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NBCC eyes 33% revenue growth

NBCC eyes 33% revenue growth
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State-owned construction firm NBCC on Tuesday said it is targeting 33 per cent rise in standalone sales turnover at Rs 9,500 crore during the current financial year.

New Delhi: State-owned construction firm NBCC on Tuesday said it is targeting 33 per cent rise in standalone sales turnover at Rs 9,500 crore during the current financial year.

NBCC (India), a Navratna CPSE under the Ministry of Housing and Urban Affairs, has signed an initial agreement for 2019-20 with its administrative ministry.

The signed MoU outlines performance targets for the company based on various financial parameters, dynamic parameters, sector specific and enterprise specific parameters.

The MoU was signed by Housing and Urban Affairs Secretary Durga Shanker Mishra and NBCC's CMD Shiv Das Meena.

"Sales turnover of the company has been fixed at Rs 9,500 crore and operating profit has been targeted at 5 per cent of revenue from operations (net). Profit after tax has been targeted as 27 per cent of average net worth," the company said in a statement.

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