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NBCC (India)

NBCC NSE
₹77.74 +2.48 (+3.30%)
P/E
28.37
View as Markdown
MCP
Close 4 Nov 2026 ₹77.74 −33.70 −30.2% 1Y
Start ₹111.44

Key Fundamentals

SmallcapConstructionIndustrials

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
29.30%
Debt to Equity
0.00
EPS (TTM)
₹2.74
Book Value
₹11.18
Market Cap
—
P/E (TTM)
28.37
P/B
6.95
ROE
20.40%
Dividend Yield
0.20%
EBITDA
₹924 Cr
52W High
₹125.85
52W Low
₹67.02
Day Range
₹74.44 – ₹77.99
Volume
96,18,624

Peer Comparison

Industrials › Construction › Civil Construction

NBCC peer comparison
L&T
₹3,944.4030.37₹5,47,193 Cr4.800.96%15.90%14.60%₹3,00,904 Cr₹20,895 Cr
Rail Vikas Nigam
₹191.2344.37₹39,292 Cr4.060.93%9.02%10.80%₹20,825 Cr₹897 Cr
Cemindia Projects
₹1,310.1037.40₹23,549 Cr6.360.24%27.80%32.80%₹10,205 Cr₹602 Cr
Kalpataru Projects International
₹1,366.1020.52₹22,726 Cr3.000.83%13.70%18.30%₹27,380 Cr₹1,129 Cr
NBCC (this company)
₹77.7428.37₹20,666 Cr6.950.20%20.40%29.30%₹12,756 Cr₹766 Cr
IRB Infrastructure Developers
₹16.7921.25₹19,929 Cr0.940.31%4.29%7.47%₹7,686 Cr₹954 Cr
Engineers India
₹300.8521.55₹16,653 Cr5.060.52%23.40%30.40%₹3,878 Cr₹784 Cr
Median 7 companies₹300.8528.37₹22,726 Cr4.800.52%15.90%18.30%₹12,756 Cr₹897 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

42 Weak

Data confidence 98/100

Category scores

Quality
56
Good
Returns, margins, earnings quality 22% weight
Valuation
71
Strong
Cheap vs sector & own history 24% weight
Growth
16
Poor
Sales & profit trajectory 9% weight
Financial Health
40
Weak
Solvency, leverage, coverage 9% weight
Momentum
12
Poor
Trend strength, vol-adjusted 12% weight
Ownership
29
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 33.1%

Weaknesses

2
  • Earnings include an other income of Rs.376 Cr.
  • Debtor days have increased from 113 to 144 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish937
OscillatorsNeutral333
Moving AveragesStrong Bearish604

Key readings

RSI (14)
55.31
Neutral
MACD (12,26,9)
−1.59
Bullish
SMA (50)
79.45
Bearish
SMA (200)
91.52
Bearish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+8.26%
5Y+13.14%
3Y+13.24%
1Y+7.02%
TTM+3.79%

Net profit

Net profit growth by window
10Y+9.89%
5Y+25.33%
3Y+38.71%
1Y+33.21%
TTM+30.94%

Operating cash flow

Operating cash flow growth by window
10Y+9.57%
5Y−0.76%
3YTurned positive
1Y−33.59%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−0.64 pp
5Y+2.89 pp
3Y+0.91 pp
1Y−0.47 pp
TTM−0.08 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹7,425 Cr
Mar 2018₹8,447 Cr
Mar 2019₹9,943 Cr
Mar 2020₹8,087 Cr
Mar 2021₹6,953 Cr
Mar 2022₹7,691 Cr
Mar 2023₹8,876 Cr
Mar 2024₹10,407 Cr
Mar 2025₹12,044 Cr
Mar 2026₹12,889 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹326 Cr
Mar 2018₹396 Cr
Mar 2019₹392 Cr
Mar 2020₹100 Cr
Mar 2021₹240 Cr
Mar 2022₹238 Cr
Mar 2023₹278 Cr
Mar 2024₹414 Cr
Mar 2025₹557 Cr
Mar 2026₹742 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹816 Cr −11.7% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk high

NBCC (India) Ltd trades at ₹76.13 as of 2026-11-02 with a market cap of ₹19,653 Cr, a PE (TTM) of 27.78, and a debt-to-equity ratio of 0. The stock is down roughly 40% from its 52-week high of ₹125.85 while maintaining a return on equity of 23.09% and a return on capital employed of 29.73%.

