NCC LimitedQ1 FY27 Results & Financial Update
NCC Limited: Q1 FY27 consolidated results and company financials – revenue ₹5,811.83 Cr, PAT ₹228.90 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore NCC Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
NCC Limited reported consolidated total income of INR 5,842.48 crore for the quarter ended 30 June 2026, comprising revenue from operations of INR 5,811.83 crore and other income of INR 30.65 crore. Total turnover on a consolidated basis including other income grew by 12 percent year-on-year compared to INR 5,207.93 crore in the corresponding quarter of the previous financial year.
Consolidated profit before tax (PBT) for Q1 FY27 stood at INR 311.64 crore, reflecting solid operational execution across core engineering and construction activities. Total tax expense for the period aggregated to INR 82.74 crore, consisting of current tax of INR 78.65 crore and deferred tax of INR 4.09 crore.
Total consolidated net profit after tax (PAT) for the quarter reached INR 228.90 crore. Net profit attributable to shareholders of the company was INR 216.40 crore, while non-controlling interests accounted for INR 12.50 crore. Basic and diluted earnings per share (EPS) for the quarter were recorded at INR 3.45 each.
The core construction segment remained the primary growth engine, generating gross segment revenue of INR 5,759.29 crore and a segment result of INR 343.54 crore. The real estate segment contributed gross revenue of INR 52.54 crore with a segment result of INR 4.77 crore.
On the standalone front, the company achieved a turnover of INR 4,952.45 crore (including other income of INR 40.95 crore), marking a 12 percent increase over INR 4,429.76 crore in Q1 FY25. Standalone net profit after tax stood at INR 187.31 crore with basic and diluted EPS of INR 2.98.
Order intake during the quarter remained robust, with the company securing new orders aggregating INR 3,889 crore, inclusive of changes in scope. This intake lifted the consolidated order book to INR 81,214 crore as of 30 June 2026, ensuring firm revenue visibility for subsequent quarters.
Profit after tax was ₹228.90 Cr for the reported quarter. EPS was ₹3.45 for the reported quarter.
01 · Business model
What does NCC do?
NCC Limited is a prominent Indian infrastructure development and construction enterprise engaged in executing diverse projects across multiple domains including engineering, construction of industrial, commercial, and residential buildings, roads, bridges, flyovers, water supply, environment projects, railways, metro corridors, mining, power transmission, distribution lines, irrigation, and smart meter projects.
The company operates primarily on a consolidated basis, incorporating domestic branches, joint operations, subsidiaries, and associates that undertake specialized engineering, procurement, construction, and real estate development activities.
Revenue generation is anchored by large-scale project execution across public and private sectors, underpinned by a sizeable order backlog that provides multi-year operational visibility across various construction sub-segments.
02 · Historical context
What shaped the business before this quarter
Pursuant to a Scheme of Amalgamation approved by the National Company Law Tribunal (NCLT) in Hyderabad on January 30, 2026, wholly owned subsidiary NCC Infrastructure Holdings Limited was merged with the company with effect from April 1, 2024, resulting in restated financial information for comparative periods.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹5,811.83 Cr |
| Total income | ₹5,842.48 Cr |
| Profit before tax | ₹311.64 Cr |
| Profit after tax | ₹228.90 Cr |
| EPS | ₹3.45 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 3.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 5.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹30.65 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue from operations of INR 5,811.83 crore was heavily driven by the construction segment, which contributed INR 5,759.29 crore in gross segment revenue. Real estate operations added INR 52.54 crore.
Other income contributed INR 30.65 crore to the consolidated top line during the quarter ended 30 June 2026.
What drove margins
Total consolidated expenses for Q1 FY27 stood at INR 5,534.04 crore. Sub-contractor work bills formed the largest expense item at INR 2,605.70 crore, followed by cost of materials consumed at INR 1,857.93 crore and construction expenses at INR 531.30 crore. Changes in inventories of work-in-progress showed a negative impact of INR 57.88 crore.
