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NBCC India expects ₹50,000-60,000 crore order inflow in FY27; plans to monetise 54-acre land bank

The company expects its consolidated order book to reach about ₹1.80-2 lakh crore by the end of FY27. It is also looking at projects worth around ₹10,000 crore each in West Bengal and Bihar, while ₹9,600 crore of Supertech works are targeted for award during Q3 FY27.

The five GPRA projects are currently under process and could be awarded either during Q3 or Q4 FY27, according to the management. The company is also expecting another government work order of around ₹8,000 crore during the current quarter.

Its consolidated order book stood at approximately ₹1.26 lakh crore at the end of H1 FY27. Management expects the order book to increase to around ₹1.80-2 lakh crore by the end of the financial year as the proposed large orders get converted.

Supertech projects worth ₹9,600 crore targeted for award in Q3

It has uploaded tenders for all packages of its Supertech projects, aggregating approximately ₹9,600 crore, and expects to award these during Q3 FY27. Revenue contribution from these works is expected to begin from Q4.

Overall, the company is targeting the award of about ₹15,000-16,000 crore of works during FY27, including Supertech and projects in Jammu & Kashmir. Management indicated that this figure could increase further if projects in Bihar and West Bengal are converted into execution during the year.

Jammu & Kashmir projects worth around ₹2,000 crore are also expected to be awarded, while the company expects its value of projects under execution to reach approximately ₹40,000 crore at the consolidated level by the end of FY27.

West Bengal opportunity estimated at ₹10,000 crore

NBCC has signed nine memoranda of understanding with various departments in West Bengal and estimates the potential work arising from these agreements at around ₹10,000 crore.

The projects include urban development and redevelopment works involving state departments and Kolkata Municipal Corporation. Management said proposed works include riverfront development, residential quarters for IAS and IPS officers, libraries and other urban infrastructure projects.

In Bihar, it expects projects worth around ₹10,000 crore during the current financial year. These include four redevelopment projects, according to management. The company has already secured an initial tranche of work from the state and expects another phase worth approximately ₹8,000 crore during the current quarter.

Sector 37-D sales likely to start in January 2027

It plans to launch sales at its sector 37-D project around the second half of January 2027. Work has already been awarded, the contractor has mobilised at the site and piling activity has commenced, management said.

For the Ghitorni project, the final agreement with the Delhi government and shareholder agreement are under process. The company expects these to be executed by the end of December 2026.

A consultant tender has already been called and is under evaluation. Itexpects planning and execution to start after completion of the agreements, with construction targeted to commence next year. The project comprises about 4-4.5 lakh sq ft.

Dubai project sales targeted by January 2027

It is also preparing to launch its real estate project in Dubai. The company has obtained project approvals and its designs and drawings have been approved. It expects to hold the groundbreaking ceremony by the end of November or the first week of December.

Sales are expected to begin in phases, with the first phase targeted for launch by the end of December 2026 or January 2027. Revenue, however, will be recognised only after completion and possession of the project.

NBCC plans to monetise 54-acre land bank

The company is also stepping up monetisation of its land assets. It has approximately 54 acres of land recorded in its books at around ₹720 crore, while an IBBI-registered valuer has estimated the portfolio's value at more than ₹1,600 crore.

As part of the monetisation programme, it has sold two land parcels in Jaipur for an aggregate value of around ₹433 crore against a book value of approximately ₹195 crore.

Two additional land parcels in Meerut and Ghaziabad are in the auction process, while the company plans to put more land on sale in the next financial year.

Management expects the two Jaipur transactions to generate an aggregate profit of approximately ₹239 crore, which will be recognised over the next two quarters.

Scindia Marg, Vinayak Mandir Marg sales could fetch ₹8,000-10,000 crore

NBCC is also planning bulk sales at Scindia Marg and Vinayak Mandir Marg during Q4 FY27. Management estimates the combined sale value of the two assets at approximately ₹8,000-10,000 crore. NBCC earns a 1% marketing fee on such sales.

The company expects another approximately ₹100 crore of marketing fee income during H2 FY27 and has indicated that this could increase to around ₹250 crore in the next financial year.

Mumbai Port Trust project to shift to redevelopment model

It said the proposed Mumbai Port Trust project is now being considered under a self-sustainable redevelopment model instead of the earlier project management consultancy model. Work worth less than ₹100 crore has already been awarded, while the remaining development is in the pipeline.

Under the proposed structure, NBCC would monetise built-up space generated through redevelopment instead of selling the underlying land, allowing the project to fund itself.

The company also expects the delayed MAHAPREIT project to start during FY27, while HUDCO funding for the project remains under process. Tendering for Naveen Nagpur is targeted for the final quarter of the financial year.

FY28 revenue seen at ₹20,000-21,000 crore

NBCC expects consolidated revenue of around ₹16,000-17,000 crore in FY27. For FY28, management has guided for a top line of approximately ₹20,000-21,000 crore and profit after tax of around ₹1,500 crore.