Bull Case 7
  • The company is virtually debt-free with a debt-to-equity ratio of 0, providing significant financial flexibility and resilience against interest-rate cycles.
  • ROCE stands at 29.73% and ROE at 23.09% as of the latest period, indicating efficient capital deployment relative to many construction-sector peers.
  • Compounded profit growth over 5 years is 20%, demonstrating a sustained earnings expansion trajectory over a meaningful period.
  • 3-year compounded sales and profit growth are both at 13%, showing consistent top-line and bottom-line expansion in the medium term.
  • 10-year average ROE of 20% reflects a structurally profitable business model sustained across multiple economic cycles.
  • The company maintains a healthy dividend payout ratio of 33.1%, returning a meaningful portion of earnings to shareholders even while growing.
  • 5-year stock CAGR of 19% indicates that long-term shareholders have experienced meaningful wealth creation despite recent declines.
Bear Case 8
  • The stock has fallen roughly 40% from its 52-week high of ₹125.85 to ₹76.13, and the 1-year stock CAGR is -32%, signalling sharp negative momentum.
  • Debtor days have increased from 113 to 144 days, indicating a significant deterioration in working-capital efficiency and potential cash-flow stress in a project-driven business.
  • Earnings include other income of ₹376 Cr, raising questions about the quality and sustainability of core operating profit.
  • TTM sales growth has slowed to just 4% compared to the 3-year compounded rate of 13%, suggesting a notable deceleration in revenue momentum.
  • TTM profit growth of 8% lags the 3-year compounded profit growth of 13%, pointing to a recent earnings slowdown.
  • A price-to-book ratio of 6.81 is elevated for a construction-sector company and implies the market is pricing in substantial future growth that must materialise to justify the valuation.
  • The dividend yield of 0.22% offers negligible income protection during periods of capital depreciation.
  • 10-year stock CAGR of just 3% despite a 10-year profit CAGR of 7% suggests the market has historically been reluctant to assign a sustained premium to the business.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: NBCC is on a strong order-booking streak, securing over ₹15,000 crore in new project value across Delhi apartment sales, Bihar redevelopment, and Supertech revival tenders in the past month. Profitability is improving with EBITDA margins expanding to 6.9%, though a 5.6% revenue decline in Q1 FY27 bears watching. With Q2 FY27 results due November 5, the near-term catalyst is whether revenue growth catches up with the expanding order pipeline.

Positives 6
  • ₹5,191 Cr Delhi apartment sale Oct 29

    NBCC sold ~8.80 lakh sq ft of residential apartments at Avenue Towers, Sarojini Nagar via e-auction for ₹5,191 crore, earning a 1% marketing fee.

  • ₹5,152 Cr Bihar redevelopment MoU Nov 02

    NBCC signed an MoU with Bihar government for four Patna redevelopment projects with expected sale/lease proceeds of ₹5,152 crore and a ₹2,000 crore project cost, executed on a self-financing basis.

  • ₹9,620 Cr Supertech revival tenders Oct 06

    NBCC floated 25 tenders worth ₹9,620.33 crore to revive 16 stalled Supertech projects covering nearly 50,000 housing units across four states.

Neutral 2
  • New Director (Projects) appointed Oct 19

    Ashutosh Gautam, formerly of RVNL with 34+ years of infrastructure experience, was appointed Director (Projects) effective October 19, 2026.

  • MCA merger order corrigendum Oct 16

    NBCC filed a corrigendum to the MCA's first motion order regarding its merger with HSCC (India) Limited, clarifying board approval dates and affidavit authorizations.

Quarterly Results

₹ Cr
NBCC quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,918
2,059
2,424
3,996
2,143
2,446
2,809
4,644
2,391
2,914
3,022
4,560
2,260
Expenses
1,861
1,963
2,306
3,753
2,051
2,346
2,665
4,353
2,281
2,809
2,909
4,273
2,105
Operating Profit
57
96
117
243
92
100
144
291
110
104
114
287
155
OPM %
3%
4.6%
4.8%
6%
4.3%
4.1%
5%
6%
4.6%
3.6%
3.8%
6%
7%
Other Income
48
11
36
−44
54
67
55.2
−39
74
103
152
59
61
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
1
1
1
1
1
1
2
3
3
3
3
4
4
PBT
104
105
152
198
144
166
196
249
181
205
263
342
213
Tax %
25%
22%
25%
28%
25%
25%
27%
27%
26%
23%
25%
26%
26%
Net Profit
77
82
114
141
107
125
142
183
135
157
197
254
158
EPS (₹)
0.28
0.29
0.41
0.5
0.39
0.45
0.51
0.65
0.49
0.57
0.71
0.89
0.57

