NBCC (India) Ltd has reported a significant 26% increase in its net profit for the fourth quarter of the financial year 2023-24, reflecting strong operational performance and robust project execution. The state-owned construction giant's net profit rose to ?17 million from ?13.5 million in the corresponding quarter of the previous year. This impressive growth can be attributed to the company's focused strategy on executing high-value projects and streamlining operations.

Revenue for the quarter also saw a substantial increase, climbing to ?290 million, up from ?230 million in the same period last year. This 26% revenue growth is driven by a surge in the execution of large-scale infrastructure and redevelopment projects, bolstered by a strong order book and timely project completions. The company?s order book stood at ?8.7 billion at the end of the quarter, indicating a healthy pipeline of future projects.

NBCC's robust performance in Q4 FY24 can be linked to its diversified portfolio, which includes real estate development, project management consultancy (PMC), and engineering, procurement, and construction (EPC) services. The PMC segment, which constitutes a major part of its revenue, continued to drive growth with several key projects being completed ahead of schedule.

Additionally, NBCC has been focusing on expanding its footprint in international markets. The company has secured new contracts in countries such as Mauritius, Maldives, and Nepal, contributing to its revenue and profit growth. This international diversification strategy is expected to further strengthen its financial position and mitigate risks associated with domestic market fluctuations.

NBCC's strategic initiatives, including digitisation of project management processes and a strong emphasis on sustainable construction practices, have also played a crucial role in enhancing operational efficiency and profitability.

The company's management expressed confidence in maintaining this growth trajectory, supported by a robust order pipeline and ongoing projects. With the Indian government?s push for infrastructure development and urban rejuvenation, NBCC is well-positioned to capitalise on emerging opportunities and deliver sustainable growth.