NBCC poised to capitalise on new market opportunities: CMD

State-owned construction firm NBCC (India) is poised to capitalise on new market opportunities by strengthening its core competencies, a top company official said Saturday.

As India inches towards being the third largest economy in the world by 2030, NBCC is well placed for a quantum jump in line with India's emergence as a global economic powerhouse, its Chairman-cum-MD Anoop Kumar Mittal said while addressing the company's 58th annual general meeting here.

"NBCC (India) Ltd the state-owned Navratna enterprise company is poised well to capitalise on new market opportunities by strengthening its core competencies," Mittal said.

The company has performed with a CAGR of 21 per cent over the past 10 years which has helped it emerge as a valuable stakeholder in the infrastructure and construction sector, he added.

"NBCC has a strong order book pipeline that will help in achieving a growth rate of more than 30 per cent. Going forward, NBCC is also working towards enhancing its brand value while aggressively pursuing high-value projects in domestic and overseas markets," Mittal said.

At present, the company's order book stands at around Rs 80,000 crore. 

Watch Zee Business video here:

NBCC has achieved 14 per cent higher consolidated net profit during financial year 2017-18 driven by sturdy operational performance and sound fundamentals. The total income for 2017-18 stood at Rs 7,095.91 crore as compared to Rs 7,575.35 crore in the previous fiscal.