News: NCC has received six new orders aggregating to Rs 3344 crore (excluding GST) in April 2023. Out of these orders, three valued at Rs 2,506 crore were related to buildings division, two orders valued at Rs 538 crore were related to the electrical division while one order valued at Rs 300 crore was related to the water division
View: We highlight that NCC's order book at the end of Q3FY23 on a standalone basis was at an elevated level of Rs 39,863 crore (3.2x order book to TTM bill ratio). The company has received orders worth Rs 18600 crore in FY23, which will drive ~18% topline CAGR over FY22-25 along with margins improvement
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