NBCC Q4 Results: Exceptional gain aids profit, revenue drops; Stock off highs

NBCC (India) Ltd. reported a 39% year-on-year rise in consolidated net profit for the March quarter, aided by exceptional gains during the period. Revenue, however, declined marginally from a year ago.

The state-run construction company reported consolidated net profit of ₹253.5 crore for the March quarter, up from ₹182.7 crore in the corresponding quarter last year. Revenue fell 1.8% from last year to ₹4,559.8 crore from ₹4,643.8 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined 3.4% to ₹287.3 crore from ₹297.3 crore a year ago, while EBITDA margin narrowed marginally to 6.3% from 6.4%.

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The company's profit before tax rose to ₹304.6 crore in Q4FY26 from ₹208.3 crore in the year-ago quarter, supported by an exceptional gain of ₹80.1 crore during the quarter.

The exceptional gain was related to the reversal of an earlier write-down in the company’s Kochi real estate project after the Supreme Court recalled its earlier judgment linked to environmental clearance-related issues.

For FY26, NBCC reported standalone revenue from operations of ₹9,755.3 crore, up from ₹8,730.6 crore in FY25, while net profit increased to ₹703.3 crore from ₹476.1 crore a year ago.

The board recommended a final dividend of ₹0.46 per equity share for FY26, subject to shareholder approval.

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NBCC’s Project Management Consultancy (PMC) segment remained the key revenue contributor, generating ₹3,771 crore during the quarter, compared with ₹2,892.6 crore in the year-ago period.

Separately, the company said the Department of Investment and Public Asset Management (DIPAM) has conveyed its no-objection to the proposed merger of HSCC (India) Ltd., NBCC’s wholly-owned subsidiary, with the parent company.

Shares of NBCC are off the highs of the day, currently trading 2.3% higher at ₹97.12. The stock is down 20% so far this year.