Tag: NCC

NCC shares gain after company says it bagged two orders worth nearly ₹1,500 crore in February

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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NCC Limited on Friday, March 1, said it received two new orders worth ₹1,476.01 crore in February.

Of them, the ₹1,303.7 crore order is related to the transportation division and the other ₹172.31 order is related to the building division.

The former order is part of the NCC-J Kumar joint venture, and its total value is Rs 2607.39 crore. NCC’s 50% share values it at ₹1,303.7 crore.

The Hyderabad-based construction firm reported a 40% rise in its consolidated net profit at ₹220.65 crore for the quarter ended December 31, driven by higher execution during the quarter.

The revenue of the construction and infrastructure company grew nearly 35% year-on-year (YoY) in the third quarter (Q3FY24) to ₹5,260 crore from ₹3,909.6 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also grew around 34% YoY to ₹505.4 crore from ₹376.4 crore. EBITDA margin was steady at 9.6%. Profit after tax (PAT) increased 37% YoY to ₹230.9 crore from ₹168.3 crore.

In a recent interview with CNBC-TV18, Neerad Sharma, Head-Strategy at NCC said the company is eyeing some fresh contracts under the Jal Jeevan Mission. Currently, the company has Jal Jeevan Mission orders amounting to ₹18,000 crore.

NCC shares were tradig 2.23% higher at ₹252.6 apiece at 10.55 am on Friday, March 1. The stock has gained 177% in the past year.

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Construction firm NCC eyeing fresh orders under Jal Jeevan Mission in FY25

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hyderabad-based construction firm NCC, formerly known as Nagarjuna Construction Company, on February 8, reported a 40% rise in its consolidated net profit at ₹220.65 crore for the quarter ended December 31, driven by higher execution during the quarter.

In an interview with CNBC-TV18, Neerad Sharma, Head-Strategy at NCC said the company is eyeing some fresh contracts under the Jal Jeevan Mission. Currently, the company has Jal Jeevan Mission orders amounting to ₹18,000 crore.

In the interim budget presented in Parliament by Finance Minister Nirmala Sitharaman on February 1, the Jal Shakti Ministry received an allocation of ₹98,418 crore for the financial year 2025 (FY25), an increase from ₹96,549 crore allocated last year.

The flagship program of the ministry, the Jal Jeevan Mission, secured a significant portion, receiving 71% of the total allocation.

Also Read | Budget 2024: Jal Shakti ministry receives ₹98,418 crore, Jal Jeevan Mission gets maximum share

“We continue to see a healthy pipeline of projects in this space and on a case-to-case basis we are bidding for these projects, and we are hopeful of bagging at least a couple of them in the next financial year,” Sharma said.

The revenue of the construction and infrastructure company grew nearly 35% year-on-year (YoY) in the third quarter (Q3FY24) to ₹5,260 crore from ₹3,909.6 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also grew around 34% YoY to ₹505.4 crore from ₹376.4 crore. EBITDA margin was steady at 9.6%. Profit after tax (PAT) increased 37% YoY to ₹230.9 crore from ₹168.3 crore.

Also Read | NCC aims for 20% revenue growth in FY24, confident of exceeding order inflow guidance

NCC’s main focus lies in constructing industrial and commercial structures, as well as roads, bridges, and flyovers. The company also undertakes projects in housing, power transmission, irrigation, and hydrothermal power. Internationally, NCC operates in Oman and the United Arab Emirates.

The stock has gained more than 135% in a year. The company has a market capitalisation of ₹13,687.06 crore.

(with input from agencies)

For the entire interview, watch the accompanying video

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Delhi University to allow Republic Day parade participants to take missed exams

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Delhi University students, who are taking part in the Republic Day 2024 celebrations, will get an opportunity to appear for missed exams. As per the official notification released on Thursday, the university said it will give a “special chance” to the final year students, who have been busy with the preparations for Republic Day and couldn’t take their exams held during that period.

Besides, the varsity is also contemplating a relaxation for students who represent the institution in national or international sporting events, including the Olympics.

According to PTI, the final-year students of Delhi University will take part in the Delhi contingent of NCC. “We will offer a special chance to final-year students of Delhi University who were busy with parade rehearsal and therefore couldn’t appear or the examination held during the period,” OSD of examination, Ajay Arora said.

