NBCC (India) Limited (NBCC) Q2 2027 Earnings Call Transcript

Good morning, ladies and gentlemen. I am Kathika Im, moderator for the conference call. Welcome to NBCC India Limited Q2 FY27 earnings conference call. We have with us today, Sri K.P. Mahadevaswamy, Chairman, Cummanaging Director, Dr. Suman Kumar, Director Commercial, Sri Anjeev Kumar Jain, Director Finance, Sri Ashutosh Gautam, Director Projects, And Mr. Sri M.B. Singal, Executive Director, Finance. As a reminder, all participants will be in listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. If you need assistance during the conference call, please signal an operator by pressing star and then zero on your touchstone telephone. Please note, this conference is being recorded. I would now like to hand over the floor to Shri K.P. Mahadeva Swami, sir. Thank you, and over to you, sir.

Thank you, Mr. Karthikhan. Good morning, everyone. A arty welcome to all of you. First of all, happy Dhanteras and Ishiwya, happy Deepavali in advance. Before starting of call, we welcome our new director project, Shri Asutos Gautam. He has been serving for more than 34 years in multidisciplinary wings of infrastructure, which will help NVCC in multiple friends. For quarter 2 operation and execution, we have achieved a revenue from operation of Rs. 2890 CR standalone and Rs. 3396 CR on consolidated, reflecting a 38% year-on-year increase on standalone basis. On standalone basis, EBITDA increased significantly by 154% from Rs.219 CR from Rs.86 CR, and our standalone PAT increased by 31% stands at Rs.225 CR, marking a significant growth. For H1, Operation and Execution, we have achieved a revenue of Operation 4713 CR standalone and Rs.5655 CR on consolidated, reflecting 26% year-on-year increase on standalone basis. On standalone basis, EBITDA increased significantly by 105% Rs.379CR from And our standalone pants stands at Rs. 376 CR, marking a significant 31% year-on-year growth. In terms of order book position, NBCC standalone order book is standing at 1,12,000 CR and consolidated order book Rs. 1,26,000 CR. New business secured in quarter 2 stands 3,600 CR on a consolidated basis and following are the major projects secured in last quarter. RBA residential complex at Amaravati, AP, New Andhra Pradesh, valuing 800 CR. Housing project at Seychelles, around 600 CR. Business awarded to contractors. In quarter two, we have awarded 1,500 CR of new tenders on consolidated level. which makes a total of 3,200 CR first off in 2026-27. In next two quarters, we are expecting 15,000 to 16,000 crores of new work will be awarded. Tenders of all the packages of Supertech have been uploaded worth of Rs 9,600 CR, and will awarded this quarter 3 itself and turnover will start from quarter 4. And many more projects including recently secured Government of Bihar, West Bengal, J&K will be awarded in the upcoming quarters. Redevelopment projects. In continuation to sale of resource mobilization under 7th GPRA project, NBCC successfully sold residential apartment of 8.8 lakh square feet area. At Avenue Tavar, opposite to Lila Hotel, Sarojinagar, New Delhi threw an opening action at a total sale value of 5,191 PR. All major packages in the redevelopment projects are on running stage. Now, currently, it has 9200 CR of balanced workload. Amrapali projects. Phase 2 of Amrapali project has started in different packages, and currently, it has 8000 cores of balanced workload. We are happy to share that NBCC has completed stalled 24 Amrapali projects of phase 1, and now, ending over is in progress. Amrapali phase 2 works are progressing on fast track, and at one of the package, the building site has reached up to 26 floors. And in the last, to update about HACC merger, it is on fast track, so that we would have better synergy. Thank you. Now the forum is open for the question and answer.

Thank you, sir. Ladies and gentlemen, we will now begin the question and answer session. If you have a question, please press star and one on your telephone keypad and wait for your turn to ask the question. If you would like to withdraw your request, you may do so by pressing star and one again.

Ladies and gentlemen, we'll wait for a moment while the question queue assembles. First question comes from the line of Pankaj Kumar from Kotak Neo.

Please go ahead.

