Company Overview

NCC Limited submitted an investor presentation for its Analyst/Investor Conference call scheduled for August 7, 2026, at 11:30 AM IST, regarding the unaudited financial results for the quarter ended June 30, 2026 (Q1 FY2027). The presentation was filed pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, with reference to the company's letter dated July 29, 2026.

Key Financial Performance (Q1 FY2027)

Consolidated Performance:

  • Revenue: ₹5,842 crore, representing a 12% year-on-year (YoY) increase
  • EBITDA Margin: Expanded to 9.4% (Q1 FY26: 8.8%)
  • Profit After Tax (PAT): Higher YoY (specific figure not quantified in disclosure)
  • Order Book: ₹81,214 crore as of June 30, 2026 (compared to ₹83,004 crore as of March 31, 2026)
  • Order Inflow: ₹3,889 crore for the quarter (Q1 FY26: ₹3,658 crore)
  • Book-to-Bill Ratio: Approximately 3.5x (FY26: ~4x)

Standalone Performance:

  • Net Debt: ₹1,497 crore (compared to ₹1,667 crore previously)
  • Debt-Equity Ratio: 0.24x (compared to 0.30x previously)
  • Gross Debt: ₹1,852 crore (compared to ₹2,251 crore previously)

Revenue Composition:

Construction accounted for 80% of FY26 group revenue. For Q1 FY27, the revenue breakdown by entity and segment was provided in charts, with specific mentions:

  • Pachhwara Coal Mining contribution: ₹715 crore
  • Smart meter SPVs contribution: ₹264 crore
  • Construction revenue after inter-group eliminations of ₹261 crore

Working Capital & Debt Management

Working Capital (Standalone):

  • Working capital excluding cash & margin money deposits: ₹5,334 crore (27% of turnover), up from ₹4,887 crore (28% of turnover) in FY26
  • Trade receivables: ₹3,055 crore (68 days), down from ₹3,336 crore (73 days) in FY26

Consolidated Debt:

  • Net Debt: ₹1,574 crore (compared to ₹2,815 crore previously)

Subsidiaries & Investments Performance

Pachhwara Coal Mining (NCC Stake: 51%):

  • Business: Mine developer & operator (MDO) asset operational since December 12, 2018
  • Location: Pachhwara North, Pakur, Jharkhand; Client: WBPDCL
  • Project Life: 30 years; Project Cost: ₹50,000 crore (current price); Rated Capacity: 15 MTPA (achieved FY23)
  • Q1 FY27 Financials: Revenue ₹715 crore (up 2% QoQ, down 4% YoY), Profit Before Tax ₹28 crore
  • Contribution to group revenue: 12% (Q4 FY26: 11%, Q1 FY26: 14%)
  • FY26 Reference: Revenue ₹2,711 crore, PBT ₹107 crore, 13% of group revenue
  • Management Commentary: Production and offtake remained aligned with the WBPDCL arrangement, providing a stable, annuity-like earnings stream.

NCC Urban Infrastructure Limited (NCC Stake: 80%):

  • Business: Real estate development operating since December 2005
  • Presence: Bengaluru, Hyderabad, Chennai, Ranchi, Mumbai
  • Portfolio: Completed area 11.7 msf, Under construction 2.78 msf (5 projects), Pipeline 3.72 msf (6 projects)
  • Recent Launch: NCC Urban Retreat, Hennur Rd
  • Q1 FY27 Financials: Revenue ₹56 crore, Profit After Tax ₹7 crore, Net Worth ₹456 crore, Total Debt ₹150 crore
  • NCC Investment: ₹216 crore (unchanged)
  • FY26 Reference: Revenue ₹276 crore, PAT ₹29 crore, Net Worth ₹449 crore

Smart Meter SPVs — Maharashtra (RDSS) (NCC Stake: 100% each):

  • Activity: AMI Smart Meter Installation under RDSS scheme using DBFOOT model
  • Number of SPVs: 2 (NCC AMISP RAY – Pkg-8 and NCC AMISP Marathwada – Pkg-9)
  • Client: MSEDCL; Project Value: ₹6,791.59 crore (incl. GST)
  • Tenure: ~10 years annuity starting FY27/28
  • Capital Deployment: NCC Equity Infused (cumulative) ₹460 crore; Debt Drawn (cumulative) ₹1,461 crore
  • Progress: 45% of meters deployed
  • Revenue Model: Annuity-based with fixed periodic payments per meter installed and operated
  • Note: Bihar Smart Meters (NBPDCL) with project value ₹1,648 crore are executed directly by NCC standalone.

Operational & Business Highlights

  • The order book as of June 30, 2026, is well-diversified across seven business verticals: Buildings 27%, Transportation 20%, Mining 17%, Electrical (T&D) 17%, Water & Railways 12%, Irrigation & Others 7%.
  • Execution is supported by an established project management framework and in-house design capabilities.
  • The company's credit profile remained stable with an AA- rating reaffirmed during the quarter.

FY2027 Guidance

  • Order Inflow: ₹22,000 – 25,000 crore
  • Revenue Growth: 8% – 10% YoY
  • EBITDA Margin: 8.5% – 9.0%

The company emphasized a focus on profitable growth, strong execution, prudent capital allocation, and creating long-term value.

Projects & Awards

Several projects were highlighted across divisions:

  • Highways & Power: MRR Road Project, Madurai (29.96 km on NH-744A); Kusumi Project (Electrical infrastructure in UP districts)
  • Urban Infra & Healthcare: LDA Daliganj Flyover, Lucknow; LTMG Hospital, Mumbai (62 OTs, 14-storey OPD building)
  • Water & Sanitation: Jal Jeevan Mission schemes in Lakhimpur, UP; Jal Arpan schemes in Hardoi, UP
  • Awards: ISDA Infracon National Awards 2026; ET Now Realty Conclave & Awards (Commercial Landmark of the Year – New Delhi)

ESG, CSR & Sustainability (FY26 Highlights)

  • Environmental: Emission intensity reduced by 17% to 6.22 tCO₂e/₹Cr; Renewable procurement tripled YoY to 424,200 kWh solar; 2.49 lakh MT recycled inputs; Nil environmental non-compliance
  • Social: Worker LTIFR improved 48% to 0.12; 12,371 employees + 19,117 workers; Zero POSH complaints; MSME sourcing nearly doubled to 18%
  • Governance: ESG Committee of the Board; BRSR Core reasonable assurance by SGS India; 100% Board & KMP ESG training; 4 ISO certifications (9001/14001/45001/27001)