Profit & Loss

₹ Cr
NBCC profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,394
5,826
7,425
8,447
9,943
8,087
6,953
7,691
8,876
10,407
12,044
12,889
12,756
Expenses
4,105
5,510
7,017
7,992
9,574
7,982
6,821
7,483
8,532
9,890
11,409
12,269
12,095
Operating Profit
289
317
408
455
369
105
133
207
345
517
635
619
660
OPM %
7%
5%
5%
5%
3.7%
1.3%
1.9%
2.7%
3.9%
5%
5%
4.8%
5%
Other Income
147
98
84
163
207
207
180
121
38
51
133
388
376
Interest
41
3
31
28
3
8
15
9
6
4
5
3
0
Depreciation
2
2
5
6
4
6
6
5
5
5
7
13
14
PBT
393
409
454
584
569
297
292
315
372
559
755
991
1,023
Tax %
29%
29%
28%
32%
31%
66%
18%
24%
25%
26%
26%
25%
—
Net Profit
278
289
326
396
392
100
240
238
278
414
557
742
765
EPS (₹)
1.03
1.07
1.31
1.4
1.39
0.29
0.84
0.83
0.99
1.49
2
2.67
2.74
Div. Payout %
24%
41%
41%
26%
31%
31%
37%
40%
36%
28%
33%
38%
—

Balance Sheet

₹ Cr
NBCC balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
120
120
180
180
180
180
180
180
180
180
270
270
Reserves
1,218
1,421
1,514
1,886
1,328
1,270
1,463
1,588
1,764
2,046
2,209
2,747
Borrowings
0
12
6
0
0
0
1
0
0
1
0
0
Other Liabilities
3,426
3,906
6,366
10,202
11,592
11,080
11,778
11,715
10,968
10,513
10,911
13,290
Total Liabilities
4,764
5,459
8,066
12,269
13,101
12,531
13,422
13,483
12,913
12,739
13,390
16,307
Fixed Assets
26
62
123
129
182
165
159
175
182
185
531
614
CWIP
0
0
0
0
0
0
16
2
4
12
4
38
Investments
146
236
74
28
42
28
20
18
21
276
265
19
Other Assets
4,592
5,161
7,868
12,111
12,876
12,337
13,227
13,287
12,705
12,266
12,590
15,636
Total Assets
4,764
5,459
8,066
12,269
13,101
12,531
13,422
13,483
12,913
12,739
13,390
16,307

Cash Flow

₹ Cr
NBCC cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−155
176
605
907
638
113
456
80
−374
−6
661
439
Investing
−2
−36
282
−474
−209
88
151
33
272
−184
575
250
Financing
−70
−84
−502
−247
−150
−160
−41
−95
−90
−103
−269
−201
Net Cash Flow
−227
56
385
185
279
41
567
19
−192
−293
967
489
Free Cash Flow
−161
152
591
902
633
130
454
74
−385
−50
342
402
CFO/OP
−37
80
168
228
208
135
356
44
−105
1
107
84

Ratios

NBCC financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
142
115
126
115
90
84
109
96
82
102
93
144
Cash Conversion Cycle
142
115
126
115
90
84
109
96
82
102
93
144
Working Capital Days
7
−1
−30
−122
−149
−235
−285
−241
−190
−123
−132
−119
ROCE %
35%
28%
32%
29%
30%
18%
18%
21%
27%
32%
33%
29%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view NBCC insights

61 extracted metrics across FY06–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 61.75%
  • Public 20.65%
  • DIIs 10.19%
  • FIIs 4.39%
  • Others 3.01%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about NBCC (India)

What does NBCC (India) Ltd do?
NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The Co. operates in three major segments - Project Management Consultancy, Engineering Procurement & Construction, and Real Estate.
Where is NBCC (India) Ltd (NBCC) listed?
NBCC (India) Ltd trades as NBCC on the NSE and under code 534309 on the BSE.
Which sector does NBCC (India) Ltd belong to?
NBCC (India) Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the PE ratio of NBCC (India) Ltd?
NBCC (India) Ltd trades at a PE ratio of 28.37 as of 4 Nov 2026, on earnings per share of ₹2.74, against a book value of ₹11.18 per share.
What is the 52-week high and low of NBCC (India) Ltd?
Over the last 52 weeks NBCC (India) Ltd has traded between ₹67.02 and ₹125.85 as of 4 Nov 2026.
Does NBCC (India) Ltd pay dividends?
NBCC (India) Ltd has a dividend yield of 0.20%.
What is the Return on Equity (ROE) of NBCC (India) Ltd?
NBCC (India) Ltd reported a return on equity of 20.40%. Its debt-to-equity ratio is 0.00.

Company Information

NBCC (India) Limited is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The Co. operates in three major segments - Project Management Consultancy, Engineering Procurement & Construction, and Real Estate.

Website nbccindia.in
CEO Mr. Kellambally Puttaswamy Mahadevaswamy
Employees 1,172
Listed 12 Apr 2012
Face Value ₹1

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