NCC Limited Q1 FY2027 Earnings

NCC Limited announced its Q1 FY2027 financial results, reporting a standalone Profit After Tax (PAT) of ₹187.31 crore and consolidated PAT of ₹216.40 crore.

Reader Takeaway: Strong revenue growth and order book visibility are positive, while project payment delays pose a challenge.

What just happened

NCC Limited reported a consolidated turnover of ₹5,842 crore and standalone turnover of ₹4,952 crore for the first quarter of FY2027. The company's order book reached ₹81,214 crore as of June 30, 2026. Standalone EBITDA stood at ₹442.45 crore, with a margin of 9.01%, contributing to a standalone PAT of ₹187.31 crore. Consolidated EBITDA was ₹545.12 crore.

Why this matters

The robust order book of ₹81,214 crore, representing approximately 3.5 times its book-to-bill ratio, provides significant revenue visibility for the coming periods. This strong execution underpins the company's financial performance and its ability to meet management's FY2027 targets.

The backstory

NCC Limited is an established infrastructure and construction company with a diversified project portfolio. The company has been focusing on enhancing its order book and operational efficiency to drive growth. The current performance builds upon its consistent execution capabilities in sectors like transportation, water, and buildings.

What changes now

With a strong quarterly performance and a substantial order backlog, NCC is poised to achieve its FY2027 guidance of 8-10% revenue growth. Management is targeting order inflows between ₹22,000 crore and ₹25,000 crore for the fiscal year.

Risks to watch

Concerns include potential delays in project payments from state government projects and rising raw material costs, particularly for OFC cables used in BharatNet projects. Receivables of approximately ₹180 crore related to the Mission Bhagiratha project are also subject to legal proceedings.

Peer comparison

NCC operates in a competitive infrastructure sector with players like L&T, PNC Infratech, and KNR Constructions. Its performance in Q1 FY2027, especially its order book size and revenue growth, places it competitively within this segment.

Context metrics (time-bound)

As of June 30, 2026, NCC's order book stood at ₹81,214 crore. New orders worth ₹3,889 crore were secured during Q1 FY2027, with total inflows reaching ₹4,542 crore including July. The company expects capex for smart meter projects to be completed by March 2027.

What to track next

Investors will be closely watching the realization of payments from state government projects, the impact of raw material price increases on margins, and the progress on smart meter project execution.