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Entry Price

32.00

Target

35.00

Recommend Date

17-02-2021

Return

9.38 %
BUY

Date : 17-02-2021

NBCC witnessed a decent recovery in the overall performance in Q3FY21 YoY and QoQ but is still far away from its normalised show of FY17, FY18. During Q3FY21, consolidated revenue improved 9% YoY (to | 2,103.6 crore) largely driven by a pick-up in execution seen in PMC (up 10.7% YoY; contribution: 94.7%) and real estate divisions (revenue doubled; contribution: 1.5%). EBITDA margin was up 169 bps YoY at 3%. At the net level, healthy operating show coupled with lower tax outgo translated to doubling of PAT to | 94 crore.