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NCC secured contracts worth ₹3,496 crore in October, covering Building, Electrical, and Water sectors. This notable achievement positively impacted NCC share price, indicating strong growth potential.
NCC Limited announced that it secured contracts valued at ₹3,496 crore in October 2024, with a diverse range of projects from central and state government agencies as well as private companies. This portfolio expansion aligns with NCC’s multi-sector presence, covering the Building, Electrical, and Water divisions. The new projects are expected to bolster the company's growth across these crucial sectors.
The Building Division received the most significant share of new contracts, valued at ₹2,694 crore. These contracts contribute to the company’s core business and will strengthen its market position in the construction sector. By expanding its Building Division projects, NCC aims to support urban development and infrastructure across various regions.
In addition to the Building Division’s contracts, the Electrical Division received ₹538 crore worth of orders, marking a significant step for NCC in enhancing the nation’s power infrastructure. The Water and Other Divisions collectively added ₹274 crore in projects, reflecting NCC’s role in the water sector’s development. These diverse contracts, with execution timelines ranging from six months to six years, demonstrate NCC’s commitment to long-term growth and infrastructure expansion.
NCC confirmed that none of the recent contracts involve related party transactions, assuring stakeholders of its commitment to ethical business practices. The company clarified that its promoters and promoter group have no vested interests in the awarding entities, ensuring a transparent contracting process.
Following the announcement of these contracts, NCC's share price saw a positive movement, closing nearly 2% higher on October 31. This uptick in the NCC share price highlights investor confidence in the company’s expanding order book and future growth prospects. The market’s response indicates a strong positive outlook for NCC, further supported by its active role in critical infrastructure projects.
With contracts worth ₹3,496 crore secured in October 2024, NCC strengthens its position across multiple sectors. The company’s continued project acquisition signals robust growth potential, positively impacting NCC share price and reinforcing its role in India’s infrastructure development.
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