NCC edges higher after bagging orders worth Rs 2,374 crore in Feb'23

NCC rose 1.75% to Rs 90.66 after the company announced that it has received 3 new orders aggregating Rs 2,374 crore in the month of February 2023.

Out of these orders, one order valuing Rs 1,224 crore relates to the Transportation Division, one order valuing Rs 830 crore relates to the Water & Environment Division and one order valuing Rs 320 crore relates to the Mining Division.

These orders are received from State Govt., agencies and PSU and does not include any internal orders, the company said.

NCC is a Hyderabad-based construction company, it is engaged in the construction of roads, buildings, irrigation, water and environment, electrical, metals, mining and railways. Apart from executing projects across India, the company has a presence in the Middle East through its subsidiaries in Muscat and Dubai.

The company's consolidated net profit surged to Rs 157.70 crore in the quarter ended December 2022 as against Rs 76.42 crore during the previous quarter ended December 2021. Sales rose 27.68% to Rs 3849.60 crore in Q3 FY23 over Q3 FY22.

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