) by self-financing construction through commercial sale/lease of part of the built-up area. It also undertakes overseas construction and PMC assignments and has entered international real estate through wholly-owned subsidiaries.

Segments

  • Project Management Consultancy (PMC)
  • Engineering, Procurement & Construction (EPC)
  • Real Estate Development
Consolidated running projects
33,497 (NBCC 28,621; HSCC 2,475; HSCL 2,126; NSL 275)
Total employees (standalone)
1,144
Employee mix
Engineers 750, Finance 128, Operative staff 148, HRM/Others 118
Years of experience / incorporated
65+ years (incorporated 1960)
Wholly/majority-owned subsidiaries
HSCC (India) Ltd (100%), Hindustan Steelworks Construction Ltd (51%), NBCC Services Ltd (100%), NBCC DWC-LLC (100%), NBCC Overseas Real Estate LLC (100%)
Ongoing overseas country presence
Dubai (UAE), Maldives, Mauritius, Seychelles
Founded 1960Headquarters New Delhi, IndiaEmployees 1,144 (2026-03-31) Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 2 delivered 7 missed 11 open
  • Consolidated Revenue FY25 delivered, diluted said Q2 FY25 Promised: 13,000 crores Q1 FY27: Historical target, no new update required.
  • Consolidated Revenue FY26 went quiet said Q2 FY25 Promised: 15,000 crores Q1 FY27: FY26 is complete, but final results were not discussed on the call. The target remains unverified.
  • Consolidated PAT FY28 revised down said Q4 FY25 Promised: 2,000 crores Q1 FY27: Revised down to INR 1,300-1,400 crores for FY28, with the INR 2,000 crore target pushed to FY29.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 5.5%, net profit up 17.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,446 2,809 4,644 2,391 2,914 +19%3,022 +8%4,560 −2%2,260 −5%
EBITDA100 144 291 110 104 +4%114 −21%287 −1%155 +41%
Net profit125 142 183 135 157 +26%197 +39%254 +39%158 +17%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −21.4% 1Y

₹80₹90₹100₹110₹120Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 16 Feb 2026Q1 FY27 — 12 Aug 2026

1Y: ₹105.52 on 10 Sept 2025 → ₹82.9. High ₹122.67 (2 Jan 2026), low ₹77.52 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−1.7%
12 Aug
Q3 FY26
+1.8%
16 Feb
Q2 FY26
+4.7%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 13.7% a year over 3 years, FY23 to FY26. Operating margin widened to 4.8%.

Year endingFY23FY24FY25FY26
Revenue₹8.8k Cr₹10.4k Cr₹12.0k Cr₹12.9k Cr
Operating profit₹339 Cr₹513 Cr₹627 Cr₹615 Cr
Operating margin3.9%4.9%5.2%4.8%
Interest₹1 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹5 Cr₹4 Cr₹7 Cr₹13 Cr
Net profit₹278 Cr₹414 Cr₹557 Cr₹743 Cr
Net margin3.2%4.0%4.6%5.8%
Cash from operations₹-374 Cr₹-6 Cr₹657 Cr₹439 Cr
Free cash flow₹-385 Cr₹-50 Cr₹338 Cr₹402 Cr
ROCE27.0%32.0%33.0%29.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹180 Cr₹180 Cr₹180 Cr₹180 Cr₹270 Cr₹270 Cr
Reserves₹1.5k Cr₹1.6k Cr₹1.8k Cr₹2.0k Cr₹2.4k Cr₹2.7k Cr
Borrowings₹1 Cr₹0 Cr₹0 Cr₹1 Cr₹0 Cr₹0 Cr
Other liabilities₹11.8k Cr₹11.7k Cr₹11.0k Cr₹10.5k Cr₹10.7k Cr₹13.3k Cr
Total liabilities₹13.4k Cr₹13.5k Cr₹12.9k Cr₹12.7k Cr₹13.4k Cr₹16.3k Cr
Fixed assets₹159 Cr₹175 Cr₹182 Cr₹185 Cr₹527 Cr₹614 Cr
Capital work in progress₹16 Cr₹2 Cr₹4 Cr₹12 Cr₹23 Cr₹38 Cr
Investments₹20 Cr₹18 Cr₹21 Cr₹276 Cr₹206 Cr₹19 Cr
Other assets₹13.2k Cr₹13.3k Cr₹12.7k Cr₹12.3k Cr₹12.6k Cr₹15.6k Cr
Total assets₹13.4k Cr₹13.5k Cr₹12.9k Cr₹12.7k Cr₹13.4k Cr₹16.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −0.22 pp while the public added +0.18 pp. The shareholder count shrank 12% to 12,26,689.

