NBCC Wins ₹134 Cr Odisha Contracts Amidst Stock Dip

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Overview

NBCC India secured two new work orders totaling ₹134.05 crore for educational infrastructure projects in Odisha. These follow recent wins worth ₹220.31 crore. Despite the new business, the state-owned company's shares closed 2.46% lower on Monday.

NBCC Secures New Infrastructure Mandates

State-owned NBCC (India) Ltd announced on Monday that it has been awarded work orders aggregating ₹134.05 crore for projects in Odisha. These contracts fall within the company's regular course of business and reinforce its role in infrastructure development.

Odisha Education Projects Detailed

The new mandates include a ₹45.87-crore contract from Maharaja Sriram Chandra Bhanja Deo University in Baripada for campus construction and renovation under the PM-USHA scheme. Additionally, NBCC will undertake civil works for the Godabarisha Mishra Adarsha Prathamika Vidyalaya Scheme, valued at ₹88.18 crore, commissioned by the Odisha School Programme Authority.

Recent Order Wins Bolster Backlog

These Odisha contracts add to NBCC's already substantial order book. Just days prior, on December 31, the company announced securing three domestic orders totaling approximately ₹220.31 crore. These earlier wins included a significant ₹163.12-crore project for Canara Bank's head office construction in Bengaluru, alongside dormitory and campus development work for Navodaya Vidyalaya Samiti in Maharashtra and Telangana.

Market Reaction

Despite the consistent inflow of new business, investors reacted negatively on Monday. Shares of NBCC (India) Ltd closed down 2.46% on the National Stock Exchange, settling at ₹119.65.

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