NBCC standalone EBITDA margin reaches 8.04% in HY1 FY27

NBCC reported an 8.04% standalone EBITDA margin in HY1 FY27, up 311 basis points from 4.93% in HY1 FY26, as earnings before interest, tax, depreciation and amortisation rose 104.91% to Rs 378.93 crore while revenue from operations increased 25.54% to Rs 4,712.66 crore.

How much did NBCC's standalone EBITDA margin expand in HY1 FY27?

NBCC's standalone EBITDA margin expanded by 311 basis points to 8.04% in HY1 FY27 from 4.93% in HY1 FY26. A basis point is one-hundredth of a percentage point, so the reported change represents a 3.11-percentage-point increase during the first half of FY27.

The margin movement accompanied EBITDA growth that exceeded revenue growth. Standalone revenue from operations rose by Rs 958.64 crore, from Rs 3,754.02 crore in HY1 FY26 to Rs 4,712.66 crore in HY1 FY27. Standalone EBITDA increased by Rs 194.01 crore, from Rs 184.92 crore to Rs 378.93 crore, compared with revenue growth of 25.54%.

NBCC defines EBITDA as profit before tax plus interest, depreciation and amortisation, less other income. On this definition, EBITDA added Rs 194.01 crore year on year in HY1 FY27, while standalone profit before tax added Rs 129.63 crore and profit after tax added Rs 89.26 crore.

What standalone profit did NBCC report in HY1 FY27?

NBCC reported standalone profit before tax of Rs 494.07 crore and profit after tax of Rs 375.89 crore in HY1 FY27. Profit before tax increased 35.57% from Rs 364.44 crore in HY1 FY26, while profit after tax rose 31.14% from Rs 286.63 crore.

Profit after tax grew more slowly than both standalone EBITDA and revenue during the half year. EBITDA rose 104.91%, revenue increased 25.54%, and profit after tax increased 31.14%, based on NBCC's HY1 FY26 and HY1 FY27 standalone comparisons.

NBCC's standalone Q2 FY27 results showed a similar pattern in operating earnings. Q2 revenue from operations rose 37.78% to Rs 2,889.62 crore from Rs 2,097.25 crore in Q2 FY26, while EBITDA rose 153.98% to Rs 219.03 crore from Rs 86.24 crore. The quarterly EBITDA margin increased to 7.58% from 4.11%, a 347-basis-point change.

Standalone Q2 FY27 profit before tax was Rs 291.80 crore, up 38.09% from Rs 211.31 crore, and profit after tax was Rs 225.24 crore, up 30.54% from Rs 172.55 crore. The Q2 profit-after-tax growth rate was therefore below the quarter's 37.78% revenue increase and 153.98% EBITDA increase.

How did NBCC's standalone results compare with consolidated results?

NBCC's standalone business reported faster revenue and EBITDA growth than the consolidated business in HY1 FY27. Standalone revenue increased 25.54% to Rs 4,712.66 crore, while consolidated revenue increased 6.57% to Rs 5,655.30 crore; standalone EBITDA rose 104.91%, compared with consolidated EBITDA growth of 75.93% to Rs 380.10 crore.

The consolidated EBITDA margin rose to 6.72% in HY1 FY27 from 4.07% in HY1 FY26, an increase of 265 basis points. NBCC's standalone margin of 8.04% was 132 basis points above the consolidated margin in HY1 FY27, while the standalone margin increase of 311 basis points exceeded the consolidated increase.

Consolidated profit before tax was Rs 494.82 crore in HY1 FY27, slightly above the standalone Rs 494.07 crore. Consolidated profit after tax was Rs 367.86 crore, below standalone profit after tax of Rs 375.89 crore. The presentation separately identifies NBCC, HSCC, HSCL and NSL in the consolidated business data.

What business secured and works awarded did NBCC disclose?

NBCC disclosed Rs 4,176 crore of new business secured and Rs 2,537 crore of works awarded to contractors in H1 FY 2026-27. It also stated that it had declared or paid an interim dividend of Rs 0.40 per share during the period.

On a consolidated basis, new business secured in H1 FY 2026-27 totalled Rs 5,159 crore. NBCC accounted for Rs 4,176 crore, while HSCC secured Rs 39 crore, HSCL secured Rs 773 crore and NSL secured Rs 171 crore.

Consolidated works awarded to contractors totalled Rs 3,166 crore in H1 FY 2026-27. NBCC awarded Rs 2,537 crore, HSCC awarded Rs 15 crore, HSCL awarded Rs 509 crore and NSL awarded Rs 105 crore, according to the presentation.

As of September 30, 2026, NBCC reported a consolidated order book of Rs 1,26,181 crore, excluding goods and services tax. NBCC's reported order book was Rs 1,12,181 crore, while HSCC reported Rs 6,684 crore, HSCL reported Rs 6,979 crore and NSL reported Rs 333 crore. Running projects across the group totalled Rs 33,102 crore.

Conclusion

NBCC's HY1 FY27 figures show standalone EBITDA rising much faster than revenue, which lifted the reported margin from 4.93% to 8.04%. Revenue increased by Rs 958.64 crore, EBITDA increased by Rs 194.01 crore and profit after tax increased by Rs 89.26 crore. Standalone revenue and EBITDA growth also exceeded the respective consolidated growth rates in the half year.

The next disclosed operating indicators will show how new business secured of Rs 4,176 crore and works awarded of Rs 2,537 crore in H1 FY 2026-27 develop alongside the Rs 1,12,181 crore NBCC order book reported at September 30, 2026. The presentation provides these order and award figures but does not set a margin target or an order-book conversion timetable.