Promoters
61.8%
FIIs
4.8%
DIIs
11.3%
Public
22.2%

Since Jun 2025

  • FIIs −0.22 pp
  • Public +0.18 pp
  • DIIs +0.05 pp

How it drifted, 12 quarters

Over this window the public fell from 23.9% to 22.2% — −1.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 61.8%, FIIs 4.1%, DIIs 10.2%, Public 23.9%.Dec '23: Promoters 61.8%, FIIs 4.5%, DIIs 10.4%, Public 23.4%.Mar '24: Promoters 61.8%, FIIs 4.3%, DIIs 9.9%, Public 24.0%.Jun '24: Promoters 61.8%, FIIs 4.4%, DIIs 9.5%, Public 24.4%.Sep '24: Promoters 61.8%, FIIs 4.1%, DIIs 9.1%, Public 25.0%.Dec '24: Promoters 61.8%, FIIs 4.2%, DIIs 8.9%, Public 25.1%.Mar '25: Promoters 61.8%, FIIs 4.2%, DIIs 8.9%, Public 25.1%.Jun '25: Promoters 61.8%, FIIs 5.0%, DIIs 11.2%, Public 22.0%.Sep '25: Promoters 61.8%, FIIs 5.3%, DIIs 11.0%, Public 21.9%.Dec '25: Promoters 61.8%, FIIs 5.2%, DIIs 12.3%, Public 20.8%.Mar '26: Promoters 61.8%, FIIs 5.0%, DIIs 10.8%, Public 22.5%.Jun '26: Promoters 61.8%, FIIs 4.8%, DIIs 11.3%, Public 22.2%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of NBCC (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
President Of India 61.75%unchanged
Life Insurance Corporation Of India Insurer4.50%unchanged
Cpse Exchange Traded Scheme (Cpse ETF) Mutual fund1.23%unchanged
Quant Mutual Fund - Quant Small Cap Fund Mutual fund1.06%−1.05 pp

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in NBCC

Filings to Aug 2026

0 new, 5 added, 3 trimmed, 0 sold out — net −46.56 L shares (−8.7%).

Held by funds
₹427 Cr
10 schemes
Biggest holder
CPSE ETF
₹254 Cr · 1.3% of that fund
SchemeHoldingLast month
CPSE ETF Nippon India Mutual Fund₹254 Cr+0.33 L
SBI Arbitrage Fund SBI Mutual Fund₹92 Cr−5.39 L
HDFC Arbitrage Fund HDFC Mutual Fund₹22 Cr−41.80 L
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹18 Crheld
Nippon India Arbitrage Fund Nippon India Mutual Fund₹18 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹14 Cr+0.20 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹7 Cr+0.09 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 3 trimmed — net −46.56 L shares (−8.7%)

Funds are sitting on
+74%
vs est. average cost
Held by funds
₹427 Cr
10 schemes · ≈ 2.0% of the company
Biggest holder
CPSE ETF
₹254 Cr · 1.3% of that fund

Shares held by these funds −33%

Aug '23 4.96 cr shares Jul '26

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse NBCC (India) Limited

Guides on how to read this kind of business and the numbers that matter.