Anoop Mittal builds up NBCC’s FY15 profit by 8%, turnover by 15%

NBCC, a Schedule ‘A’ Navratna CPSE under the Union Ministry of Urban Development and a State-owned construction giant, registered a 15 per cent growth in turnover from Rs 4,038 crore  to Rs 4,633 crore in 2014-15. Addressing the 55th NBCC annual general meeting (AGM) in New Delhi, Chairman & Managing Director Dr Anoop Kumar Mittal said NBCC’s EBITA margin increased from Rs 371.53 crore to Rs 433.09 crore and profit after tax (PAT) from Rs 257.45 crore to Rs 278.28 crore in 2014-15.

Giving a detailed account of the company’s performance, he informed that NBCC’s outstanding order book stood at more than Rs 25,000 crore.

Giving an outline of NBCC’s future initiatives, Dr Mittal said that these would include its major participation in the Government’s ambitious schemes such as housing for all by 2022, development of 100 Smart Cities in the country and AMRUT.  

In this context, he referred to some concrete steps already taken by NBCC as part of its preparation for involvement in the above activities, such as signing of several joint venture MoUs both at home and overseas for technology sharing, setting up of an independent and dedicated in-house department to attend specifically to smart city initiatives, and establishing of a Research & Development Centre in association with Indian Institute of Technology (IIT)-Roorkee for technology upgrade and innovation in construction activities. 

Dr Mittal also announced NBCC’s plans to launch an eCommerce enabled G2G portal to assist Government agencies in procurement and management of real estate properties, roll out a housing scheme with various stakeholder agencies of the Government towards providing houses for the poor without any financial burden on the Government and act as lenders’ engineers  to carry out valuation and monitoring of loans for timely intervention by financial institutions (FIs).