Tuesday 18th September 2018

NBCC TO LEVERAGE DOMESTIC GROWTH POTENTIAL, BANKS ON NEW OPPORTUNITIES

Sep 15th, 2018 6:25 pm | By | Category: LATEST NEWS

NBCC AGM
(THE NEWSMAN OF INDIA.COM)
Highlights:
• NBCC forecasts 30 percent Growth
• To evolve Project Management Consultancy (PMC) as a strong business model
• NBCC to adopt asset-light model to focuss on cost consolidation
• NBCC to take up more high-value projects while consequently cutting down on number of smaller projects.

New Delhi, 15th September, 2018: NBCC (India) Ltd the State-owned Navratna Enterprise company is poised well to capitalise on new market opportunities by strengthening its core competencies, said Dr. Anoop Kumar Mittal Chairman-cum-Managing Director at the 58th Annual General Meeting (AGM) held at Manekshaw Centre, New Delhi.
“As India inches towards being the third largest economy in the world by 2030, NBCC is well placed for a quantum jump in line with India’s emergence as a global economic powerhouse. This has been made possible with innovative and groundbreaking changes, policy reforms and overall improvement in the company’s performance over the last five years,” Dr Mittal said. Highlighting the robust performance of the company, Dr. Mittal said that NBCC has performed with a CAGR of 21 percent over the past 10 years which has helped it emerge as a valuable stakeholder in the infrastructure and construction sector.

NBCC has a strong order book pipeline that will help in achieving a growth rate of more than 30 percent. Going forward, NBCC isalso working towards enhancing its brand value while aggressively pursuing high-value projects in domestic and overseas markets.
Currently, the company’s order book stands at around Rs 80,000 crore. NBCC has achieved 14 percent higher consolidated net profit during financial year 2017-18 over previous year driven by sturdy operational performance and sound fundamentals.

The total income for the financial year 2017-18 stood at Rs. 7095.91 crore as compared to Rs.7575.35 crore in the previous year. Sharing the developments on NBCC’S endeavours towards value addition, Dr. Mittal said that the Company would evolve Project Management Consultancy (PMC) as a strong business model based on sustainability through an asset-light model that focusses on cost consolidation using low capital expenditures. He also added that NBCC will reorganize its project portfolio to increase the scale of operations.
Dr. Mittal informed the shareholders that the Company will soon acquire more public sector undertakings to enhance its reputation as a construction behemoth, providing end-to-end services for project management consultancy and construction services under one roof. Last year the company acquired 51 percent stake in Hindustan Steel Works Construction (HSCL), a public sector company under the Steel Ministry.

It is worth mentioning that NBCC is expanding its presence in 10 new geographies from the current three and is also considering developing real estate projects on lands of sick public sector undertaking or loss making PSUs or those available with the government, mainly on self-revenue generation model.

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