NEW DELHI: State-owned construction firm
NBCC Tuesday said it is targeting 33 per cent rise in standalone sales turnover at Rs 9,500 crore during the current financial year.
NBCC (
India), a Navratna CPSE under the
Ministry of Housing and Urban Affairs, has signed an initial agreement for 2019-20 with its
administrative ministry.
The signed MoU outlines performance
targets for the company based on various financial parameters, dynamic parameters, sector specific and enterprise specific parameters.
The MoU was signed by
Housing and
Urban Affairs Secretary Durga Shanker Mishra and NBCC's CMD Shiv Das Meena.
"Sales turnover of the company has been fixed at Rs 9,500 crore and operating profit has been targeted at 5 per cent of revenue from operations (net). Profit after tax has been targeted as 27 per cent of average net worth," the company said in a statement.
During 2018-19, NBCC registered a turnover of Rs 7,141.60 crore (21.63 per cent growth over previous year) and net profit of Rs 384.11 crore (an increase of 15.14 per cent over previous year).
The MoU has laid specific emphasis on achieving set parameters with respect to
completion of projects above Rs 150 crore without time overrun.