NCC Limited Reports Q3 FY26 Financial Results with Order Book at ₹79,571 Crores
NCC Limited reported Q3 FY26 results with consolidated revenue of ₹4,868.29 crores and net profit of ₹122.46 crores, down from previous year due to exceptional items from new labour codes. The company secured orders worth ₹12,430 crores during the quarter, maintaining order book at ₹79,571 crores. Board approved amalgamation of subsidiary NCCIH effective February 28, 2026.
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NCC Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, approved by the Board of Directors on February 5, 2026. The engineering and construction major reported mixed performance with revenue decline but maintained profitability despite exceptional items related to new labour code implementation.
Consolidated Financial Performance
The company's consolidated operations showed revenue contraction during the quarter while maintaining operational efficiency across its diversified business segments.
Q3 FY26 Quarterly Results
| Metric | Q3 FY26 | Q3 FY25 | Change (%) |
|---|---|---|---|
| Revenue from Operations | ₹4,868.29 crores | ₹5,344.52 crores | -8.91% |
| Total Income | ₹4,900.43 crores | ₹5,382.86 crores | -8.96% |
| Net Profit (Shareholders) | ₹122.46 crores | ₹193.18 crores | -36.62% |
| Basic EPS | ₹1.95 | ₹3.08 | -36.69% |
| EBITDA | ₹436.24 crores | ₹440.90 crores | -1.06% |
Nine Months Performance
For the nine months ended December 31, 2025, consolidated revenue from operations was ₹14,590.29 crores compared to ₹16,068.48 crores in the corresponding period of the previous year. Net profit attributable to shareholders stood at ₹469.30 crores against ₹566.06 crores in the previous year. The company reported EBITDA of ₹1,285.67 crores for the nine-month period compared to ₹1,361.76 crores in the previous year.
Standalone Financial Performance
The standalone results reflected similar trends with revenue decline but sustained profitability despite regulatory challenges.
Key Standalone Metrics
| Parameter | Q3 FY26 | Q3 FY25 | Nine Months FY26 | Nine Months FY25 |
|---|---|---|---|---|
| Revenue from Operations | ₹4,042.89 crores | ₹4,671.10 crores | ₹12,147.78 crores | ₹13,829.60 crores |
| Net Profit After Tax | ₹82.01 crores | ₹185.27 crores | ₹373.88 crores | ₹545.68 crores |
| Basic EPS | ₹1.30 | ₹2.95 | ₹5.95 | ₹8.69 |
| EBITDA | ₹327.31 crores | ₹409.39 crores | ₹999.58 crores | ₹1,249.34 crores |
Exceptional Items and Regulatory Impact
The company reported exceptional items of ₹33.15 crores on standalone basis and ₹33.67 crores on consolidated basis for the quarter and nine months ended December 31, 2025. These exceptional items resulted from the introduction of New Labour Codes effective November 21, 2025, leading to increased provision for employee benefit expenses. The company continues to monitor developments pertaining to Labour Codes and will evaluate any further impact on employee benefit liability measurement.
Business Segments and Order Book
NCC operates across three primary segments with construction forming the core business vertical.
Segment-wise Revenue (Consolidated)
| Segment | Q3 FY26 Revenue | Nine Months FY26 Revenue |
|---|---|---|
| Construction | ₹4,826.58 crores | ₹14,375.52 crores |
| Real Estate | ₹41.71 crores | ₹214.77 crores |
| Others | - | - |
The company secured new orders worth ₹12,430 crores during the third quarter, bringing the total order book to ₹79,571 crores on a consolidated basis as of December 31, 2025. This robust order book provides revenue visibility and reflects the company's strong market position in the infrastructure sector.
Corporate Developments
The Board of Directors approved the effective date of amalgamation of NCC Infrastructure Holdings Limited with NCC Limited as February 28, 2026, following receipt of the certified copy of the National Company Law Tribunal order. Upon the scheme becoming effective, NCCIH will stand dissolved without being wound up. The company's paid-up equity share capital remained unchanged at ₹125.57 crores with face value of ₹2 per share.
Historical Stock Returns for NCC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.97% | +2.65% | -5.82% | -28.08% | -34.82% | +101.84% |
