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The first two orders, one for Rs 2,822 crore and another one for Rs 2,933 crore received from the Maharashtra State Electricity Distribution Co, (MSEDCL) relating to the Advanced Metering Infrastructure (AMI) Project, to be executed on design, build, finance, own, operate, transfer (DBFOOT) basis under RDSS Scheme.
The duration of these orders is 9 years 3 months including 7 years Operation & Maintenance period and these 2 projects are required to be executed through ‘Special Purpose Vehicles'.
The third order for Rs 2,324 crore received from North Bihar Power Distribution Co is for AMI Project on DBFOOT basis. This order with duration of 9 years 3 months is required to be executed by NCC itself.
The Fourth order for Rs 319 crore received from Bangalore Electricity Supply Co, for upgradation of Distribution Automation System (DAS) with duration of 18 months.
The orders totaling to Rs 5,755 crore will form part of the subsidiary companies (SPVs) order book and balance Rs 2,643 crore remains in NCC standalone order book.
Hyderabad-based NCC is a construction company, engaged in the construction of roads, buildings, irrigation, water and environment, electrical, metals, mining and railways.
On a consolidated basis, net profit of NCC increased 33.9% to Rs 173.54 crore on 31.9% rise in net sales to Rs 4,380.39 crore in Q1 FY24 over Q1 FY23.
The scrip hit a 52-week high of Rs 176.95 in intraday today.
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