NBCC shares rise over 3% after subsidiary bags order worth ₹528 crore

In a stock exchange filing the company said that its wholly-owned subsidiary HSCC (India) Ltd has secured an order from the Directorate of Medical Education and Research, Haryana.

The order received by HSCC (India) is worth ₹528.21, the company informed the bourses.

The order pertains to procurement of bio-medical equipment and hospital furniture for the Pt. Deen Dayal Upadhayaya University of Health Sciences in Karnal, Haryana.

This is the third order received by the public sector undertaking (PSU) and its subsidiaries this week.

On August 12, NBCC informed the bourses that it received two simultaneous orders worth nearly ₹720 crore. The first order, valued at ₹9.97 crore, pertains to the construction of a new building by demolishing the existing building of the Hyderabad chapter of Institute of Company Secretaries of India (ISCI). The second order, worth ₹710 crore, came from the Jhansi Development Authority to develop two land parcels on a self-sustainable mode in the city.

On August 9, NBCC received an order worth ₹15,000 crore from the Srinagar Development Authority. As per the contract details, the public sector realty firm will develop a satellite township spread over 406 acres at Rakh-e-Gund in Bemina, Srinagar.

NBCC also announced its Q1 results on August 13, reporting a consolidated net profit of ₹107.2 crore, up 38.5% against the same quarter last year. Its total revenue from operations jumped 11.3% year-on-year to ₹2,144.2 crore.

Shares of NBCC were trading at ₹174.5 apiece, up 0.69%, on the NSE at 1:42 pm.