NBCC secures Rs 2,965 crore from major Q2 FY 27 project wins

NBCC secured projects worth Rs 2,965 crore in the second quarter (Q2) of financial year (FY) 2026-27, led by a Rs 780.38 crore Reserve Bank of India mandate for Amravati office and residential complexes. A Rs 620 crore Seychelles housing project covering 1,008 affordable units was the second-largest disclosed assignment. Project values exclude goods and services tax (GST).

What made up NBCC's Rs 2,965 crore second-quarter wins?

NBCC reported Rs 2,965 crore as the total value of projects secured during Q2 FY 27, while the seven major projects named in its presentation total Rs 2,436.16 crore. The Rs 528.84 crore difference means the stated quarterly total includes secured projects beyond those individually identified as major assignments.

The Reserve Bank of India, the Government of the Republic of Seychelles and the Rajasthan Council of School Education accounted for the three largest disclosed mandates. Their listed projects totalled Rs 1,831.07 crore: Rs 780.38 crore for the Reserve Bank of India complexes, Rs 620 crore for Seychelles housing and Rs 430.69 crore for Rajasthan science laboratories.

How large are NBCC's Reserve Bank of India and Seychelles mandates?

NBCC's largest disclosed Q2 FY 27 mandate is a Rs 780.38 crore project-management consultancy (PMC) assignment for the Reserve Bank of India. It covers construction of an office complex at Nelapadu, Amravati, Andhra Pradesh, and officers' and staff residential accommodation at Anvolu, Amravati, Andhra Pradesh.

The Rs 620 crore Ile Aurore Housing Project in Seychelles is the second-largest disclosed mandate and includes 1,008 affordable housing units and associated infrastructure. At Rs 1,400.38 crore combined, the Reserve Bank of India and Seychelles assignments represented about 47% of NBCC's reported Rs 2,965 crore Q2 project-securement total.

The two contracts use different delivery descriptions. The Reserve Bank of India assignment is expressly identified as PMC work, while the Seychelles mandate is described as construction of housing and infrastructure. The presentation does not provide construction schedules, payment terms, margins or completion dates for either project.

Which domestic projects expanded NBCC's second-quarter pipeline?

NBCC secured Rs 430.69 crore to construct 2,256 physics, chemistry and biology laboratories across 922 Rajasthan government schools on a turnkey basis. The same Rajasthan education authority also appointed NBCC for Rs 121.74 crore to construct 170 replacement school buildings.

The two Rajasthan education mandates total Rs 552.43 crore and cover laboratory capacity as well as replacement of dilapidated school buildings. Their combined value exceeded the Rs 234.78 crore Ladakh project for 28 border outposts (BOPs) by Rs 317.65 crore.

Other disclosed domestic assignments include Rs 160.14 crore for 252 residential staff quarters at a Canara Bank-owned property in Shivalli Village, Manipal, Udupi district. NBCC also listed Rs 88.43 crore for boys' and girls' hostels at various Odisha locations, taking the seven named Q2 projects to Rs 2,436.16 crore.

How do Q2 project wins compare with first-half business and contractor awards?

NBCC reported Rs 4,176 crore of new business secured in the first half (H1) of FY 2026-27, making the Rs 2,965 crore Q2 project total about 71% of first-half business secured. Based on these reported figures, the comparison implies Rs 1,211 crore of new business in Q1, although the presentation does not provide a separate Q1 project list on these pages.

At the consolidated level, NBCC and its subsidiaries reported Rs 5,159 crore of new business secured in H1 FY 2026-27. NBCC contributed Rs 4,176 crore, while HSCC reported Rs 39 crore, HSCL Rs 773 crore and NSL Rs 171 crore. The presentation separately categorises business secured and works awarded to contractors.

NBCC reported Rs 1,185 crore of major works awarded during Q2 FY 27. The presentation identifies a Rs 302.75 crore integrated office complex at HUDCO Plot A-2 in Noida, a Rs 150.07 crore housing project at Indian Institute of Technology Mandi, and a Rs 61.70 crore satellite township at Rakh Gund Aksha, Bemina, Srinagar, among the awards.

The three individually named works awarded total Rs 514.52 crore, Rs 670.48 crore below the stated Rs 1,185 crore Q2 total. The Srinagar township includes two years of operation and maintenance, while the Noida and Indian Institute of Technology Mandi projects are described as engineering, procurement and construction (EPC) assignments. For H1 FY 2026-27, NBCC reported Rs 2,537 crore of works awarded to contractors, against Rs 3,166 crore on a consolidated basis.

Conclusion

NBCC's Q2 FY 27 project wins were concentrated in two large mandates, with the Reserve Bank of India and Seychelles assignments contributing Rs 1,400.38 crore of the reported Rs 2,965 crore total. Education infrastructure added Rs 552.43 crore through two Rajasthan assignments, while border, bank-housing and Odisha hostel work broadened the disclosed project mix.

The next item to watch is conversion of secured work into contractor awards and execution activity. NBCC reported Rs 1,185 crore of Q2 works awarded and Rs 2,537 crore for H1 FY 2026-27, but the presentation provides no completion timetable, financial target or project-specific execution milestone for the Rs 2,965 crore of Q2 project wins.