NCC Limited reported a 12% year-on-year increase in consolidated total income to ₹5,842.48 crore for the quarter ended June 30, 2026 (Q1FY27), driven by improved execution momentum across its seven business verticals. The Hyderabad-based construction major saw its consolidated net profit attributable to shareholders rise to ₹216.40 crore, up from ₹192.14 crore in the same quarter of the previous year. Consolidated EBITDA margin expanded significantly to 9.37% (rounded to 9.4% in management commentary) from 4.95% in Q1FY26, reflecting a disciplined approach to project selection and cost management.

The Board of Directors approved the unaudited financial results on August 6, 2026, following review by the Audit Committee and statutory auditors S.R. Batliboi & Associates LLP under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. An analyst/investor conference call was held on August 7, 2026, to discuss the results and strategic outlook. The company highlighted that its AA- credit rating was reaffirmed during the quarter, underscoring its stable credit profile and prudent capital management.

Financial Performance Highlights

Consolidated revenue from operations stood at ₹5,811.83 crore, up from ₹5,178.99 crore in Q1FY26. Other income increased to ₹30.65 crore from ₹28.94 crore in the prior year period. On a standalone basis, revenue from operations grew to ₹4,911.50 crore from ₹4,378.33 crore in the previous year. Total standalone income reached ₹4,952.45 crore. The company reported basic and diluted earnings per share (EPS) of ₹3.45 on a consolidated basis and ₹2.98 on a standalone basis for the quarter.

Order Book and Segment Composition

The company secured new orders aggregating to ₹3,889 crore during the quarter, bringing the consolidated order book to ₹81,214 crore as of June 30, 2026. This represents a book-to-bill ratio of approximately 3.5x, compared to ~4x in FY26. The order book is well-diversified across Buildings (28%), Transportation (20%), Mining (14%), Electrical (T&D) (16%), Water & Railways (6%), and Irrigation & Others (16%).

Order inflow was led by the Water & Railways segment (36%), followed by Electrical (T&D) (34%), Mining (18%), Transportation (10%), and Buildings (2%). In terms of order execution, the Buildings segment contributed the largest share at 31%, followed by Transportation (23%), Electrical (T&D) (12%), Water & Railways (16%), Mining (3%), and Irrigation & Others (15%).

Subsidiary Performance and Working Capital

Pachhwara Coal Mining, where NCC holds a 51% stake, reported revenue of ₹715 crore and profit before tax of ₹28 crore for Q1FY27, contributing 12% to group revenue. NCC Urban Infrastructure, an 80%-stake subsidiary, reported revenue of ₹56 crore and profit after tax of ₹7 crore.

Working capital management remains a key priority. Standalone net debt increased to ₹2,008 crore from ₹1,667 crore in Q4FY26, while consolidated net debt rose to ₹3,513 crore from ₹2,815 crore. However, receivable days improved to 68 days from 73 days in FY26, indicating better collection efficiency. Net worth stood at ₹7,761 crore on a standalone basis.

What the Numbers Show

A notable divergence exists between standalone and consolidated profitability trends. While standalone net profit declined slightly YoY (from ₹189.99 crore to ₹187.31 crore), consolidated net profit grew by over 12%, suggesting that subsidiaries and joint ventures contributed significantly to bottom-line growth. The sharp expansion in EBITDA margin — from 4.95% to 9.37% — points to improved operational efficiency or a more favourable project mix during the quarter. Management emphasized quality of earnings over volume, supported by a diversified order book providing multi-year revenue visibility.

NCC announced the securing of three new orders with a combined value of ₹10.53 billion during July. The order wins span multiple segments of the company's operations, contributing to its overall order book.

Order Details

The following table summarises the key details of the newly secured orders:

Significance of the Order Wins

The receipt of these three orders during July underscores NCC's continued ability to secure new business across its construction segments. With a combined value of ₹10.53 billion, these additions are expected to strengthen the company's order book. The order wins reflect ongoing demand for construction and infrastructure services in which NCC operates.