NBCCNSENovember 22, 2022

NBCC (India) Limited

4,052words
92turns
10analyst exchanges
3executives
Management on call
P.K. G Director
NBCC
Pradeep Engineering Mr. Balkishan Eshma Dudani
EXECUTIVE DIRECTOR, E
Anshuman Td. Nshuman Ashit
ICICI SECURITIES LTD
Key numbers — 40 extracted
INR 1,603 crore
s of second quarter of current financial year. And we have been able to achieve a total income of INR 1,603 crores and INR 130 crore PBT at standalone level, which is substantially higher than previous year's sa
INR 130 crore
f current financial year. And we have been able to achieve a total income of INR 1,603 crores and INR 130 crore PBT at standalone level, which is substantially higher than previous year's same quarter results.
18%
e level, which is substantially higher than previous year's same quarter results. Total income is 18% higher and PBT is 54% higher as compared to previous year same quarter results. On consolidated
54%
tantially higher than previous year's same quarter results. Total income is 18% higher and PBT is 54% higher as compared to previous year same quarter results. On consolidated level, your company i
INR 2,074 crore
d to previous year same quarter results. On consolidated level, your company is able to achieve INR 2,074 crores as a total income and INR 131 crores PBT, which is 8% higher as compared to last year and PBT 36
INR 131 crore
ts. On consolidated level, your company is able to achieve INR 2,074 crores as a total income and INR 131 crores PBT, which is 8% higher as compared to last year and PBT 36% higher as compared to last year. So
8%
ur company is able to achieve INR 2,074 crores as a total income and INR 131 crores PBT, which is 8% higher as compared to last year and PBT 36% higher as compared to last year. So there is a substa
36%
res as a total income and INR 131 crores PBT, which is 8% higher as compared to last year and PBT 36% higher as compared to last year. So there is a substantial improvement. Our standalone order book
INR 45,000 crore
year. So there is a substantial improvement. Our standalone order book stand as on date is around INR 45,000 crores and consolidated order book stands at INR 55,000 crores. And ongoing work at consolidated leve
INR 55,000 crore
one order book stand as on date is around INR 45,000 crores and consolidated order book stands at INR 55,000 crores. And ongoing work at consolidated level are INR 20,600 crores. During the year 2022-2023, the cu
INR 20,600 crore
consolidated order book stands at INR 55,000 crores. And ongoing work at consolidated level are INR 20,600 crores. During the year 2022-2023, the current financial year, we have secured a total business of INR
INR 1,200 crore
rores. During the year 2022-2023, the current financial year, we have secured a total business of INR 1,200 crores till now. And on a consolidated level, we have secured a business of INR 1,720 crores till now.
Advertisement
Guidance — 20 items
Anshuman Ashit
opening
“The call will start with brief opening remarks from the management, which will be followed by the Q&A session.”
P.K. Gupta
opening
“In our flagship project of World Trade Center, Nauroji Nagar, there is a substantial improvement in the sale.”
P.K. Gupta
opening
“And total sales in this project till now has been INR 5,500 crores.”
P.K. Gupta
opening
“The total inventory in this project is INR 1,400 crores.”
P.K. Gupta
opening
“Our another flagship project, Amrapali is going on very well.”
P.K. Gupta
opening
“And some of the major works which are in pipeline are redevelopment and modernization of government of India press through self- financing model at Maya Puri in New Delhi, Redevelopment of the Residential colony near Inderpuri and Loha Mandi, for IARI New Delhi, this will be costing INR 1,000 crores.”
P.K. Gupta
opening
“Our another flagship project in Maldives, which is a social housing project costing INR 1,000 crores is going on very well.”
P.K. Gupta
opening
“And we have achieved a substantial turnover and hope to complete it by the targeted date.”
Rohit Natarajan
qa
“Sir, my first question is to do with the notes to accounts that the auditors have flat towards the this particular Sector 37D Gurugram project edition project.”
B.K. Sokhey
qa
“Sokhey Director Finance and NBCC TheGurugram, project, 37D and we have already disclosed in our earlier previous year results also.”
Risks & concerns — 2 flagged
And the impact of the loss has been considered in the books already.
— B.K. Sokhey
Madam, is there any impairment risk that you foresee there?
— Anshuman Ashit
Advertisement
Q&A — 10 exchanges
Q
Sir, my first question is to do with the notes to accounts that the auditors have flat towards the this particular Sector 37D Gurugram project edition project. Could you throw some light as in what exactly is the situation over there? What sort of development does it impact on your financials?
B.K. Sokhey
Rohit, I'm Mrs. B.K. Sokhey Director Finance and NBCC TheGurugram, project, 37D and we have already disclosed in our earlier previous year results also. And the impact of the loss has been considered in the books already. And there is a likelihood of no further loss to be booked in the coming quarters. So we have also given the offers to our allottees for the refund of the money, which they have paid to us. And there are some allottees who have also come forward and we have refunded them also the money, which is given by them, but there are some NBCC (India) Limited November 16, 2022 allottees
Q
So my first question is on the order book split. So you said we have about INR 55,000 crores orders at the consolidated level. What would be the split between PMC and redevelopment works here? P.K, Gupta: Out of this INR 55,000 crores, INR 45,000 crores of NBCC and INR 10,000 crores is a subsidiary. So out of INR 45,000 crores of NBCC, it's roughly 50-50% is of redevelopment and around INR 23,000 crores and 50% is of PMC, around INR 22,000 crores. And for subsidiaries, it's 100% PMC only. Subsidiariesdon't do any redevelopment projects, all are PMC.