He added the university will also be considering including the first and second-year students participating in the Republic Day parade for the same after evaluating the number of students needing the relaxation.

“We want to encourage students to learn from their experiences beyond the classroom teaching. Because of this, it is important that they participate in such events and gain exposure,” Arora said. “This will also help grow a sense of nationalism in young minds.”

The datesheet for the special examination will be released soon and the exams will be held accordingly to avoid any clash with the other papers during the scheduled time.

As many as 2,274 cadets, including students from Delhi University, will represent the Delhi Contingent this year. The 75th Republic Day parade will also see a record number of 907 girl cadets marching on the occasion.

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NCC bags new orders worth over ₹500 crore in November

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Infrastructure development company NCC Ltd announced on Friday that it received new orders worth over ₹500 crore in  November. The road construction firm informed the bourses on December 1 that it won two new orders worth ₹553.48 crore last month from a private agency.

The new orders have been received by the company’s building division. It does not include any internal orders. The said orders will be executed within 14 months from the date of the award.

The company also said that neither its promoters nor the promoter group companies have any interest in the entities that have awarded the project to NCC. Further, the new orders received last month do not fall under the purview of ‘Related Party Transactions’.

In November, NCC’s management sounded confident about FY24 revenue growth and order inflows at an analyst call. After releasing the quarterly earnings report for Q2FY24, the company management said that its order book surged 54% year-on-year to ₹61,800 crore.

In the September quarter, NCC’s fresh Q2 order inflow stood at ₹12,289 crore. The rise in order book was boosted by the smart meter order from Maharashtra, the company’s management stated.

The company’s management maintained the revenue growth guidance of 20% for FY24E, with an upside risk to order. At the analyst call, it projected order inflow to exceed by ₹3,000 crore to ₹4,000 crore than the ₹26,000 crore guidance for FY24.

The company’s revenue surged nearly 40% to ₹4,719.6 crore in the September quarter compared to ₹3,373.4 crore in the corresponding period a year ago.

Shares of the company were trading flat at ₹166.6 per piece, down 0.09% on BSE at 1:35 PM.

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NCC Day 2023: All you need to know about National Cadet Corps, the youth wing of Indian Armed Forces

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The National Cadet Corps (NCC) will celebrate its 75th anniversary on November 27, 2023. Serving as the youth wing of the Indian Armed Forces, it operates from its headquarters in New Delhi, India. Open to school and college students voluntarily, the NCC functions as a Tri-Services Organisation, encompassing the Army, Navy and Air Force. Cadets undergo fundamental military training, including small arms handling and drill exercises.

Why is NCC Day Observed?

NCC Day is observed annually to commemorate the founding principles and objectives of this vital youth organisation. The motto of the NCC, Unity and Discipline, encapsulates the values of duty, loyalty, dedication, and self-sacrifice. Beyond these principles, the Government of India recognizes the NCC as a significant platform for international engagement. For over four decades, NCC cadets have served as ambassadors of peace and unity, participating in Youth Exchange Programmes with over 25 nations, a feat worth celebrating.

How is NCC Day Celebrated?

Across India, various NCC units come together to celebrate NCC Day. In cities such as Delhi and Kolkata, spirited rallies are conducted, featuring cadets showcasing their discipline, marching skills and dedication. The celebrations represent the collective commitment of NCC towards nurturing responsible and disciplined youth.

The goal of the National Cadet Corps

The NCC’s core objective is to develop the physical, intellectual and moral dimensions of society. It aspires to mould individuals into well-rounded personalities with a strong sense of civic responsibility and commitment to community service. The organisation actively promotes national integration, unity and social harmony among the youth of the nation.

What Do NCC Cadets Do?

NCC is the premier training ground for the youth of India, focusing on instilling the spirit of selfless service. It stands as the largest youth organisation in the country, with a mission to build character, and leadership qualities and foster national integration. NCC cadets engage in a range of activities, including:

Drills and Parades: Organising and conducting drills on weekends to inculcate a sense of discipline.

Educational Programs: Conducting classes on diverse subjects such as first aid, environmental awareness, personal hygiene, and cleanliness.

Community Service: Actively participating in blood donation drives to contribute to the welfare of society.

Recreational Activities: Organising military parades, picnics and seminars on social issues to enhance camaraderie and awareness.