Yes, sir. Thanks for taking my question. And, sir, congrats on good set of numbers. Sir, in terms of guidance that we had given for FY27 earlier, around 13,000 to 14,000 crore of standalone revenue. And with H1, we have reached around 47 hundred crore. So, where are we in terms of achieving this guidance? And how is the way forward for FY28 in continuing?

Yes, I am assuring we will going to achieve 13,000 to 14,000 on stand-alone basis. Usually our first and second quarter will be in slow phase. Third and fourth quarter only we will going to achieve this figure towards course. We will going to achieve 13,000 to 14,000 CR on stand-alone basis. And how about 28 and 29? 29, already we have committed around 21,000 CR in consolidated level basis. And 20-25% growth will be there, stand-alone.

This is for FY28, next year, you're saying that, 21%. Yes, yes, yes. And earlier, we stated about 50 to 60,000 crores of order inflows, and that includes one large project, 5GPRS. So, what is the status of that, and how is the overall outlook in terms of order inflows for current countries?

We are going to get 50 to 60,000 total work order in the coming, during this year. Still it is volts goods only. So recently we got Bihar government some 2,500 CR work we got. Another 8,000 total work order it will come in this quarter itself. GPRA it will come either this quarter or next quarter definitely. It is in process. We are going to get that the earliest. Around 30-35,000 four-works we are going to get from 5G PRA.

And with this, around due to all environmental related issues, we see the construction restrictions. So, how is that construction side appropriating?

It will be there. We are following all the norms we are following. But still, whenever AQ is increased, they will go to stop the construction. That will affect only our Delhi projects, not other projects. Across India, definitely, we are doing well. We are going to avoid this. During this quarter, we are going to avoid SuperTech also. And next quarter onwards, Supertech, the third number will come from Supertech as well as J&K. J&K 3 tender already, we have received the technical bid. It will go into open at the earliest. The price bid will go into at the earliest and we will go into award during this month itself, J&K.

Okay, so this 15 to 16,000 crore of new award includes roughly 9,600 crore from Supertech. That's what you expected.

No, 50,000 to 60,000 crores we are going to get, around 15,000 to 16,000 crores we are going to award during this year. Already we have committed that include Supertech and J&K. And we may expect some work we are going to award through Bihar government and West Bengal also. Recently we have signed a move with Bihar and West Bengal government.

And how about next financial, what kind of award we are looking at, and what would be the total number of, what would be the total value of the project that would be running by the end of the financial and then by the next. Next year, pardon me, what is the business you will want to give?

No, running project. Yeah, yeah. Currently, around 33,000 tours is running. So, next year, another 16,000, 17,000 it will added means. So, it will be increased another 10 to 20 percent.

And, sir, lastly, on Mahaprit project, what is the status?

Mahaprit project, somehow it got delayed, but I think during this year, we are going to start Mahaprit also. So what are the last steps? Recently, my director's project visited and he talked with them. Some initial, because it is a self-sustainable project, we have to arrange funds, we have to get the clearances, approvals and all. Because of that, it is getting delayed. But during this year, we are going to start Mahaprit also. And Naveen Nagpur also will going to start the tendering in the last quarter.

So this Hoodco, this TAYAK, one TAYAK is done, or so that's still pending? Hoodco funding. Yeah, for Mahapit, you discussed about Hoodco funding. No, it is going on. It is going on. Okay, sir. Thank you. I'll come back. Thank you.

Thank you. The next question comes from the line of Mahesh Polanyi from GoQuarter. Please go ahead.

Your line is unmuted. Please go ahead with your questions. So, there seems to be no response.

The next question comes from the line of Vasudev Ganatra from Nuwama. Please go ahead.

Yeah, I thank you for the opportunity, sir, and congratulations on a great set of numbers. So, sir, our revenue growth and EBITDA margins, both, they were, you know, quite good this quarter. So, have we done something very differently or, you know, were there any one-offs? Sir, can you just throw some light on this?

