National Buildings Construction Corporation Ltd. (NBCC), a Schedule ‘A’ Mini Ratna, CPSU under the Ministry of Urban Development, Govt. of India, has posted a net profit of Rs.257 crore, an increase of more than 24% as compared to the last FY 2012-13.
While total income rose to Rs.4098 crore, a growth of 25.71%, net worth of the company has touched Rs.1141 crore for the current fiscal. The announced performance is based on the Audited Financial Results of the Company that were taken on record at the meeting of the Board of Directors held on May 26, 2014 in New Delhi.
Anoop Kumar Mittal, CMD, NBCC, while reading out the audited results, said that Board of Directors of NBCC at its meeting have also recommended dividend of Rs.5/- per equity share amounting to Rs. 60.00 crore for the FY 2013-14 against Rs.45 Crore last year. This equity share excludes dividend distribution tax of Rs.10.20 Crore.
Talking to the media, Dr. Mittal revealed that NBCC’s future road map envisaged a quantum jump in Real Estate revenue as it planned to vigorously pursue execution of quite a number of Real Estate projects, capitalizing on its already existing huge land reserves pan India.
Dr. Mittal also informed that with the huge success of NBCC’s initiatives in the Re-development of Government Properties such as New Moti Bagh, GPRA
Complex in New Delhi, many State Governments of the country had approached NBCC for implementation of similar such re-development projects in their states and a few of these are at an advance stage of finalization. Dwelling upon other areas of operation with regard to multiplying the top line and bottom line of the company in the coming years,
Dr. Mittal said that NBCC was extensively exploring the possibilities of project exports in countries like Oman, Botswana & their neighbouring countries. In this context, he mentioned about the recent signing of an MoU by NBCC with Al Naba Services LLC of the Sultanate of Oman, in order to grab infrastructure projects in those countries.