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NCC zooms over 6% on positive management commentary, CLSA sees 21% upside

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Road construction and infrastructure development company NCC Ltd shares jumped more than 6% on Monday after the management sounded confident about FY24 revenue growth and order inflows. The management said it during an analyst call.

Meanwhile, brokerage CLSA maintained its ‘buy’ rating on the stock on the back of a record backlog of orders, including smart meter, water, and urban infra orders.

The brokerage also increased the target price to ₹201 per share from ₹195 earlier, implying a potential upside of 27% over Friday’s close.

After the quarterly financial earnings, the company management said that its order book jumped by 54% year-on-year to ₹61,800 crore.

The fresh Q2 order inflow of ₹12,289 crore (up by 4.3 times) was boosted by the smart meter order from Maharashtra.

The management maintained the revenue growth guidance of 20% for FY24E with an upside risk to order. The company expects to exceed the ₹26,000 crore order inflow guidance for FY24 by ₹3,000 crore to ₹4,000 crore.

NCC reported a 39.9% growth in revenue at ₹4,719.6 crore for the July-September quarter compared to ₹3,373.4 crore in the year-ago quarter.

Operating profit, or Earnings Before Interest Tax Depreciation and Amortisation (EBITDA), was down 2.1% YoY at ₹303.7 crore in the September quarter against ₹310.1 crore in the year ago period. Margin was at 6.4% in Q2 of FY24 against 9.2% a year ago.

Net profit was down 37.1% to ₹86.5 crore in Q2FY24 as against ₹137.5 crore a year ago.

In the second quarter, the company’s numbers were boosted by an arbitration award of ₹200 crore against net receivables of ₹600 crore in the books related to a dispute with Singapore-based Sembcorp Industries.

Watch: Neerad Sharma, Head of Strategy at NCC, delves into the Q2FY24 performance of the company.

The company also received a settlement agreement for a road EPC contract worth ₹150 crore.

Brokerage Antique stated that NCC was boosted by the one-time impact of ₹200 crore on revenue/ EBITDA and ₹150 crore on net profit during the quarter.

Brokerage CLSA stated that the highest-ever backlog, led by a large smart meter, water, and urban infra orders.

The government’s water and urban infra programmes should create years of growth visibility, the brokerage noted.

NCC Ltd shares were trading higher by 4.07% at ₹163.75 per share on BSE at 12.28 PM.

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NSS Day: Everything you need to know about NSS and how to become a volunteer

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The National Service Scheme (NSS) is an initiative administered by the Indian government, under the purview of the Ministry of Youth Affairs and Sports. Abbreviated as NSS, its primary objective is to foster the holistic development of students through active participation in community service.

NSS operates as a voluntary organisation, targeting young individuals enrolled in colleges, universities, and at the +2 level. Its central mission revolves around bridging the gap between educational institutions and local communities, with a special emphasis on rural areas. Since 1969, September 24 has been designated as NSS Day, commemorating its founding and mission.

History of NSS

The idea of the National Service Scheme (NSS) was propagated by Major General Jagannath Rao Bhonsle. The University Grants Commission, headed by S. Radhakrishnan, officially recommended bringing voluntary national service into academic institutions. This concept was further discussed in a meeting of the Central Advisory Board of Education (CABE) in January 1950. After examining experiences from other countries, CABE recommended that students and teachers should participate in voluntary manual work.

This idea was incorporated into the first Five-Year Plan in 1952, emphasising the need for Indian students to engage in social and labour services for one year. In 1958, Prime Minister Jawaharlal Nehru wrote to the chief ministers, considering social service as a prerequisite for graduation and instructed the Ministry of Education to develop a suitable scheme for introducing national service in academic institutions.

How to become an NSS volunteer?

NSS is a voluntary programme that begins from Class 11. In college, NSS volunteers are selected from first and second-year students. Even international students studying in Indian universities can join NSS to contribute to national reconstruction and community work.

NCC cadets cannot participate in NSS, and NSS volunteers cannot join NCC or any other youth organisation while in NSS. An NSS volunteer is expected to dedicate 240 hours of social service over two years, with 20 hours for orientation and 100 hours for community service each year.

To become an NSS volunteer, contact the NSS Programme Officer at your school or college. Enrolment in NSS is free. Upon completing the required service hours, NSS volunteers receive a certificate. They may also receive benefits during higher education admissions and other advantages determined by institutions or universities.