Parvez Qazi
Sure. In terms of guidance for FY '23, what is the kind of EBITDA margin that we are likely to see for the full year? The EBITDA margin, which we have achieved now, we are expecting at the same levels for this year also. In this quarter, what we have achieved, we are expecting the same levels. Sure. And lastly, in terms of seed money, what is the total money that stand still date? And how much interest we have booked and received. As regards to the seed money in respect of this seven-development project, we have invested INR 908 crores and interest accrued on the same is INR 242 crores as of t
Q
Sir, we were targeting close to INR 2,300-odd crores from Amrapali and INR 3,700 crore kind of number in FY '24. What is the realization till date in Amrapali projects? And is that number impact for FY '21 as well... P.K, Gupta: Yes. you want to know the realization from Amrapali?
Rohit Natarajan
In FY '23, the target till date realization target and for FY ’24. P.K, Gupta: Till total work done in Amrapali till now until September 2022 is INR 3,400 crores and INR 4,700 crores is the remaining one and 6,000 number of houses have been completed. In the current financial year, we have done the work worth INR 717 crores. And further, we plan to do work worth around INR 1,000 crores in the two quarter, quarter 3 and quarter 4. And balance work, we are planning to complete in the next financial year. So balance work will be roughly INR 3,000 crores that we plan to complete in the next financ
Q
The first question is, sir, what has been the quantum of cancellation during this quarter? B.K Sokhey
B.K Sokhey
Cancellation of what? Order cancellation? There is no cancellation of orders. So it was around INR 3,000 crores in the first quarter, none in this quarter? Yes. Yes. Sir, just confirming on the margin guidance. So in the last quarter, we had a margin of 3.5% this quarter, we had 5.4%. So we are sticking with the 5.4% number for the full year? Yes. Actually, it is basically because of the increase in the turnover by the 20% and further the sale of our real estate project at Bhubaneswar and at Sector 89, in Gurugram, likewise. So we are hopeful of the same level of margin for the year end also.
Q
Yes. So one book-keeping question. So out of this total cash balance of INR 5,000 crores INR 5058 crores, how much is our own cash in this?
B.K Sokhey
It is on the consolidated basis, the INR 5,200 crores cash balance. And out of that, the own funds are approximately INR 800 crores, basically mainly belongs to HSCL and NBCC's own funds are around INR 200 crores. So consol is INR 800 crores, which is our…
Q
My question is related to real estate segment.
Management
Q
Yes. Am I audible?
Management
Q
Yes. So will it okay now?
Management
Q
Yes. So the question is related to the real estate segment. I mean, since we are expecting some 5% kind of margin this year and large part is contributed by real estate as well, so what is the kind of revenue booking that we are expecting in the second half from the real estate segment? And what would be the expected margin?
P.K. Gupta
We have two projects in real estate sector, which we have to sell, Bhubaneswar commercial and Calcutta commercial. Now after the pandemic is over, the sale of commercial real estate is picking up, and we are aggressively advertising these two projects. And hopefully, will be getting more revenue than what was received in NBCC (India) Limited November 16, 2022 the current front, till now in this financial year. And in the Sector 89 projects ours, only 12 flats are left for sale. And that also, we plan to wind up during the current financial. And in terms of figure? And how much capital that is,
Q
Okay. I'll dwell up on some positives, which are likely to come up in the coming quarters. Number one of them is that real estate sales are picking up significantly and we plan to launch our real estate project, Patna and Coimbatore and then we have 3 land banks in Jaipur that we also we are planning to construct and we are planning and designing has been taken up. Amrapali project contribution is likely to increase as we have to sell around 9,000 to 10,000 houses in Amrapali project and the sale is picking up now with the coming up of real estate market. And redevelopment projects also for sa
Management
Speaking time
B.K Sokhey
17
P.K. Gupta
16
Anshuman Ashit
14
Pankaj Kumar
13
Moderator
12
Rohit Natarajan
11
Parvez Qazi
3
Subhankar Ojha
2
Pradeep Sharma
2
B.K. Sokhey
1
Advertisement
Opening remarks
Anshuman Ashit
Thank you, Steve. Good afternoon, everyone. On behalf of ICICI Securities, I welcome you all to the Q2 FY '23 Earnings Call of NBCC India Limited. Today, we are very pleased to host the senior management of the company, which is represented by Mr. P.K. Gupta, Chairman and Managing Director; Smt. B.K. Sokhey, Director-Finance; Shri Rajendra Chaudhari, Senior Executive Director, Engineering; Ms. Reshma Dudani, Executive Director, Engineering; and Mr. Pradeep Sharma, Chief General Manager, Engineering. The call will start with brief opening remarks from the management, which will be followed by the Q&A session. I will now hand over the call to CMD sir for his opening remarks. Thank you, and over to you, sir.
P.K. Gupta
Very good afternoon and a very warm welcome to all the participants in the investor conference of NBCC. I'm very happy to announce the results of second quarter of current financial year. And we have been able to achieve a total income of INR 1,603 crores and INR 130 crore PBT at standalone level, which is substantially higher than previous year's same quarter results. Total income is 18% higher and PBT is 54% higher as compared to previous year same quarter results. On consolidated level, your company is able to achieve INR 2,074 crores as a total income and INR 131 crores PBT, which is 8% higher as compared to last year and PBT 36% higher as compared to last year. So there is a substantial improvement. Our standalone order book stand as on date is around INR 45,000 crores and consolidated order book stands at INR 55,000 crores. And ongoing work at consolidated level are INR 20,600 crores. During the year 2022-2023, the current financial year, we have secured a total business of INR 1
Advertisement
← All transcriptsNBCC stock page →