NBCC (India) Ltd(NBCC)

NSE: NBCCBSE: 534309

₹ 68.2-3.26%refreshed 23 Oct, 03:59 pm ISTMarket cap: ₹ 18,414 crNext results: 5 Nov 2026Website: www.nbccindia.comUpdated: 24 Oct 2026

About

NBCC (India) Ltd., established in 1960, is a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, operating as India's largest project management consultant for government redevelopment projects. It works across three verticals - Project Management Consultancy (PMC), Engineering Procurement and Construction (EPC), and Real Estate Development - and reported standalone revenue of ₹9,755 cr in FY26. With a consolidated order book of ₹1,26,964 cr as of Q1 FY27 and 32 regional offices covering 100+ cities, it is ranked 1st among CPSEs in the Construction and Consultancy segment.^[1]

Business segments

PMC (Project Management Consultancy) contributed 96.3% of standalone segment revenue in FY26, earning ₹12,375.1 cr with a 6.4% EBIT margin.^[2]
EPC contributed 3.0% of segment revenue in FY26 at ₹382.01 cr, with a 7.3% EBIT margin; EPC's share fell 8.3 percentage points over FY2018-FY2026.^[2]
Real Estate Development, where NBCC develops and sells properties on its own account, had consolidated segment revenue of ₹100.09 cr in FY26 vs ₹269.06 cr in FY25.^[1][3]
NBCC's operating model entrusts physical execution of projects to contractors (FY26).^[1]

Order book and inflows

Consolidated order book stood at ₹1,26,964 cr in Q1 FY27 (standalone ₹1,12,305 cr); mix is approximately 60% redevelopment and 40% PMC on a standalone basis.^[4]
Consolidated order book was ₹1,27,820 crore at March 31, 2026 vs ₹1,20,533 crore at March 31, 2025.^[1][3]
Of the consolidated order book, ₹33,241 cr was in running projects and ₹93,723 cr was yet to be awarded or started as of Q1 FY27.^[4]
New business secured in Q1 FY27 was ₹1,580 cr (consolidated); works awarded to contractors were ₹1,689 cr in the same quarter.^[4]
FY26 new business secured was ₹18,780 cr consolidated, led by NBCC standalone at ₹15,390 cr; contractor tender awards for FY26 totalled ₹11,546 cr consolidated.^[5]

Key operating numbers

Standalone EBITDA margin in Q1 FY27 was 8.77%, up from 5.96% in Q1 FY26, driven by marketing fees from the Bharat Business Park sale.^[4]
Consolidated EBITDA margin in Q1 FY27 was 6.86%, up from 4.66% in Q1 FY26.^[4]
Standalone EBITDA margin for FY26 was 5.5%; consolidated EBITDA margin was 4.8%.^[5]
Amrapali Phase 2 new FAR projects: 4,625 units sold in FY26 with sale value of approximately ₹9,366 cr.^[5]

Operations and reach

NBCC has 32 regional offices across India, covers 100+ cities through project execution, and has been active in international geographies since 1977.^[1]
The NBCC Group has 287 running projects, including overseas projects such as the Supreme Court Building in Mauritius, as of FY26.^[1]
NBCC had 1,150 regular employees as of March 31, 2026, including 122 women employees.^[1]
NBCC operates a debt-free, asset-light model, receiving client advances from ministries and departments at project outset to fund execution.^[1]

Subsidiaries

Key subsidiaries are HSCC (India) Ltd. (healthcare infrastructure), Hindustan Steelworks Construction Ltd. (steel plant construction) and NBCC Services Limited (facility management).^[1]
A Board-level Merger Committee was constituted to pursue the merger of HSCC into NBCC (FY26); the Ministry of Corporate Affairs approved the Scheme of Amalgamation on October 9, 2026.^[1][4]

Customers and distribution

NBCC's client base spans government ministries, public sector undertakings, educational institutions and state governments across India.^[1]
Major Q2 FY26 order wins included RIICO (₹3,136 cr) and Naveen Nagpur/NMRDA (₹2,966 cr).^[6]
NBCC's flagship overseas assignment is the USD 130 million, 2,000-unit social housing project at Hulhumalé, Maldives.^[1]
FY25 overseas pipeline included projects in Tashkent, Mainland Dubai, Iraq, Mauritius and UAE.^[3]

Expansion and new projects

Bharat Business Park commercial inventory under 7 GPRA projects was fully sold in three auctions within three months, generating ₹10,000 cr in Q1 FY27.^[4]
Sector 37-D Gurugram: contractor mobilised, test piling done; RERA registration and sales expected Q2/Q3 FY27, with projected topline of ₹2,300 cr.^[4]
Ghitorni 21.23-acre Delhi land (estimated revenue ₹8,500 cr): land dispute settled, ₹220 cr land premium paid; lease from GNCTD in progress.^[5]
Supertech: Supreme Court upheld NCLT order appointing NBCC to complete 16 stalled projects across 4 states (50,000 units, estimated topline ₹10,000 cr); tender to be finalised Q2 FY27.^[5]
Goa redevelopment, NBCC's first outside-Delhi redevelopment project, has four packages ordered and site mobilised as of Q1 FY27.^[4]
Board approved a wholly-owned SPV to sponsor a proposed first CPSE national REIT.^[4]
FY26 plan: vacant, underutilised and unutilised PSU land parcels to be developed on a self-sustaining basis.^[1]
FY25: exploring diversification into energy, tourism infrastructure and data centres, including MoUs with C-DOT and RailTel.^[3]

Recent developments

October 9, 2026: Ministry of Corporate Affairs approved the HSCC (India) Limited into NBCC amalgamation scheme, dispensing with shareholder and creditor meetings.^[7]
October 1, 2026: NBCC received work orders totalling ₹28.78 cr, including ₹26.69 cr for the India International Cultural Centre at Gurugram.^[8]
April 2026: NBCC was engaged as PMC for 1,000 houses in Seychelles (₹620 cr contract).^[4]
April 2026: NBCC signed a PMC pact with Dubai-based BCD Global and set up a Dubai branch office with a land parcel acquired for a mixed-use development.^[5]
Amrapali Phase 1: all 24 projects completed as of Q1 FY27; Phase 2 (8,258 units) is under active construction.^[4]

Market Cap

₹18,414 Cr

High / Low

₹126 / 67

Stock P/E

24.8

Price / Book

6.1

Book Value

₹11

EPS

₹2.7

No. of Shares

270 Cr

ROCE

31.0%

ROE

26.2%

OPM

6.9%

Debt / Equity

0.00

Sales

₹12,889 Cr

Net Profit

₹742 Cr

Promoter holding

61.8%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials

NBCC (India) Ltd(NBCC)

About

Business segments

Order book and inflows

Key operating numbers

Operations and reach

Subsidiaries

Customers and distribution

Expansion and new projects

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

Product Segments

Corporate Actions