My director of finance will reply. This time, Abitida has increased to 8 percent, basically. We used to say that Abitida is in the range of 5 to 6 percent, but this time we have featured, including in Q1 also, we recorded 9 percent. So, it is primarily because of the marketing fee we earn on sale of self-sustantial projects on behalf of Ministry of Hosting and Urban Affairs. So, we recorded in half year approximately 100 C of marketing C. Because of that, that increase is there. Apart from that, we used to say that our cost structure is always fixed whenever there is an increase in revenue, that is going to have an impact on Abideta. So, because of increase in revenue in this quarter as well as half year, that impact is being visible.

So, sir, what led to that increase in revenues in this quarter?

There has been an increase in approximately Q1, you say, 1823. Q2, we recorded 1890. And on console basis, you see, there is a SNS 2260, we recorded 3400. So that revenue itself contributed a good increase in EBITDA.

Okay, so this revenue increase was purely from all the executions that we did? There was no one-off or any such kind?

No, no, no, no, no, no, no, no, no, no. It is perennial income. It will come up. Because our stand is like that, we work on a fixed cost structure. Whenever there is an increase in revenue, it is going to have a positive impact on habilita. So that is being reflected in our results.

Sure, so that is great. And, sir, for H2 now and in FY28, what are our monetization plans, any bulk sale or anything that we are planning?

Last time, I think, in Q1 Concall, we said that we are planning and we have steadied our sale of some land parcel. In Q3 itself, We conducted sale of two land parcels, and I think this quarter itself, we are going to book approximately 433 CR of the revenue from sale of land parcels. Apart from that, two more land parcels, RFC is in the pipeline, and that may also come up in this quarter. So we are planning whatever land bank is there, we want to monetize that, and we want to generate money so that that money can be used for future projects.

Okay, sure, sir. And, sir, what is our target revenue and margin guidance for console basis for FI 27 and 28?

15,000 to 16,000 on top line, around 1,100 to 1,200 on that.

We are maintaining our guidance.

Whatever guidance we have provided in Cuba, we are going to definitely achieve this.

Yeah, that's great to hear, sir. And lastly, sir, when are we planning to launch the Chatorney project and the Sector 37D projects?

3070 already work awarded, contractor already mobilized, filing work already started. So the sale will be started, I think, hopefully we will going to launch in the month of January. After 15th, we will going to start a sale. Gitorney, of course, the sale agreement has to be executed. Once it is over, means the consultant tender already we have received. So, we have to appoint a consultant, and we have to do the agreement with the Delhi government. Once it is over, I think next year onwards, Gitorney also will be going to start. It will be going to take a bit of a shave.

Okay, right, sir. And lastly, sir, on our Dubai operations, what is the status there?

On Dubai operation, we have taken all the approvals. Our design and drones have been approved. We are going to get a rare registration as well because in Dubai also there is a rare registration requirement is there. And hopefully this month or maybe first week of December, we are going to do the groundbreaking ceremony.

Okay, and when can we expect the sales to start here?

Yeah, we are planning to start sale in a phase manner, and I think first phase will be by end of December or maybe by January 2027. And that will be only sale. Cash will be received, but revenue will be recognized only after completion of that position.

Okay, got it, sir. And just one more second, squeezing out of this console order, what will be a rough split between PMC and redevelopment?

Around 60 60% on 60-40. Redevelopment 60-40. And in consult level, it is 53-47%.

Okay. Got it. That's it from my side. Thank you and have to give value to your team. Thank you. Thank you.

Thank you. The next question comes from the line of Komal Chaudhary from Ratnavalli. Please go ahead.

Hello, sir. Am I audible?

Yes, sir. Please. Sir, thank you for the opportunity. You had guided for a closing order book of two lakh crores by end of financial year. Right now, we are at around 125-130. And I'm assuming there were two big orders that were expected. What is the status of those orders?

Still yet to come. It will come. It will come. Two big orders. But in between, parallelly, we got recently Bihar government also. Some 2-3 thousand crores we got it. And another 8 thousand crores we are going to get in phase 2 in this quarter itself. And West Bengal also we got. We are trying with, discussion is going on with another 2-3 state governments. What is the size of West Bengal?

What is the size of West Bengal, Alton, sir?

West Bengal will be around 10,000 tour, maybe. We have signed almost 9 MOUs. So, we have to access the value. So, roughly around 10,000 tour will be there from West Bengal.

