NBCC (India) Limited has informed the Exchange regarding Corrigendum to the Audited Financial Results (Standalone) for the quarter and financial year ended March 31, 2025
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NBCC submitted a corrigendum because Notes 12-18 to the standalone audited results were accidentally left out in the May 29 filing. Key FY25 numbers: Revenue from Operations rose ~8.7% to Rs. 8,72,535.55 Lakh, while Net Profit jumped ~38% to Rs. 47,611.11 Lakh (from Rs. 34,436.26 Lakh), translating to EPS of Rs. 1.76 vs Rs. 1.76. Total dividend for FY25 is Rs. 0.67 per share, up from Rs. 0.63, on the enlarged share base post the 1:2 bonus issue in Oct 2024. The auditor issued an unqualified opinion, but highlighted several Emphasis of Matter items: a Rs. 8,015.53 Lakh exceptional write-down of the stuck Kochi housing project after a Supreme Court order, additional Rs. 1,580.38 Lakh provision for the troubled Gurugram Green View project (cumulative provisions Rs. 46,882.51 Lakh), a GST demand of Rs. 9,072 Lakh under stay, and a DVAT demand of Rs. 40,480 Lakh remanded back. The Board also did not have the required number of Independent Directors for most of FY25, with committees reconstituted only in May 2025.
Despite a strong headline PAT jump driven by lower exceptional charges vs FY24, the underlying real estate segment continues to bleed with large stuck-project write-downs and ongoing litigation exposure. Shareholders should note the recurring provisioning on legacy projects and significant contingent tax liabilities, though core PMC and EPC businesses remain profitable and cash flows are robust.