NBCC Shares Dip Post Q3 Results; Analysts Cut Targets, Eye Real Estate Monetisation

• NBCC shares declined after Nuvama cut its target price by 4.8% to ₹139, citing concerns over 'self-revenue generating projects'.
• The company reported an 8% revenue increase to ₹3,020 crore and an 11% rise in adjusted PAT to ₹130 crore in Q3.
• NBCC secured new orders worth ₹104.95 crore, including projects for NLC India Ltd. and Rourkela Steel Plant.
• Despite a strong order book of ₹1.3 lakh crore, 60% of orders depend on real estate monetisation, leading to EPS cuts for FY26-FY28.
• Key projects like Amrapali Phase 1, Ghitorni, and Gurugram Sector 37D are slated for completion or launch in FY27.