That's very great, sir.

Sir, why is our execution, I mean, our quarter 1 and quarter 2, the awarded contracts are almost the same size? So, what is the bottleneck? Why are we not being able to award more contracts? Because right now, we are sitting at almost six years of order book. If we continue this space, So, where is the bottleneck? Why are we not? I saw, I have been tracking your tendering site. You have ordered super tech of 10,000 crores, etc. But beyond that, why are things not happening?

Mahaprit could not take us and Jammu Kashmir also got delayed. Now, Jammu Kashmir tender also there in the website. Already tender which is received. Around 2,000 crore work order will go into issue this month itself. And as far as SuperTech also, I think this month end or next month definitely we will go into award around 10,000 pro. So total around 15,000 to 16,000 CR we will go into award during this year. This is minimum, I am telling. If West Bengal and Bihar will be added means it will be more than that. I think Mahaprit also going to get converted into business to execution. So, Naveen Nagpur also is going to start. So, redevelopment projects and with state government. Actually, state government where it is on self-sustainable mode and it has to be get lot of approvals. So, due to approvals and financial arrangement, it is getting delayed, that's all. Otherwise, it will be definitely converted.

Sure. And, sir, one final question. Because we have done so much of good work in the Delhi monetization, is the government expected to give us some more orders? Because we have really given this recent land, this recent sale in Delhi, etc. So, are they warming up to more orders? Because every day we hear news about a few buildings falling in Delhi, etc. So, government has to do a lot of redevelopment over there.

Yes, definitely. We are talking with the state government also. So, that's why I'm not naming the state government. We are going to get two, three state government with big orders. Of course, Delhi requires a lot of redevelopment. All old buildings and in depleted conditions, there is no proper road facility, infrastructure, even energy efficient also is not there. By doing redevelopment, It is almost net zero building we are doing. So even solid waste, STP, energy efficient building we are doing in World Trade Center, even Sarojinagar, Netaji Nagar. So this is a big opportunity we have. And lot of state government empty lands are there. Disconnection is going on. I think we are going to crack one or two orders in this year itself.

And the two big orders, sir, should be expected in the calendar year?

Yes, yes, definitely, definitely. That GPRA, 5GPRA, already it is in the process of approval of cabinet, and we are expecting one border fencing also.

Sure. Thank you so much, sir. Thank you. Thank you. Thank you. The next question comes from the line of Sarojit Singh. Please go ahead. So he has withdrawn his request. We have the next question coming from the line of Sumit Rora from Smarts and Capital Private Limited.

Please go ahead. Yeah. Hi, sir. Very good morning. Firstly, I wish you and your entire team a very, very happy Diwali. And congratulations on a fantastic set of results. Now, sir, I have a few detailed questions. So, sir, firstly, you know, you signed nine MOUs just a few days ago with WebPengal. So, sir, could you kindly highlight, you know, what is the opportunity size you see there and how soon do you think that, you know, that can translate into real business flow? So, that is my first question, sir. My second question, sir, so if I understand correctly, is that you said that your revenue guidance, 14,000 crore is on a standalone. So, on a consolidated basis, we should be about 17,000, 16,000 to 17,000 crore, sir, is my understanding correct, with Pat being about 1,100 to 1,200 crore, as you highlighted. Sir, thirdly, my question is, you mentioned just now that, you know, you're expecting order in close of nearly 50,000 to 60,000 crore in terms of GPRA and the other orders. So that means, sir, you are still expecting that by March 31st, we should close with a total order book after awarding. Could be to the tune of about 1,85,000 to 2,000 crore, sir. I mean, is that understanding correct, sir?

