ALFA Finder
| Agency Charge | 5%Project Management Fee |
|---|---|
| Market Cap | ₹21,632.4 CrMid-cap |
| Order Book | ₹1.26 L CrAs of Sep 2026 |
| P/E TTM | 27.19Sector: 33.53 |
Key highlights
- MoUs signed with six specific urban authorities including KMDA and Howrah Municipal Corporation
- Projects include redevelopment of College Street and China town at Tangra in Kolkata
- NBCC to receive 5% agency charges over and above the actual cost of projects
- Engagement includes riverfront development at Chandannager, Howrah, and Nabadwip
- Consolidated order book stood at ₹1,26,181 crore as of September 30, 2026
| . | |
|---|---|
| . | |
| . | |
| . |
Strategic Mandates Under The West Bengal Agreement
NBCC (India) Ltd has formalised its partnership with the West Bengal Department of Urban Development & Municipal Affairs (UD & MA) in the presence of Smt. Agnimitra Paul and CMD Shri K. P.
Mahadevaswamy. The scope of work spans redevelopment and feasibility studies across critical urban hubs. Notable projects include the redevelopment of the College Street area and China Town at Tangra for the Kolkata Metropolitan Development Authority, and the redevelopment of government housing in the BMC area.
These initiatives are expected to enhance urban infrastructure while generating steady fee-based revenue for NBCC.
Breakdown of Authority-Specific Projects
- Kolkata Metropolitan Development Authority: Redevelopment of College Street area and China town at Tangra
- Chandernagore Municipal Corporation: River front development at Chandannager
- Department of UD & MA: Feasibility study with redevelopment of Govt. housing in BMC area
- State Urban Development Agency: Public toilets across various urban areas
- Howrah Municipal Corporation: Development of River Ghat at Howrah
- Nabadwip Municipality: Development of River Ghat at Nabadwip
Deposit Work Model And Revenue Terms
The execution of these projects will follow the Deposit Work Basis model. Under this arrangement, NBCC is insulated from cost fluctuations as it will be reimbursed for the actual project costs. In addition to cost recovery, the company will be paid an agency charge of 5% of the actual project cost, excluding GST.
This low-risk execution model is a core part of NBCC's business strategy, ensuring project management fees without significant capital exposure. While project-specific costs were not detailed in the filing, management indicated that these details would be provided as individual projects are formalised.
Expanding Order Inflows and Financial Momentum
The West Bengal MoUs add to a series of significant wins for NBCC, which recently signed a ₹2,000 crore MoU with the Bihar government on November 2, 2026, for redevelopment projects in Patna. For the quarter ended September 30, 2026, NBCC reported a 16.69% year-on-year growth in operating revenue to ₹3,395.78 crore and a 34.45% increase in net profit to ₹206.41 crore. The company maintains an aggressive growth target with management guiding for fresh order inflows of approximately ₹50,000 crore for the current fiscal year, supporting its massive ₹1.26 lakh crore order book.
| Date | Announcement | Amount |
|---|---|---|
| 02 Nov 2026 | MoU with Government of Bihar to undertake four redevelopment projects in Patna under Phase-ISource: BSE filing | ₹2,000.00 Cr |
| 28 Aug 2026 | MoU with NHPC Limited for pan-India execution of infrastructure projects at 5.5% PMC feesSource: BSE filing | – |
| 23 Dec 2025 | MoU with Board of Mumbai Port Authority for turnkey development of CGO Complex on 25 acresSource: indianmandarins.com | – |
| 07 Nov 2025 | MoU with Pantheon Elysee Real Estate Development LLC to co-develop real estate projects across the UAESource: m.thewire.in | – |
| 06 Nov 2025 | MoU with Goldfields Commercials PTY Ltd to develop real estate and infrastructure projects in AustraliaSource: BSE filing | – |
| 30 Jul 2025 | MoU with Department of Posts to redevelop postal land parcels across India on a self-sustainable modeSource: BSE filing | – |
What to watch next
- Disclosure of specific project costs for the West Bengal MoUs as they are finalised
- Payment of the 2nd interim dividend of ₹0.25 per share by December 11, 2026
- Updates on the execution of the ₹2,000 crore Bihar redevelopment projects
- Q3 FY27 financial results announcement expected in February 2027
| Share price | ₹80.12 |
|---|---|
| Market capitalisation | ₹21,632.40 Cr |
| Revenue (annual) | ₹12,888.61 Cr |
| Net profit (annual) | ₹720.03 Cr |
| Revenue (latest quarter) | ₹3,395.78 Cr+50.29% vs previous quarter |
| Net profit (latest quarter) | ₹206.41 Cr+33.31% vs previous quarter |
| P/E (TTM) | 27.19×Sector 33.53× |
| Promoter holding | 61.75%0.00% QoQ |
| FII holding | 4.39%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by NBCC (India) Ltd announcing the signing of MoUs with various West Bengal authorities. Market figures from a third-party data provider.
