After obtaining an infrastructure development contract from the Andhra Pradesh Capital Region Development Authority (APCRDA) worth Rs 2,129.60 crore (without GST), NCC shares surged 6% to Rs 208.6 in Thursday’s BSE trading. On March 19, 2025, APCRDA issued a Letter of Acceptance to the business for infrastructure projects in Zone-12 villages in Andhra Pradesh’s Amaravati Capital City. According to an exchange filing by NCC, the contract includes the building of roads, drains, water supply, sewage, utility ducts for electricity and ICT, repurpose waterlines, and avenue plantations.
The project has been designated as a “Major Order” in accordance with the company’s Policy on Determination of Materiality of Events and Information, which classifies contracts and orders worth at least Rs 1,000 crore (excluding GST) as big orders. Five years will pass throughout the contract’s execution: two years for the defect liability period (DLP) and three years for construction. A lump sum percentage tender was used to award it.
A state government awarded NCC a Rs 218.82 crore transit project in February, with a 36-month completion timeline.
NCC’s third-quarter earnings
For Q3FY25, NCC reported a 12.5% year-over-year (YoY) drop in net profit to Rs 193.2 crore. Operating revenue increased 1.6% from Rs 5,260 crore in Q3FY24 to Rs 5,344.5 crore. EBITDA, however, decreased 16.6% from Rs 504.4 crore to Rs 420.9 crore in the previous year.
Target price for NCC shares
The stock’s average target price, according to Trendlyne data, is Rs 302, representing a 47% increase over the current market values. ‘Buy’ is the consensus recommendation of 12 analysts on the stock.
Performance of NCC’s share price
Over the last three years, the stock has increased by 225%, but it has dropped 36% in the last six months. The market value of the company is Rs 12,729 crore.