Yes, yes, definitely, definitely. So, 1 lakh 80,000, maybe 20,000 we will go into award, 1 lakh 80,000 crore rupees, the balance for cloud will be in the next year, next financial year. Okay, and also, I mean, I will tell you, we have signed nine MOUs with various departments. So, one is slum department, other one is urban development, Kolkata municipal corporations. So, we did so many iconic projects in Kolkata. One is Dandanya, the other one is Soujanya. So, they know the quality and potentiality of NBCC. So, they wanted to, because due to change in government. So, they wanted to engage NBCC. Earlier, there was a bar to PSUs. Only state government can execute more than 50 crores work order. So, now that barrier has been already broken. So, we got successfully executed nine MOU. I think in West Bengal career, first time nine MOU in a single day, they executed it with the PSU. So, Minister also very much interested, and she is so fast to start the work immediately. So, one of that kind of work is Pink Tiret. They wanted to build Pink Tiret across West Bengal. That we are going to start in the first quarter, next quarter, that is, fourth quarter we are going to start. Apart from that, riverfront and some IAS IPS officers, You have to consider, I would call, apart from that, that library. China Bazar. So, so many. Kolkata is a old city and a rich city. They wanted to do a lot many development works in there. And we have USP and redevelopment model. Traditionally, we got this work order through PMC. And of course, they wanted to build a new cabinet also. So, that also I think it will come to our kitty. So, so many other works are there in pipeline. So, I don't want to mention details in detail, but we are going to get a good work quarter from West Bengal.

Sure. And, sir, I mean, if I heard correctly also, I mean, our Director of Finance also said that we have conducted two land parcel sales in this quarter. So, effectively, that means in Q3, we will get about 400 crore of revenue from the land parcel with some addition in bottom line of about 200 crore. I mean, is that also, is that correctly?

Q4 we are going to get, because it has to be realized, once already we sell it, we are going to get the cash in Q3, but Q4, the turnover as well as property will be booked in the Q4.

Understood. Understood. And, sir, also, you know, I can tell you confidently that, sir, you know, all of you have built a wonderful company because today, sir, in the public sector space, you are one of the only companies who has a book-to-bill ratio of 1 is to 10. You know, so you have a very high amount of visibility. So, sir, my only request to you is that, you know, I have also seen that on October 18th, you also appointed a director in the infrastructure, the developing project, you know. So, because, you know, with the kind of visibility you have of nearly 1.5 lakh crore, you know, going to 2 lakh crore now, you know, you can easily be a 40-50% growth company, you know, I mean, on a year-on-year basis, right? Because you have that kind of order book. So, you know, if we can focus a little bit more on, you know, also on execution, you know, it will actually do a world good to us, sir. You know, so, I mean, if you can just share your thoughts on that as well, it would be very helpful.

Definitely. Sumit, one thing I wanted to tell you, what NBCC did during the last one or two years, three years. Amrapali projects, this was stalled, and Supreme Court, by the grace of God and intervention of Supreme Court, Honorable Supreme Court, we have completed all the 26 projects. It is on self-sustainable mode. Whenever a PSU fails, usually what will happen is private takeover. In this case, it is a reverse story. A private builder left the project and a PSU is completing. Similarly, 7GP, almost a lot of waiting lists for officers. The officers used to travel one or two hours from Nevada or Faridabad, Gurgaon. Now they are getting their homes. Almost 5,000 homes already we have entered our flats. Now another 9,000 workers in progress. By this year end, we are going to get some VWD on this, but definitely next year onwards, 7GPR will be going to compete all. By the end of next year, December or March, we are going to compete both Amrapali Phase 2 as well as 7GPR. This will be a big order and big project, and we are expecting 5GPR also. So, and state government also is following. Gova already, we have overdid, execution started. J&K will going to start one project, small project already started. So, other three tenders are in pipeline. So, lot of opportunities are done, lot of work already. We have to convert. Of course, conversion, it took some time, but definitely now the turnover will come. And as well as we are going to get the PAT also. PAT, EBITDA, everything. And one more thing I wanted to add in this, we have changed the technology also. By doing this, now in 7GPRA and in Amrapali, we are doing almost 33 million floors. We are doing just two years. This is a big achievement. We are using my1 shuttering, and speed is very fast, and quality is also good. So, the technology we have changed, we have used precast technology also. So, we have changed the technology for better quality and timely execution. And of course, energy savings and all ESG we are following.

Sure, sure.

So, I mean, if I may ask, so on a consolidated basis, you should basically end the current year with about 17,000 crores, sir? I mean, is that broadly correct?

Whatever, 16 to 17, whatever we have committed.