Why is NSS day observed?

NSS Day is a special occasion to honour and celebrate the efforts of every volunteer in working towards the well-being of everyone in their community.

The NSS program is designed to help volunteers understand their community to foster a deep sense of responsibility for improving society. It focuses on the personal development of each volunteer through community service.

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This construction company won an order worth a third of its overall market capitalisation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of construction company NCC Ltd., recovered from the day’s low to trade with gains after its Joint Venture with J Kumar Infraprojects won an order worth Rs 6,300 crore from the BMC (Brihanmumbai Municipal Corporation). Notably, this order’s value constitutes approximately a third of the company’s total market capitalisation, which stands at over Rs 9,000 crore.

The contract encompasses the design, construction, and operation of twin tunnels stretching from Film City in Goregaon, Mumbai to Khindipada in Mulund. The project also entails the construction of a box tunnel at Film City, along with associated electrical and mechanical works.

NCC holds a majority stake of 51 percent in this partnership, with J Kumar controlling the remaining 49 percent. Based on the contract’s total value, NCC’s share amounts to Rs 3,213.55 crore.

The project is slated to span five years in terms of construction, followed by a 10-year commitment for operation and maintenance. It’s important to highlight that the promoters and entities within the promoter group do not hold any stake or interest in the Joint Venture that successfully secured this significant project.

In an interaction with CNBC-TV18 last month, the company said that it is anticipating orders worth Rs 26,000 crore this financial year. It is also projecting revenue to grow at 20 percent this financial year. Neerad Sharma, Head of Strategy at NCC, said that the company maintains a strong order book position, which currently stands at Rs 60,000 crore.

“Our project sites are fully operational, and we are well confident to state that the company is on track to achieve the projected 20 percent revenue growth,” Sharma added.

Shares of NCC have recovered nearly 4 percent from the day’s low to trade 0.9 percent higher at Rs 150.75. The stock has gained 65 percent so far in 2023.

The stock of J Kumar Infra has also extended gains post the order win. The stock is now trading 3.5 percent higher at Rs 408.

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NCC expects Rs 26,000 crore worth order inflow, 20% revenue growth in 2023-24

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Infrastructure and construction major NCC Ltd, which recently released its first quarter earnings along with the financial projections for the fiscal year 2023-24, said it is anticipating an order inflow of Rs 26,000 crore in the year. It also projected a revenue growth of 20 percent for this financial year.

Neerad Sharma, Head of Strategy at NCC, said in an interview with CNBC-TV18 that the company maintains a strong order book position, which currently stands at Rs 60,000 crore.

“Our project sites are fully operational, and we are well confident to state that the company is on track to achieve the projected 20 percent revenue growth,” Sharma added.

Emphasising that NCC has already fulfilled an impressive 38-39 percent of its order inflow projection for FY24, Sharma divided its Rs 60,000 crore worth order book into two distinct categories — those secured prior to COVID-19 and those secured after.

Within the realm of infrastructure, NCC maintains a presence across various  segments, including buildings, transportation, water, electrical transmission and distribution, irrigation, and mining.

Sharma added that the company has a robust pipeline of upcoming projects for bidding.

NCC’s guidance also includes a targeted 10 percent margin growth. Sharma highlighted in the interview that the company is reasonably confident in achieving this 10 percent margin growth target.

“Commodity prices in the last fiscal year were really hitting the roof, and the current situation appears to be under control. Looking ahead, we are  confident about achieving this 10 percent growth in EBITDA margin.”

Among the notable upcoming projects for NCC, Sharma mentioned that it is awaiting the letter of acceptance (LoA) for the Goregaon-Mulund Highway Project.

“The value of this project is about Rs 6,300 crore, and we have an equal joint venture (JV) with our partners. So if we divide that number into parts, it could be close to Rs 3,000 crore odd each,” he added.

NCC on August 10 reported a 33.9 percent year-on-year increase in its consolidated net profit at Rs 173.54 crore for the April-June quarter of this fiscal year.

Its revenue for the quarter under review was also up 31.9 percent at Rs 4,380.39 crore, as compared to the year-ago period. The surge in revenue and profit was mainly attributed to the increased order acquisitions recorded in the fiscal year 2022-23.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow