NBCC India plans to monetise 54-acre land bank, targets ₹50,000-60,000 crore orders in FY27
NBCC (India) expects to secure work orders worth ₹50,000-60,000 crore in FY27, driven by five GPRA redevelopment projects and a 54-acre land monetisation programme. The company has sold two Jaipur land parcels for ₹433 crore and plans bulk sales at Scindia Marg and Vinayak Mandir Marg that could fet
NBCC (India) expects to secure work orders worth ₹50,000-60,000 crore during FY27, with the proposed redevelopment of five General Pool Residential Accommodation (GPRA) projects potentially contributing about ₹30,000-35,000 crore, chairman and managing director K. P. Mahadevaswamy said during the company's Q2 FY27 earnings call. The five GPRA projects are currently under process and could be awarded either during Q3 or Q4 FY27, according to the management.
The company's consolidated order book stood at approximately ₹1.26 lakh crore at the end of H1 FY27. Management expects the order book to increase to around ₹1.80-2 lakh crore by the end of the financial year as the proposed large orders get converted. Supertech projects worth ₹9,600 crore are targeted for award during Q3 FY27, with revenue contribution expected to begin from Q4. Overall, the company is targeting the award of about ₹15,000-16,000 crore of works during FY27, including Supertech and projects in Jammu & Kashmir.
NBCC is stepping up monetisation of its land assets. It has approximately 54 acres of land recorded in its books at around ₹720 crore, while an IBBI-registered valuer has estimated the portfolio's value at more than ₹1,600 crore. As part of the monetisation programme, it has sold two land parcels in Jaipur for an aggregate value of around ₹433 crore against a book value of approximately ₹195 crore. Two additional land parcels in Meerut and Ghaziabad are in the auction process, while the company plans to put more land on sale in the next financial year. Management expects the two Jaipur transactions to generate an aggregate profit of approximately ₹239 crore, which will be recognised over the next two quarters.
NBCC is also planning bulk sales at Scindia Marg and Vinayak Mandir Marg during Q4 FY27. Management estimates the combined sale value of the two assets at approximately ₹8,000-10,000 crore. NBCC earns a 1% marketing fee on such sales. The company expects another approximately ₹100 crore of marketing fee income during H2 FY27 and has indicated that this could increase to around ₹250 crore in the next financial year.
The company plans to launch sales at its sector 37-D project around the second half of January 2027. Work has already been awarded, the contractor has mobilised at the site and piling activity has commenced. For the Ghitorni project, the final agreement with the Delhi government and shareholder agreement are under process, with execution expected by the end of December 2026. The project comprises about 4-4.5 lakh sq ft. NBCC is also preparing to launch its real estate project in Dubai, where it expects to hold the groundbreaking ceremony by the end of November or the first week of December. Sales are expected to begin in phases, with the first phase targeted for launch by the end of December 2026 or January 2027.
NBCC expects consolidated revenue of around ₹16,000-17,000 crore in FY27. For FY28, management has guided for a top line of approximately ₹20,000-21,000 crore and profit after tax of around ₹1,500 crore. The company also expects the delayed MAHAPREIT project to start during FY27, while HUDCO funding for the project remains under process. Tendering for Naveen Nagpur is targeted for the final quarter of the financial year.