Okay, sure. And basically, going ahead next year, I mean, as a matter of fact is that you're awarding nearly 20,000 crore. So, next year, we should basically be looking at upward of about 25% growth. So, can we look at about 21, 22,000 crore? Yes, yes, yes.

21, 22. Okay, wonderful, sir.

I wish you all the best, sir. Good luck. And once again, very happy, Diwali, to you and your entire team, sir.

Thank you. Thank you. Wish you the same.

Thank you. Ladies and gentlemen, if you have a question, please press star and 1 on your telephone keypad. The next question comes from the line of Prem Lunia from Astute Investment Management. Please go ahead.

Hello, sir. Thank you for the opportunity. Sir, I just wanted to inquire if we, this is an example I'm taking, if we give out an order, what is the usual timeline of it converting into our revenue? What has been the same?

In PMPC project, it all depends on the type of structure, what is the height of the structure, what is the foundation. Usually, three to four years, we can complete PMPC projects. For redevelopment projects, four to five years. And volume. What is the volume? If it is a self-generated, initially six months for process of approval and all, and we have to generate the money, for that six months is required. Execution, currently we are following 24 months to 30 months only.

Okay. So, sir, the view of asking was that we have around done maybe 5,000 crores of reading in the past. And based on our guidance, we have to do around, let's say, at least 10,000 to 11,000 crores, and the awarded order book is only 33,000 crores as of now.

So, what do we do? Awarded work will be going to compete within two years, maximum 18 to 24 months only. I am talking about fresh projects, three to four years, not awarded. Awarded will be maximum 24 months.

Sure, sir. That was my question. Sure, sir. Thank you. So, you think that the 10,000 would be achievable from the 30,000 crore?

Yes, yes, definitely, definitely.

Sure. And, sir, on the marketing fees, so I understand that in the last two quarters we have done a lot of sales. So, we have gotten a lot of marketing fees. So, can you give me the exact number for H1 and Q2? What was the marketing fees we earned?

For H1, the marketing fee is around... 100 crore. 100 crore. Approximately.

Okay. Sure, sure. And also on...

50 crore. Sorry? 28 crore. 28 crore. 88 crore in Q1. Q1.

Okay, okay. Sure, sir. And on the 400 crore land parcel sale, sir, what would be the type of markets we will book on this? This would be a historic land, so the book value will be lower.

Approximately 50%. Around 230% we are going to get profit.

Okay, sure, sure. Thank you so much.

Thank you. We have the next question from the line of Vikas. Please go ahead.

Hi, two questions regarding the land sale parcel. Is it held in the books as stock in trade or investment? My question was, will we pay 12.5% tax or will we pay the higher marginal tax rate on NBCC? That was my first question.

It's being shown as inventory in our books or accounts.

So it will be the maximum margin tax rate. And what do we expect and have to, sorry, I didn't understand clearly, in terms of land sale parcels in H2 and 27, 28, what kind of, could you give us a broad range of land sales?

In fact, we have approximately 54 acres of land in our books or accounts as a land parcel, and we are valuing an amount of Rs. 720 CR. So, we are planning to monetize this land parcel, and as per that strategy of monetization, we have started with two land parcels, that is in Jaipur, where we said we are going to get 433 CR sale value as against the book value of approximately 195 CR. And more, two land parcels are also in the process of auction, that is Meret and Ghaziabad. Apart from that, we are also planning next year also we will put some land parcels on sale. These are historical land parcels in our books or accounts appearing in inventory in our books or accounts.

My question was, what is the approximate market value of our land parcel in inventory as on date?

What is it?

Is it 1,000 crores, 2,000 crores? Just a very broad range. I'm sure you have got a valuation done.

Yeah, yeah. As per IBBI valuer report, which we carried out at year-end, it is approximately 1,600 plus crores.

1,600 plus crores? 1,600. 1,600. Oh, that's, and out of which we have only, say, how much have we sold this quarter?

We have sold, if we talk about the market value, then we have sold approximately to 60.

So we have 1,400 in the pipeline, approximately, give or take 10, 20%. My second question was, my second question on commission, you know, for the ministry flats to be sold. What, and also the commission on the private sector flats, if you have any, what kind of trajectory are you looking at this month, this half, second half in the next year, in terms of commission sales, commission income?

1% we are getting actually on the sale value. Recently, we have concluded one action at Africa Avenue, wherein the highest sale price was 89,000 rupees per square foot. The reserve price was only 37,160. Whatever selling price is there, selling price on 1% we will going to get. Around 51 crore rupees we will going to get as a marketing fee in 7GPRA. And of course, Amrapali also we are selling. There also we are getting 1% marketing fee. In Bihar, recently we entered a MOU, wherein we are going to get 1.25% as a marketing fee. So, God at the...

So, sir, what kind of, when I say a half two, H2, what kind of marketing fees, you know, broad range, I don't want to put you down to it, and next year, what kind of market, what a broad range, if you can give me for H2, without, you know, the specifics, I'm really appreciative of giving me, H2 and the next financial year, what kind of marketing fees are we talking about?

H2, we're going to get another 100 CR. And next year, around 20-25% increase and 250 crore, we are going to get through marketing.

So, no. Oh, so 200 to 250. Okay. That answers my question. This is fantastic. Thank you so much.

Thank you.

Thank you, sir. We have a next question from the line of Subot from Purnata. Please go ahead.

Can you hear me, sir? Please, please. Yeah, yeah. I just had one question on order book. So, actually, as on March FI26, our consolidated order book was 1,27,000 crore. Then after H1 inflows were 5,000 crore and the revenue for H1 is also 5,000 crore. So, why the order book is 1,26,000 crore, which is 1,000 crore? Do we have any cancellation in order?

No, no, no. There is no cancellation. So, during October also, we have, September, some work executed, no? Only the 1004, you are, difference in, difference you are saying. Yes, yes, yes. No, there is no cancellation. There is no cancellation. Conversion part, it is taking some time, that's all. So far, there is no cancellation.

Okay, okay. And what running projects do you see at the end of FY27, sir?

Twenty-seven. Twenty-two thousand already it is running. So, we are going to get another ten thousand core rupees work quarter VWD executed and fifteen to sixteen thousand core we will award. So, this will be around forty thousand core. End of the year we will be at consolidated level forty thousand core running projects.

Okay. Okay. This answers my question, sir. Happy giveaway to you and your team, sir.

Thank you. Thank you. Wish you the same.

Thank you. Ladies and gentlemen, if you have a question, please press star and one on a telephone keypad. Next question comes from the line of Ravik Kumar Naredi from Naredi Investments. Please go ahead.

I do everything. I do everything. I do everything. Sorry, I think he's speaking somewhere else.

We have a follow-up question from Vasudev Kanatra from Nuwama.

Yeah, thank you for the follow-up opportunity, sir.

Just with this Africa Avenue that we sold, that will come in revenues in Q3, right? It is not booked in Q2.

Yes, yes, exactly, exactly. Q3 will come.

Okay, and when are you planning for bulk sale of this Kendia mark and Vinayak Mandir mark?

Next quarter, next quarter most probably. Last quarter both will come.

And what would be the typical sale value that we are estimating from this?

Around 8000 to 10,000 CR sale value, we are going to get 1% of the marketing fee.

Okay, so both of them combined sale values around 8,000 to 10,000 CR. Okay, and lastly, sir, what is our progress status on the Netaji Nagar?

Netaji Nagar is running well. All the projects are already awarded. So, the work is in full swing. Of course, due to graph, some earthwork and some restrictions on some items. But let us see. It is going well. Around 9,100 CR is running, both Netaji Nagar and Saroji Nagar combined together.

Okay. Sure, sir. That's it from myself. Thank you.

Thank you.

Ladies and gentlemen, if you have a question, please press star and one on a telephone keypad.

Next question comes from the line of Ravik Kumar Naredi from Naredi Investment. Please go ahead.

Thank you very much to give me the opportunity. Sir, what will be our top line and bottom line in financial year 28, not 27?

The top line and bottom line, around 20 to 20, so 1,000 top line and 1,500 will be the bottom line.

