NBCC India Ltd., a leading government-owned construction and real estate company, announced its Q2 FY2025-26 financial results with significant growth in key areas. The company reported robust earnings with a net profit increase of 26% year-on-year, reflecting its strong business execution and growing project portfolio.
Profit and Revenue Growth
In the quarter ended September 2025, NBCC witnessed a net profit of ₹153.5 crore, up from ₹122 crore in the same quarter last year. This profit rise is a positive indicator of operational efficiency and project delivery prowess. Total revenue during the quarter surged by 19% to ₹2,910.20 crore, compared to ₹2,445.73 crore in Q2 FY24-25. The revenue growth was primarily driven by the Project Management Consultancy (PMC) segment, whose income jumped over 30% year-on-year to ₹2,835.94 crore.
Segment Performance
The PMC segment remains NBCC’s core strength, contributing the majority of earnings and exhibiting strong upward momentum. However, the Engineering, Procurement, and Construction (EPC) segment faced challenges, with revenues dipping by 68% to ₹67.4 crore. The real estate division also experienced a sharp decline, with a 91.88% drop to ₹4.66 crore in revenues for the quarter. These segmental variations indicate NBCC’s focus is solidly on its PMC business amid a tricky real estate market.
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Profitability Metrics
Earnings before interest, tax, depreciation and amortization (EBITDA) stood at ₹101 crore, maintaining steady growth albeit with a slight contraction in margins to 3.5% versus 4.08% last year. The EBITDA margin contraction signals some cost pressures, even as top-line expands, which NBCC would likely target for improvement in coming quarters.
Dividend Declaration
Reflecting confidence in its financial health, NBCC’s board declared a second interim dividend of ₹0.21 per share, representing a 21% payout on the face value of ₹1 per equity share. The dividend record date is November 19, 2025. This move is positive for shareholders seeking regular income from investments in PSUs.
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Market Reaction and Outlook
NBCC’s shares reacted modestly to the results announcement, with a slight dip of around 2.7%, closing near ₹109 per share. Despite the short-term dip, the stock has shown an approximate 18% gain year-to-date. The company’s market cap stands at roughly ₹29,457 crore.
Overall, the NBCC Q2 results report strong revenue and profit growth driven by the PMC business, healthier shareholder returns through dividends, and cautious optimism amid segmental revenue disparities. NBCC continues to be a key player in India’s infrastructure construction landscape, backed by government ownership and steady order book growth.
