NBCC India Ltd (NSE: NBCC) Q2 2025 Earnings Call dated Nov. 14, 2024
Corporate Participants:
K. P. Mahadevaswamy — Chairman & Managing Director
Unidentified Speaker
Anjeev Kumar Jain — Director, Finance
Suman Kumar — Director, Commercial
Analysts:
Ankita Shah — Analyst
Vasudev Ganatra — Analyst
Pankaj Kumar
Skyone
Shivam
Presentation:
Operator
Ladies and gentlemen, good day, and welcome to NBCC (India) Limited Q2 FY ’25 Earnings Conference Call hosted by Elara Securities Private Limited. [Operator Instructions] Please note that this conference is being recorded. I now hand the conference over to Ms. Ankita Shah from Elara Securities Private Limited. Thank you, and over to you, ma’am.
Ankita ma’am?
Ankita Shah — Analyst
Hello, Yes. Am I audible?
K. P. Mahadevaswamy — Chairman & Managing Director
Yes, yes.
Ankita Shah — Analyst
Hi, welcome, everyone, to the NBCC (India) Limited 2Q FY ’25 earnings conference call. We are grateful for the opportunity. And we have with us the Management team represented by Shri K. P. Mahadevaswamy, Chairman cum Managing Director; Shri Saleem Ahmad, Director Projects; Dr. Suman Kumar, Director, Commercial; Shri Anjeev Kumar Jain, Director, Finance; and Mr. Balkishan Singla, Investor Relations Officer.
We’ll start with opening remarks and then follow it up with the Q&A. Thank you, and over to the Management team.
K. P. Mahadevaswamy — Chairman & Managing Director
Good afternoon, everyone. On behalf of NBCC team, I extend a warm welcome to you and appreciate your presence in today’s earning call for second quarter ended 30 September 2024. I wholeheartedly welcome our new Director Finance, Shri Anjeev Kumar Jain. Now all functional directors of NBCC are on board to take Company to new heights.
For quarter two, our stand-alone operations and execution, we have achieved a total operating income of INR1,865 crores, reflecting 15% year-on-year increase. Additionally, our PAT stands INR124 crores, making 45% year-on-year growth.
For half year, we have achieved a total operating income of INR3,492 crores with 13% year-on-year increase and PAT stands INR210 crores, marking 42% year-on-year growth.
For half year consolidated performance, NBCC has achieved total operating income of INR4,603 crores reflecting an 16% increase on year-on-year with INR232 crores PAT, marking 46% year-on-year growth.
Major business updates. New projects secured during this quarter. NBCC has secured substantial amount of business in the first half of the year valued INR22,300 crores on a stand-alone basis and INR28,000 crores on a consolidated basis. This is one of the highest ever business secured in six months. To name a few important and large-scale projects, development of satellite township spread over 406 acres at Srinagar, J&K valuing of INR15,000 crores. First phase work Goa INR1,226 crores will encompass six projects in Goa, and we have partnered with Goa government, various other additional infrastructure works in future.
Redevelopment of land parcel of MTNL INR1,600 crores, redevelopment of two land parcels in Jhansi INR700 crores. For above few projects, appointment of consultant is in final stage which will be followed by appointment of contractor for execution of the projects. HSCC AIIMS Darbhanga project which is valuing of INR1,260 crores, foundation stone laid by Honorable Prime Minister on 13/11/2024, that is yesterday. Test To Treat Arogya Yojana for Maharashtra construction workers welfare board, INR700 crores. Procurement of biomedical equipment for Pandit Deen Dayal Upadhayaya University at Karnal Haryana INR528 crores. In HSCC, new government medical college 420-bedded hospital at Parbhani, Maharashtra, INR404 crores.
Update in Amrapali projects. In half yearly one, Amrapali project has contributed INR708 crores in the top line and the remaining will be contributed in next two quarters. Out of 38,000 housing units, 24,000 units are completed. Work on Amrapali Phase 2 project is going on fast track, tendering a valuing of INR8,400 crores for six projects are uploaded and will be awarded in upcoming months. And this will start contributing turnover in fourth quarter.
Update on our redevelopment projects. In half yearly, GPRA project has contributed INR1,012 crores in top line, up by 45%. Nauroji Nagar project is on finishing stage, and we have already started handing over of the project and 100% sale is completed to generate the funds. Netaji Nagar, the first phase of project valued at INR1,450 crores is currently underway and 80% completed. Additionally, two more tenders were worth of INR2,000 crores are in pipeline for contractor appointments.
Sarojini Nagar. This is a large project and works in more than two places worth of INR6,900 crores are going on, which are in different stages of execution. Received occupancy certificate that is type two quarteral [Phonetic] of 1,738 quarters it will be awarded to — alloted to government officers at the earliest.