Sir, okay, it is a very nice. Sir, our four to four and a half leg square feet in Githorny, any developments so far?

The final MLV has to execute that shareholder agreement, it is in the process. So, by this quarter end, I think we are going to sign the MOU. Already, consultant tender has been called. So, evaluation is in the process. Once the shareholder agreement is over, then we are going to start the planning and execution of the project. Next year onwards, I think we will start the construction.

So, we hope by 31 December, we will sign MOU?

Yes, before that, before that.

Okay. Sir, Rajasthan Mandapam, 4000 crore order, what is the position? I think that is increased to 5500 crore later on.

Yes, yes. Actually, due to election, code of conduct, it could not be start. I think November 12th is the election is over. Local election is going on. November, December, Rajasthan Mandapam tender will also come.

And the Mumbai Power Trust, 10,000 crore order, anything, any progress?

Already we have started some small work around, under CR work we already awarded. Rest of the thing, it is in the pipeline. Now, they wanted to go in redevelopment model. Earlier it was in PMC model. Okay. And after seeing the successful story of Delhi, that 7G pair and all, so now even poor trust everywhere, even government department, income tax, GST department, everybody wanted to do in this model. So that government should not invest any money, rather they will get surplus money and maintenance, everything will be covered in this. So that model they wanted to follow.

So, we will do this project also?

Yes, a redevelopment model, self-sustainable model, Portruss also.

So, NBCC will do this project?

Yes, yes, NBCC will do, NBCC will do. We will sell the built-up area. Instead of selling land for sale, they will go to get us.

Understand, understand, sir. And what about Chhattisgarh project with Hoodco, One Lake Karodh project, we are having opportunity there?

Initially, I told we will going to get two more states. I don't want to mention Chhattisgarh or wherever. So, let you know. Once it is come to us, let us, I will disclose to you. We are going to get two, three states, new work order on redevelopment model during this year, Ishtar.

And any BPCL, IOC, HPCL, and ONGC?

HPCL already, HPCL already we got it. ONGC also we have recently signed, we are going to sign an MOU for ONGC also, for their redevelopment works and all. HPCL already we have signed, and we are going to start the work at Bangalore, HPCL Bangalore.

Because there are lot of responsibility on your shoulder, so it depends how you execute them.

Definitely, definitely, lot of PSQs having lot of land parcel, rather I can say, unutilized land parcel, and it will go into encroach or something like that. So we are planning to redevelop this valuable lands for better monitoring.

In other words, in next five years, we can do project of five lakh crores.

Let us see. Let us see.

Okay, sir. Okay. Okay.

Thank you. We have the next question coming from the line of Krish Berivar from Millennium Capital. Please go ahead.

And welcome to the call. Hello? Your voice is not audible. Very well, your line is unmuted. Please go ahead with your question.

So there seems to be no response. Next, we have a follow-up question from Vikas. Please go ahead.

No, all my questions have been answered. Thank you very much. Most welcome. Most welcome.

Thank you, sir. I don't know for the questions. I now hand over to the conference, the chairman, for closing comments.

NBCC has secured few major works from state government like West Bengal, Bihar, last week itself. West Bengal, various urban development work in East Bengal, and in Bihar, four redevelopment projects. In real estate, NBCC successfully undertook the sale of two land per sale at Djaipur through open e-action process, amounting of Rs. 250 crore and Rs. 180 crore, respectively. The transaction have resulted in aggregate profit of around 239 CR. That will come in next two quarters. NBCC has also achieved significant milestone in its international expansion with the formal integration of its branch office at NBCC Australia in Melbourne, Australia on October 28, 2023. For resource mobilization, seven GPRA projects successfully sold Africa Avenue to a residential tower. Few more packages are in the pipeline for sale auction. So... Wishing you a happy and prosperous Deepavali, and have a safe Deepavali to all of you. Thank you.

Thank you so much, sir. Dear investors, if you have any further questions or require additional information, please reach out to Mr. Balkishan Singla, Investor Relations, NBCC. Ladies and gentlemen, this concludes your conference for today. Thank you for your participation and for using Goosaba's Confluence Call Solveits. May disconnect your lines now. Thank you and have a pleasant day.