NBCC (India) Limited has fixed August 28, 2026, as the record date for determining shareholders eligible to receive the final dividend for FY25. The Board of Directors recommended a dividend of ₹0.46 per fully paid-up equity share of ₹1 each, representing a 46% payout ratio, during its meeting on May 25, 2026. This distribution is contingent upon approval by shareholders at the company’s 66th Annual General Meeting (AGM).

The 66th AGM is scheduled to be held on Friday, September 11, 2026, at 12:00 Noon (IST) via Video Conferencing or Other Audio Visual Means (OAVM). Remote e-voting will commence on Tuesday, September 08, 2026, at 9:00 a.m. (IST) and close on Thursday, September 10, 2026, at 5:00 p.m. (IST). Shareholders holding shares in physical or dematerialised form as of the cut-off date, Friday, September 04, 2026, are eligible to cast their votes electronically.

Dividend Payment and Tax Compliance

If approved at the AGM, the final dividend will be paid within the timeline stipulated by the Companies Act, 2013. Under SEBI mandates effective from April 1, 2024, dividends for shareholders holding shares in physical mode must be paid electronically. These shareholders must update their PAN, nomination, contact details, bank account information, and specimen signature with the Registrar and Transfer Agent, Alankit Assignment Limited, using form ISR-1 available on the company website.

Regarding tax implications, dividends distributed after April 01, 2020, are taxable in the hands of shareholders under the Income Tax Act, 1961, as amended by the Finance Act, 2020. Consequently, NBCC (India) Limited is required to deduct tax at source (TDS) at the time of payment. To claim exemption from TDS, shareholders must submit the requisite documents prescribed under the Income Tax Act, 1961, via email to dividend.tax@nbccindia.com on or before Saturday, September 05, 2026.

Key Dates and Details

The dividend recommendation reflects the Board’s assessment of the company’s financial performance for FY25. The final approval rests with the shareholders, who will vote on this resolution alongside other agenda items at the upcoming AGM.

NBCC (India) Limited reported a consolidated net profit of ₹15,800.81 lakh for Q1, up from ₹13,503.27 lakh in the same quarter of the previous year, beating the estimated ₹1.5B. EBITDA came in at ₹1.5B versus ₹1.1B year-on-year, with EBITDA margin expanding significantly to 8.7% from 4.61%. The strong bottom-line performance was driven by the Project Management Consultancy segment, even as consolidated revenue from operations moderated year-on-year. Alongside the financial results, the Board declared an interim dividend of ₹0.15 per paid-up equity share for the financial year 2026-27, with August 17, 2026 fixed as the record date.

The Board also approved the unaudited standalone and consolidated financial results pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statutory auditors D.K. Chhajer & Co. expressed an unmodified conclusion on the statements. Additionally, the Board accorded in-principle approval for incorporating a wholly owned subsidiary as a Special Purpose Vehicle (SPV) to undertake activities necessary for a Real Estate Investment Trust (REIT), subject to approval from the Ministry of Housing and Urban Affairs and the Department of Investment and Public Asset Management (DIPAM).

Financial Performance

Consolidated revenue from operations stood at ₹2,25,952.87 lakh, compared to ₹2,39,248.75 lakh in the corresponding quarter of the previous year. Standalone revenue from operations was ₹1,82,303.58 lakh, up from ₹1,65,676.85 lakh year-on-year. The Project Management Consultancy (PMC) segment remained the primary revenue driver, contributing ₹2,15,570.96 lakh to consolidated revenues. The following table summarises key financial metrics across both reporting bases:

The PMC segment generated a profit before tax and interest of ₹19,376.57 lakh on a consolidated basis. In contrast, the Engineering, Procurement & Construction (EPC) segment reported a loss of ₹413.18 lakh, while the Real Estate segment contributed ₹2,533.50 lakh to profits before tax and interest.

Key Disclosures and Litigation

The auditor's report highlighted several emphasis of matters regarding ongoing regulatory and legal challenges. The NBCC Green View project in Gurugram, which faced structural defects, continues to incur costs. The company has recognized cumulative provisions and write-offs totaling ₹46,882.51 lakh as exceptional items. A recovery suit for ₹75,000 lakh is pending against the construction contractor, Ramacivil India Construction (P) Ltd., alongside 18 other litigations from allottees.

Regarding the Group Housing project in Kochi, Kerala, the inventory carrying value remains at ₹8,700.91 lakh. The project had previously been written down by ₹8,015.53 lakh due to Environmental Clearance (EC) issues following a Supreme Court order in May 2025. However, this loss was reversed in FY26 after the Court recalled its judgment in November 2025. The company is now approaching the State Expert Appraisal Committee for EC grant per directions issued in July 2026.

Other material disclosures include:

• Naya Raipur Plot: Lease deed execution for a group housing plot valued at ₹2,099.37 lakh remains pending between the owners' association and the Naya Raipur Development Authority.
• Faridabad Land: Conveyance deed execution for land valued at ₹13,216.54 lakh is delayed due to pending Forest Department No Objection Certificates.
• NBCC Plaza: Construction work is on hold pending Municipal Corporation of Delhi's building plan approval, amid a dispute over additional Floor Area Ratio charges of ₹3,224.45 lakh.
• Governance Compliance: The Board does not currently comprise the requisite number of Independent Directors, including an Independent Woman Director, as required under Regulation 17 of the SEBI Listing Regulations. Similar non-compliances were noted for the Audit Committee and Nomination and Remuneration Committee compositions.

What the Numbers Show

The significant expansion in EBITDA margin to 8.7% from 4.61% year-on-year reflects improved operational efficiency, particularly within the core PMC business. The divergence between standalone and consolidated profitability highlights the impact of subsidiaries and joint ventures, with the EPC segment's losses partially offsetting gains from PMC. Real estate projects continue to face prolonged regulatory headwinds, while the proposed REIT structure signals a strategic intent to unlock value from the company's asset base.