NBCC (India) Limited has issued a corrigendum to its Audited Financial Results (Standalone) for the quarter and financial year ended March 31, 2025. The company clarified that a page containing Notes (Point No. 12 to 18) to the Standalone financial results was inadvertently omitted from the previously published document on May 29, 2025, and has now provided the complete copy.

Key financial highlights for the standalone results are as follows:

• Revenue from Operations for the financial year ended March 31, 2025, stood at ₹8,725.36 crore, an increase from ₹8,026.73 crore in the previous year.
• Net Profit for FY25 was ₹476.11 crore, up from ₹344.36 crore in FY24.
• For the quarter ended March 31, 2025, Revenue from Operations was ₹3,217.53 crore, and Net Profit was ₹137.19 crore.
• Basic Earnings Per Share (EPS) for FY25 was ₹1.76.
• The Board has recommended a total dividend of ₹180.90 crore (₹0.67 per equity share on 27,000.00 lakh equity shares) for FY25, including the interim dividend, compared to ₹113.40 crore (₹0.63 per equity share on 18,000.00 lakh equity shares) for FY24.

The independent auditor's report highlighted several emphasis of matters related to ongoing projects and legal issues:

• Naya Raipur Group Housing plot: The company incurred a total cost of ₹25.52 crore on a plot in Naya Raipur, acquired in 2014, but construction is yet to commence.
• Faridabad land bank: A land parcel in Faridabad, valued at ₹131.78 crore, awaits conveyance deed execution due to pending environmental clearance, for which a provision of ₹10.74 crore has been made towards reduction in Net Realisable Value.
• NBCC Plaza, New Delhi: The project is on hold due to a demand of ₹32.24 crore from the Municipal Corporation of Delhi (MCD) for additional Floor Area Ratio (FAR), despite the company having paid ₹30.22 crore to the Land & Development Office (L&DO). A provision of ₹9.54 crore has been made for construction expenditure.
• Kochi Group Housing Real Estate project: With a total incurred cost of ₹87.33 crore, the project's sale is on hold due to environmental clearance issues. Following a Supreme Court order on May 16, 2025, the company wrote down inventory by ₹80.16 crore, valuing the land at its original cost of ₹2.82 crore and the project at a net realisable scrap value of ₹4.35 crore.
• Alwar Aravali Apartments: This project, costing ₹58.06 crore, has seen no sales since 2014-15, leading to an impairment provision of ₹12.56 crore.
• NBCC Green View, Gurugram: Due to structural cracks, the company has recognized cumulative provisions/write-offs/expenses totaling ₹468.83 crore till March 31, 2025, including an additional ₹15.80 crore in FY25. The National Consumer Disputes Redressal Commission (NCDRC) ordered refunds with 9% annual interest and ₹10 lakh exemplary damages per allottee. A recovery suit of ₹750 crore has been filed against Ramacivil India Construction (P) Ltd. and others. There are 25 pending litigations, and a contingent liability of ₹66.05 crore exists for quantifiable claims from homebuyers/allottees and contractors.
• DVAT Demand: A Value Added Tax demand of ₹404.80 crore was set aside by the Appellate Tribunal and remanded for recalculation; the contingent liability is currently unascertainable.
• GST Demand: A GST demand of ₹90.72 crore (including penalty) for FY 2017-18 is contested, with the Delhi High Court granting a stay on May 19, 2025.

Other matters highlighted by the auditors include:

• The financial statements of 4 foreign branches (Mauritius, Maldives, Seychelles, and Jeddah) were not audited by the statutory auditors.
• The Board of Directors' composition was non-compliant with SEBI regulations regarding Independent Directors for the year ended March 31, 2025. Board-level committees were reconstituted with the requisite number of independent directors from May 16, 2025.

In other corporate developments:

• The company incorporated a wholly owned subsidiary, NBCC Overseas Real Estate LLC, in Dubai Mainland, UAE, on April 23, 2025, for its real estate business, with RBI approval for equity remittance received on May 26, 2025.
• NBCC submitted a Resolution Plan on May 17, 2025, as a Resolution Applicant in the Corporate Insolvency Resolution Process (CIRP) of Celebration City Projects Private Limited, aiming to acquire it as a subsidiary if the plan is accepted.

Segment-wise performance for FY25 shows:

• Project Management Consultancy (PMC) segment generated revenue of ₹7,820.54 crore.
• Real Estate segment reported revenue of ₹269.06 crore.
• Engineering, Procurement & Construction (EPC) segment contributed ₹591.15 crore in revenue.