Q3 2024 NBCC (India) Ltd Earnings Call Transcript
Key Points
- NBCC India Ltd (BOM:534309) achieved a total income of INR6,566 crores and a PBT of INR361 crores for the nine months, marking a 63% year-on-year increase.
- The company secured business worth INR10,000 crores in the last nine months, significantly higher than the INR6,500 crores secured in the previous year.
- The Amrapali project contributed INR1,170 crores to the turnover, with 16,000 out of 38,000 housing units completed and another 14,000 units expected by December 2024.
- NBCC India Ltd (BOM:534309) has made significant progress in redevelopment projects, with the Nauroji Nagar World Trade Center 93% completed and other projects like Netaji Nagar and Sarojini Nagar in advanced stages.
- The company has a strong focus on real estate sales, achieving INR117 crores in sales compared to INR37 crores in the same period last year, with plans to sell an additional INR50 crores by the end of the fiscal year.
- The company faces challenges in securing and awarding new projects, with a significant portion of the INR55,300 crores order backlog yet to be awarded.
- There are ongoing issues with the Amrapali project, with only INR2,000 crores of work remaining and additional FAR business still pending.
- The real estate segment has posted continuous losses in the past two to three quarters, primarily due to provisions towards losses.
- The company has a high contingent liability of INR1,400 crores, mainly due to disputes with contractors, which could impact future financials.
- NBCC India Ltd (BOM:534309) faces delays and challenges in approvals and clearances for redevelopment projects, which could affect the timely execution and revenue realization.
Ladies and gentlemen, good day, and welcome to NBCC India Limited 3Q FY24 results conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Umesh Raut from Nomura. Thank you, and over to you, sir.
Thank you, Sagar. Good morning, everyone. On the behalf of Nomura and NBCC, welcome you all for 3Q FY24 results conference call of NBCC Limited. We are happy to host the management of NBCC Limited. From the management side, today, we have Sri K. P. Mahadevaswamy, Chairman-cum-Managing Director; Shrimati B.K. Sokhey, Director, Finance; Shri Saleem Ahmad, Director, Projects; Shri Rajendra Chaudhari, Senior Executive Director, Engineering; Shrimati Reshma Dudani, Executive Director, Engineering. Also, we have Investor Relations, Balkishan Singla. So now we have -- we hand over the call to management to give initial remarks on the results and the current business outlook. Over to you, sir. Thank you.
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