New Delhi: NBCC (India) Ltd, a State-owned Navratna Enterprise, is set to capitalize on the government's increased focus on infrastructure development, according to K.P. Mahadevaswamy, Chairman and Managing Director, during the company's 64th Annual General Meeting (AGM). The meeting, held via video conferencing from NBCC Bhawan, Lodhi Road, New Delhi, showcased the company's impressive achievements during FY 2023-24 and laid out the roadmap for future growth.
During the AGM, Mahadevaswamy revealed that NBCC achieved its highest-ever revenue from operations, amounting to approximately ₹10,450 crore, reflecting a remarkable year-on-year growth of 17.5%. In the same period, the company secured new business orders worth ₹23,500 crore, bolstering its robust order book, which now exceeds ₹81,300 crore.
NBCC’s strategic focus on redevelopment and PSU land monetization continues to drive its expansion both domestically and internationally. Among its key milestones, the company has successfully completed about 22,500 housing units under the Amrapali Project, with the remaining units set for delivery by March 2025. In collaboration with the ASPIRE team, NBCC also facilitated the sale of over 6,300 units, amounting to a total sale value of ₹3,650 crore.
Several major resolutions were passed during the AGM, aimed at strengthening the company’s financial position and rewarding its shareholders:
Final Dividend: Shareholders approved a final dividend of 63 paise per paid-up equity share of Re 1 each.
Bonus Shares: A bonus share issuance in the ratio of 1:2 was approved, increasing NBCC's paid-up share capital from ₹180 crore to ₹270 crore.
Increase in Authorized Share Capital: The authorized share capital of the company was raised from ₹200 crore to ₹1,000 crore to accommodate future growth.
NBCC’s role in the Amrapali Projects has generated significant employment, creating approximately 25 million man-days in FY 2023-24. The company remains committed to providing continued employment opportunities through its ongoing and upcoming infrastructure projects.
In his closing remarks, Mahadevaswamy expressed his gratitude to the Government of India, specifically the Ministry of Housing and Urban Affairs, and other ministries for their support. He also thanked NBCC's employees, stakeholders, and esteemed clients, attributing the company's progress and success to their cooperation.
Looking ahead, NBCC is committed to excellence in its core business areas and aims to deliver maximum value to its shareholders while contributing to the nation's infrastructure development. With a strong pipeline of projects, both in India and abroad, NBCC is well-positioned for sustained growth in the coming years.
Bi Bureau
