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Indian state-owned project management consultant that redevelops government colonies and executes public construction projects.
Indian state-owned project management consultant that redevelops government colonies and executes public construction projects.
Acts mainly as manager rather than builder: it earns fees, set as a share of project cost, for overseeing construction that it hands to outside contractors, with revenue recognised as work proceeds. The Government of India owns the majority, and government departments are the main source of work.
Moat: narrow (regulatory licence, customer qualification). Preferred PMC for government redevelopment, largely nomination-based rather than open tender.
Headquarters: New Delhi, India · Founded: 1960 · Employees: 1,150
Size Nbcc (india) (NBCC.NS) is an India Industrials company (Engineering & Construction) with a market value of $2.23B, the 351st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹78.00 on 6 Nov 2026.
Performance Over six months the shares fell 19.5%, against -13.6% for the median peer and 0.0% for the India market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +7.6%); the operating margin is 5.7% (peer median 6.3%).
Valuation It trades at 26.0× forward earnings against a peer median of 13.4× (3rd most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 40% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +27 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.2 points below its cost of capital (20.0% WACC).
Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹128B | ₹126B | ₹117B | ₹103B | ₹87.8B |
| Revenue growth | — | +8% | +13% | +18% | — |
| Gross profit | ₹9.21B | ₹6.22B | ₹5.71B | ₹5.66B | ₹3.84B |
| EBITDA | ₹7.34B | ₹4.95B | ₹124M | ₹3.11B | ₹3.37B |
| Net income | ₹7.43B | ₹7.20B | ₹5.41B | ₹4.02B | ₹2.67B |
| Free cash flow | n/a | ₹6.17B | ₹7.74B | ₹1.47B | -₹2.91B |
| Capital expenditure | n/a | ₹374M | ₹3.20B | ₹448M | ₹112M |
| Total debt | n/a | ₹2.58M | ₹4.03M | ₹6.32M | ₹4.53M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Nbcc (india) NBCC.NS | $2.23B | -19% | +4% | 6% | 26.0× | 40.1% |
| Engineers India ENGINERSIN.NS | $1.74B | +12% | +6% | 20% | 25.2× | 29.6% |
| IRCON International IRCON.NS | $1.08B | -33% | -3% | 7% | 15.4× | n/a |
| Housing & Urban Development HUDCO.NS | $3.39B | -30% | +22% | 25% | 7.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NBCC.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.6% | -5.8% | 5th highest of 21 |
| 6-month return | -19.5% | -13.6% | 7th lowest of 21 |
| Distance from 52-week high | -38.0% | -30.3% | 7th lowest of 21 |
| Revenue growth (TTM) | +3.5% | +7.6% | 8th lowest of 21 |
| Operating margin | 5.7% | 6.3% | 9th lowest of 21 |
| Forward P/E | 26.0× | 13.4× | 3rd most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 40.1% | -1.3% | most demanding of 15 |
| Growth delivered (Del g) | +12.9% | +9.7% | 5th highest of 15 |
| Hurdle (Req g minus delivered) | +27.2 pp | -12.8 pp | most demanding of 15 |
| ROIC minus cost of capital | -3.2 pp | +4.4 pp | 6th lowest of 20 |
| EV / EBITDA | 28.7× | 8.7× | 2nd most expensive of 15 |
| Net debt / EBITDA | -8.9× | -0.0× | 2nd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nbcc (india) NBCC.NS | India | $2.23B | -19% | +4% | 6% | 26.0× | 40.1% | +12.9% |
| Grenergy Renovables GRE.MC | Spain | $2.24B | -40% | +8% | 23% | 18.9× | n/a | n/a |
| Penta-Ocean Construction 1893.T | Japan | $2.25B | -29% | +7% | 7% | 8.9× | n/a | n/a |
| IRB Infrastructure Developers IRB.NS | India | $2.18B | -21% | -14% | 27% | 16.0× | 9.2% | +4.2% |
| Yankey Engineering 6691.TW | Taiwan | $2.16B | -16% | +63% | 16% | 9.7× | 2.8% | +33.1% |
| Webuild WBD.MI | Italy | $2.39B | -22% | +2% | -1% | 6.5× | -2.1% | +24.4% |
| Kepco E&c 052690.KS | South Korea | $2.07B | -61% | +8% | 10% | 45.6× | n/a | n/a |
| AF Gruppen AFG.OL | Norway | $2.42B | +13% | +11% | 5% | 16.2× | -9.7% | +3.4% |
| DAI-DAN 1980.T | Japan | $2.05B | -15% | -7% | 14% | 10.2× | -4.4% | +10.2% |
| Arcplus 600629.SS | China | $2.43B | -17% | -25% | -3% | 38.4× | n/a | n/a |
| Hong Kong Zcloud Technology Construction 9900.HK | Hong Kong | $2.03B | +16% | -33% | 0% | n/a | n/a | n/a |
| Per Aarsleff Holding A/S PAAL-B.CO | Denmark | $2.02B | -6% | +14% | 5% | 13.4× | -7.6% | +11.2% |
| Kalpataru Projects International KPIL.NS | India | $2.48B | +6% | +15% | 6% | 18.6× | 14.9% | +16.0% |
| Chongqing Sanfeng Environment 601827.SS | China | $2.00B | -3% | +5% | 27% | 10.4× | -11.4% | +2.4% |
| CSSC Science & Technology 600072.SS | China | $1.99B | -35% | +8% | -37% | n/a | n/a | n/a |
| Sanki Engineering 1961.T | Japan | $1.98B | -12% | +2% | 12% | 11.5× | -6.5% | +6.0% |
| Monadelphous MND.AX | Australia | $1.98B | -4% | +29% | 5% | 22.7× | 5.3% | +9.7% |
| Koninklijke Heijmans HEIJM.AS | Netherlands | $2.55B | -7% | +11% | 6% | 13.5× | 3.9% | +9.7% |
| NRW NWH.AX | Australia | $1.95B | -17% | +31% | 6% | 13.6× | 8.5% | +14.1% |
| Shanghai Tunnel Engineering 600820.SS | China | $2.56B | -9% | -9% | 6% | 8.0× | -0.6% | +1.4% |
| HAZAMA ANDO 1719.T | Japan | $1.94B | -11% | +4% | 8% | 9.8× | -11.7% | +4.5% |