(Reuters) -India’s NCC, which constructs buildings, roads and bridges, reported a decline in first-quarter profit on Tuesday, hurt by softer demand and slower execution of orders.
Consolidated net profit after tax, attributable to shareholders of the firm, fell 8.5% to 1.92 billion rupees (about $22 million) in the quarter that ended on June 30.
Its revenue from operations declined 6.3% to 51.79 billion rupees.
For further earnings highlights, click (Full Story).
KEY CONTEXT
India’s infrastructure spending was off to a slow start in the quarter, with an earlier-than-expected monsoon weighing on demand.
Analysts at Elara Capital said in a pre-earnings note that the order book for construction firms is likely to pick up in the second half of fiscal year 2026, led by more projects from central and state governments.
PEER COMPARISON
Valuation (next 12 Estimates (next 12 Analysts’ sentiment
months) months)
RIC PE EV/EBITDA Revenue Profit Mean No. of Stock to Div
growth (%) growth (%) rating* analyst price yield
s target** (%)
NCC 13.38 6.69 11.70 17.04 Buy 12 0.77 1.03
KNR Constructions 16.34 11.52 0.78 -43.21 Hold 16 0.86 0.12
PNC Infratech 15.22 16.73 17.17 -9.87 Buy 14 0.85 0.19
Ashoka Buildcon 15.53 9.48 11.21 45.63 Buy 8 0.80 NULL
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
APRIL-JUNE STOCK PERFORMANCE
— All data from LSEG
— $1 = 87.7350 Indian rupees
(Reporting by Manvi Pant; Editing by Harikrishnan Nair)
