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Nagarjuna Constructions

Overall scenario is improving in Andhra Pradesh so execution of Nagarjuna Construction Company (NCC) likely to improve. Construction for Dubai Harmony project has commenced and there is strong order inflow in fiscal 2010 to enhance revenue visibility going forward. Build operate transfer (BOT) projects commissioning slightly delayed  We continue to remain positive on the company [...]

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Nagarjuna Construction (NCC) has secured orders aggregating to Rs1,221 crore. The work orders are spread across verticals of road construction, turnkey electrical works and building construction and are to be completed over a span of next 12-30months. The order book of NCC stands at Rs16,600 crore or 3.5x its FY2010E revenues. At the CMP of Rs163, [...]

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