NBCC (India) Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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NBCC reported standalone revenue from operations of Rs. 2,087.54 crore for Q3 FY26 (up ~2.8% YoY) and Rs. 5,841.56 crore for 9M FY26 (up ~5.9% YoY). Standalone PAT rose to Rs. 196.60 crore in Q3 (up ~53% YoY) and Rs. 338.92 crore for 9M (up ~92% YoY). On a consolidated basis, revenue grew to Rs. 3,022.39 crore in Q3 (~7.6% YoY) and Rs. 8,328.82 crore for 9M (~12.6% YoY), with consolidated PAT at Rs. 197.22 crore (Q3) and Rs. 488.94 crore (9M, up ~30% YoY). A large part of the headline PAT jump comes from a one-time exceptional reversal of Rs. 80.16 crore relating to the Kochi real estate project after the Supreme Court recalled its earlier judgment in November 2025. The auditors flagged several emphasis of matters, including pending land/conveyance deeds (Naya Raipur, Faridabad, NBCC Plaza), the NBCC Green View Gurugram project (cumulative provisions of Rs. 468.83 crore and a Rs. 750 crore recovery suit), and a DVAT demand of Rs. 404.80 crore. The Board also noted a regulatory non-compliance: it does not have the requisite number of Independent Directors, including an Independent Woman Director.
Headline PAT growth looks strong but is significantly boosted by a non-recurring exceptional reversal; underlying operational growth is more modest. Ongoing litigations (especially NBCC Green View and DVAT) and the lack of required Independent Directors remain overhangs for shareholders.