Shares of NBCC (India) Ltd will turn ex-date for bonus issue on Monday. Today is also the record date to determine the eligibility of shareholders to receive bonus shares. To recall, the company board had recommended the issuance of bonus shares to the eligible shareholders of the company in the ratio of 1:2 i.e. one new fully paid-up equity share of Re 1 each for every two existing fully paid-up shares, as on the record date.
A total of 90 crore bonus NBCC India equity shares will be issued out of free reserves, created out of profits, and available as per audited financial statement on March 31, 2024.
NBCC India had a balance of Rs 1,959 crore as reserves & surplus available for capitalisation as per audited financial statements on March 31, 2024. The bonus shares would be credited within two months from the date of approval of Board i.e. by October 31, 2024, the PSU said in a BSE filing.
NBCC India shares are up 109 per cent in 2024 so far and 192 per cent in the past one year. An improvement in order intake, execution and margins along with traction in real estate monetisation bode well for the company, Nuvama said last month.
The company last week announced a couple of order wins including Rs 47 crore orders for SIDBI Vashi redevelopment project and operation & maintenance works at International Craft Complex, New Delhi. It also announced Rs 101 crore worth consultancy order for construction of permanent office building in respect of regional offices (ROs) cum project implementation units (PIUs) of National Highways Authority of India.
NBCC India is well placed for growth, with a robust order book of Rs 81,300 crore and book-to-bill of 7.6 times, Nuvama in its note last month said. It cited strong order accretion with year-to-date order wins at Rs 19,800 crore against Rs 23,500 crore in FY24; and improving real estate monetisation, as a reasons behind its optimism.
“A buoyant realty cycle is resulting in improved opportunities for the company with many PSUs/government looking to monetise surplus land holdings,” it said.