Employee benefits expense was reported at INR 214.24 crore, finance costs at INR 198.02 crore, depreciation and amortisation at INR 69.31 crore, and other expenses at INR 95.42 crore.
05 · Demand, customers & order book
Where demand is coming from
NCC secured new orders aggregating INR 3,889 crore (including changes in scope) during the first quarter of FY27. Consequently, the consolidated order book stood at INR 81,214 crore as of 30 June 2026.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Generated gross revenue of INR 5,759.29 crore and a segment result of INR 343.54 crore, representing the vast majority of consolidated earnings.
Reported gross segment revenue of INR 52.54 crore and a segment result of INR 4.77 crore.
Comprises Build-Operate-Transfer (BOT) projects, registering a minor segment result loss of INR 1.13 crore on negligible external revenue.
Geography and market mix
The consolidated results include operations from international branches and subsidiaries. Specifically, one foreign branch reviewed by branch auditors reported total revenue of INR 3.90 crore and net profit after tax of INR 0.12 crore for the quarter.
07 · Reported developments
What changed operationally
Consolidated turnover (including other income) expanded by 12 percent year-on-year to reach INR 5,842.48 crore compared to INR 5,207.93 crore in Q1 FY25.
Order inflows of INR 3,889 crore during the quarter supported a robust cumulative order book of INR 81,214 crore as of 30 June 2026.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Review
The statutory auditors, S.R. Batliboi & Associates LLP, issued an unmodified limited review report on both the standalone and consolidated financial results for the quarter ended 30 June 2026.
09 · Previous-quarter changes
What changed since the previous quarter
Consolidated total income decreased from INR 6,250.98 crore in Q4 FY26 to INR 5,842.48 crore in Q1 FY27, reflecting normal sequential seasonality in construction execution.
10 · Key Q&A
The quarter, answered directly
What does NCC do?
NCC Limited is a prominent Indian infrastructure development and construction enterprise engaged in executing diverse projects across multiple domains including engineering, construction of industrial, commercial, and residential buildings, roads, bridges, flyovers, water supply, environment projects, railways, metro corridors, mining, power transmission, distribution lines, irrigation, and smart meter projects.
What is the clearest takeaway from Q1 FY27?
NCC Limited reported consolidated total income of INR 5,842.48 crore for the quarter ended 30 June 2026, comprising revenue from operations of INR 5,811.83 crore and other income of INR 30.65 crore. Total turnover on a consolidated basis including other income grew by 12 percent year-on-year compared to INR 5,207.93 crore in the corresponding quarter of the previous financial year.
What drove revenue or demand?
Consolidated revenue from operations of INR 5,811.83 crore was heavily driven by the construction segment, which contributed INR 5,759.29 crore in gross segment revenue. Real estate operations added INR 52.54 crore.
What mattered most for margins or profitability?
Total consolidated expenses for Q1 FY27 stood at INR 5,534.04 crore. Sub-contractor work bills formed the largest expense item at INR 2,605.70 crore, followed by cost of materials consumed at INR 1,857.93 crore and construction expenses at INR 531.30 crore. Changes in inventories of work-in-progress showed a negative impact of INR 57.88 crore.
What changed operationally beyond the headline numbers?
The statutory auditors, S.R. Batliboi & Associates LLP, issued an unmodified limited review report on both the standalone and consolidated financial results for the quarter ended 30 June 2026.
What should the next disclosure help confirm?
Monitor the conversion of the INR 81,214 crore order book into recognized revenue across infrastructure and building segments in subsequent quarters.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Order Execution Pace: Monitor the conversion of the INR 81,214 crore order book into recognized revenue across infrastructure and building segments in subsequent quarters.
- 02
Sub-Contractor and Material Cost Trends: Track the trajectory of sub-contractor work bills and material consumption costs relative to incoming project realizations.
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