NEW DELHI: NBCC (India) has reported a growth of 38.47 per cent in its net consolidated profit during the quarter ended June 30, 2024. It had registered profit after tax of Rs 107.19 crore in Q1 FY25 as against Rs 77.41 crore it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 2,197.83 crore in Q1 FY25, a growth of 11.34 per cent from Rs 1,974.03 crore it recorded in the similar quarter last year.
During the quarter ended June 30, 2024, the group has spent total amount Rs 169 crore (Rs 146.69 crore for buyback of flats/units, Rs 19.35 crore against refund of advance received from allottee & Rs 2.96 crore towards stamp duty recoverable from state authorities).
Group has written down inventory amounting to Rs 134.92 crore excess of amount paid Rs 146.69 crore over
proportionate value of units/flats Rs 11.76 crore (lower of cost or net realizable value (NRV)) in the quarter ended on June 30, 2024 and equivalent provision on Rs 134.92 crore as was created in earlier year for buyback of flats/units has been reversed.
Further, during the quarter ended June 30, 2024, the group has spent total amount Rs 65.18 lakh (Rs 46.68 lakh towards rental & Rs 18.50 lakh towards construction cost for reconstruction of flats/units) and equivalent provision as was created in earlier year for reconstruction of flats/units has been reversed.
