NCC Limited , a leading infrastructure company, has reported significant growth in its order book for the second quarter of fiscal year 2026, demonstrating resilience in a challenging market environment.

Order Book Expansion

NCC has achieved an order book of ₹71,957 crore as of September 30, 2025, representing a robust 37% year-on-year increase. This substantial growth provides strong revenue visibility for the coming quarters and underscores the company's ability to secure new projects across various infrastructure segments.

Q2 FY26 Financial Performance

For the quarter ended September 30, 2025, NCC reported the following consolidated results:

While the company experienced a slight decline in revenue and profitability compared to the same quarter last year, it maintains a focus on operational efficiency and margin improvement.

H1 FY26 Performance

For the first half of FY26, NCC's consolidated results were as follows:

Despite a slight decrease in revenue, NCC managed to improve its net profit for the half-year period, indicating effective cost management and operational improvements.

Diversified Project Portfolio

NCC operates across multiple infrastructure segments, including:

• Roads
• Water projects
• Railways
• Buildings
• Power transmission and distribution
• Mining
• Irrigation

This diversification helps the company mitigate risks associated with sector-specific fluctuations and capitalize on opportunities across various infrastructure domains.

Strategic Focus

The company is concentrating on:

1. Diversified execution across infrastructure segments
2. Maintaining margins above 7%
3. Leveraging its 47+ years of engineering experience
4. Utilizing its pan-India presence for project execution

Future Outlook

NCC plans to expand into emerging infrastructure areas such as:

• Smart infrastructure projects
• Green energy initiatives
• Urban connectivity solutions

These focus areas align with the government's infrastructure development priorities and may provide additional growth opportunities for the company.

Conclusion

Despite facing some headwinds in revenue growth, NCC Limited has demonstrated resilience through its expanding order book and improved profitability in H1 FY26. The company's diverse project portfolio and strategic focus on maintaining healthy margins position it well for future growth in India's infrastructure sector.

NCC Limited , a prominent player in the Indian construction sector, has reported mixed results for the second quarter ended September 30, 2025. The company's performance shows both growth and challenges across different metrics.

Financial Highlights (Standalone)

On a standalone basis, NCC reported quarterly revenue of ₹3,774.00 crore, marking a significant year-over-year growth of 34%. However, EBITDA declined by 16% to ₹278.00 crore, representing 7.37% of turnover.

Consolidated Performance

On a consolidated basis, the results showed a different picture:

The consolidated revenue reached ₹4,585.00 crore, reflecting a 12% year-on-year decline. EBITDA stood at ₹155.00 crore, which is 3.38% of revenue.

Order Book and Future Outlook

Despite the mixed financial results, NCC's order book shows strong growth:

• Order Book: ₹71,957.00 crore (37% year-on-year growth)
• Order Inflow: ₹6,223.00 crore (31% year-on-year growth)

The company attributed execution slowdowns to prolonged monsoon affecting site access and productivity across key geographies. NCC operates across multiple verticals including buildings, transportation, water, electrical, mining, and railways.

Future Expectations

NCC expects the second half of the fiscal year to see normal ramp-up with several large sites expected to gain traction, consistent with historical patterns of stronger second half performance.

Investor Perspective

For investors, these results present a nuanced picture. The standalone revenue growth and strong order book offer positive signals, while the decline in EBITDA and consolidated revenue may raise concerns. The company's diverse portfolio across various construction sectors and its optimistic outlook for H2 could be key factors in its future performance.

As NCC Limited continues to navigate the dynamic construction sector, stakeholders will be watching closely to see how the company leverages its strong order book and manages operational challenges in the coming quarters.