From ET Realty
NEW DELHI: State-owned construction firm NBCC is aiming to increase its order book from Rs 17,000 crore to around Rs 1 lakh crore by the end of 2020.
Bluechip navratna National Buildings Construction Corporation Ltd (NBCC) had a turnover of around Rs 5,000 crore in the 2014-15 fiscal.
“Despite the weak market, we are able to perform better and I am confident that it will continue in the coming years,” NBCC Managing Director Anoop Mittal told .
Stating that NBCC has bagged big-ticket projects this year, he said the company’s order book is expected to reach about Rs 40,000 crore by end of this fiscal from the current Rs 17,000 crore.
“Now we are aiming that our order book by the end of 2020 should reach Rs 1 lakh crore,” Mittal said.
The company has broadly three areas of operations — project management consultancy (PMC), real estate development and EPC contracting.
Mittal, under whose tenure company achieved the feat of obtaining Navratna status, added that its PMC segment accounts for about 85 per cent of its annual revenues, while the other two segments are also doing well.
The company is executing various major projects under the PMC vertical, its core strength.
The areas covered under this segment include roads, hospitals, offices, airports and industrial and environmental structures, among others.
Earlier this month, the state-run firm bagged a Rs 2,149- crore order from the Indian Trade Promotion Organisation (ITPO) for redevelopment of exhibition venue Pragati Maidan in New Delhi.
Besides this, in November last year the company had bagged a Rs 5,828 crore redevelopment project from AIIMS, involving construction of 3,000 flats.
NBCC has also ventured into overseas operations and opened an office in Oman.
It has also signed an MoU with Al Naba Services LLC to jointly develop infrastructure projects in the Sultanate of Oman and neighboring countries.
To further its prospects overseas, the company has also signed MoUs with Construction Industry Development Board Holdings, Malaysia and Form Yapi Malzemeleri Insaat Samayi Ticaret Ltd, Turkey.
NBCC was listed on stock exchanges in April 2012 with a total market capitalisation of about Rs 1,270 crore.
At present, its market cap is close to Rs 11,559 crore — an increase of close to ten times within a span of just three years.