Segment Breakdowns (Standalone)
In Q3FY26, the PMC segment remained the growth engine, reporting revenue of ₹2,010.89 crore, up 11.54% year-on-year. For 9MFY26, PMC revenue stood at ₹5,621.82 crore, rising 14.08% over the previous year. Segment profit in Q3FY26 was ₹130.18 crore compared to ₹116.69 crore a year ago, while 9MFY26 profit rose to ₹407.31 crore from ₹312.32 crore.
The Real Estate segment posted Q3 revenue of ₹26.59 crore, up 12.38% year-on-year. However, 9MFY26 revenue declined to ₹57.37 crore from ₹112.87 crore. Profitability improved sharply — Q3 segment profit surged to ₹102.55 crore from ₹13.09 crore, and 9MFY26 profit climbed to ₹112.76 crore from ₹38.21 crore.
The EPC segment reported Q3 revenue of ₹43.55 crore, a steep decline from ₹167.16 crore last year. For 9MFY26, revenue stood at ₹153.66 crore versus ₹431.86 crore. Despite the revenue contraction, EPC turned profitable, posting ₹17.49 crore profit in Q3FY26 compared to a loss of ₹10.38 crore last year. For 9MFY26, segment profit improved to ₹25.96 crore from ₹1.96 crore.
Key Ratios & Efficiency
Employee productivity improved during the year. Revenue from operations per employee increased to ₹4.98 crore as of December 31, 2025, from ₹4.58 crore a year earlier. PAT per employee rose to ₹0.41 crore from ₹0.28 crore.
Total employee strength stood at 1,174 as of December 31, 2025, compared to 1,202 a year ago. While A & B category employees increased to 1,004 from 968, operative staff declined to 170 from 234.
Strategic/Other Highlights
NBCC’s consolidated order book stood at ₹1,26,790 crore as on December 31, 2025 (excluding GST). NBCC accounted for ₹1,12,640 crore, while subsidiaries contributed ₹7,827 crore (HSCC), ₹6,016 crore (HSCL), and ₹307 crore (NSL).
During Q3FY26, the company secured ₹3,100 crore of new business. Key projects included redevelopment of Tulsi Niketan (₹642.82 crore), an integrated township at Chandrapura (₹498.30 crore), works at IIT Mandi (₹332.99 crore), Central University of Kashmir (₹340.17 crore), and Phase-II campus development of IIM Sambalpur (₹179.37 crore). Project values exclude GST.
Outlook Addendum
The order book remains robust at over ₹1.26 lakh crore, with redevelopment and PMC mandates driving visibility. Improved productivity metrics indicate operating leverage. While EPC revenues contracted sharply, the segment returned to profitability. Sustained execution of PMC-led projects and stability in Real Estate margins remain key monitorables.