Major focus area of NBCC in upcoming months. Stalled real estate projects. [Indecipherable] Amrapali project experience and expertise, NBCC is examining feasibility few more steps in executing [Phonetic] projects in Delhi and NCR and Mumbai regions, where homebuyers is facing such big problems, primarily is expected to join in the stalled project list by this year-end.
NBCC real estate sales, we are also focusing to increase the contribution of our real estate in both top line as well as bottom line. Land monetization. Government agencies, including PSU, have a lot of land parcels across India, which are not generating any revenue. Moreover, encroachment on such land parcels are cause great distress to the health checkers. NBCC has been accessing these opportunities and started feasibility of few land parcels across pan-India.
Opportunities in hospital and education institutions. NBCC, along with our subsidiary like our buildings in India’s prime institution like AIIMS, IITs, NITs, IIMs, state and central government universities, and we are having more opportunity in this segment. After a successful journey of redevelopment business model, NBCC is also eyeing some large-sized projects in the segment in upcoming months, specifically in government colonies, redevelopment as a lot of colonies are in not good shape as these are very old built colonies. Diversification. Acquisition of underperforming public sector units with significant land assets.
Thank you. Now the forum is open for the question-and-answers.
Questions and Answers:
Operator
Thank you very much. We will now begin the question and answer session. [Operator Instructions]
We have our first question from the line of Ankita Shah from Elara Securities. Please go ahead.
Ms. Ankita?
Ankita Shah
Yes hi. Yes, yes, yes. Hello am I audible?
Operator
Yes you are audible. Please go ahead.
Ankita Shah
Sir, what is the current order book status and given the order book status and the breakup between redevelopment and EPC and PMC projects?
K. P. Mahadevaswamy
Total order book in consolidated level, INR84,400 crores, out of which NBCC around INR70,413 crores, HSCL INR8,093 crores, HSCL INR5,915 crores and NSL INR200 crores. So this is our consolidated order book, INR84,400 crores, so out of which PNC around 55% and 45% in redevelopment, some 2%, 3% real estate and EPC.
Ankita Shah
Got it. Sir, our target for the full year that we had guided was around INR10,500 crores of revenue and bottom line of INR400 crores. Do we think we are on track for the same?
K. P. Mahadevaswamy
Yes, definitely, definitely. We’ll going to achieve the top line around INR13,000 crores. Bottom line, it will be — already we have achieved INR265 crores PAT. So it will be more than that whatever your target we’re going to achieve more.
Ankita Shah
Got it. And sir, how is the — given first half had seen good inflows, how is the pipeline for the second half? And for the full year, what is the order inflow that we are targeting?
K. P. Mahadevaswamy
So far during this year, we have secured more than INR28,000 crores at a consolidated level. So we are expecting a few more projects. During this year, we are going to achieve INR1 lakh crore order book, that is our target. So that will be easily — I think it is achievable. Another INR14,000 crores, we have to achieve — INR16,000 crores that we are going to get during this year itself.
Ankita Shah
Got it. And sir, what are the key projects that will contribute to revenues in FY ’26, next year?
K. P. Mahadevaswamy
Next year? Next year, Amrapali, of course, Phase II, Amrapali redevelopment projects, the redevelopment of Srinagar also that is also going to contribute. And Goa government, state government. Kerala state government tender will be uploaded very shortly. So that is also going to mature. And some university works are there. So in Oil India, Northeast, we started Oil India work and border fencing work of Northeast region.
So, so many other projects are there. These are all the major projects. And Maldives also we are getting some revenue regarding — outside, abroad, we can get some revenue from Maldives.
Ankita Shah
So we can assume that 15% to 20% growth rate in execution can continue even in ’26 and ’27?
K. P. Mahadevaswamy
Yes, definitely, definitely, at least 20%, we can — because the work — Amrapali work Phase 2 will be awarded by next month. So from next year — next first — last quarter, we’re going to get the revenue from Amrapali. And [Indecipherable] also will go into good start our commercial activities. So definitely.
Ankita Shah
Got it. Sir, one last from my end. In terms of margins, how do you think the margins should pan out over the next two to three years?
K. P. Mahadevaswamy
Currently, our EBITDA is — PAT margin is around 6% — 6.6%. So whatever we have committed 6% to 7%, definitely, we’re going to reach out that margin. And EBITDA, 5.5% to 6%.
Ankita Shah
Got it.
Operator
Thank you. [Operator Instructions] The next question is from the line of Vasudev from Nuvama.
Vasudev Ganatra
Thank you for the opportunity and congratulations on a great set of numbers. So sir, out of this INR84,400 crores of consolidated order book, how much is currently under execution?
K. P. Mahadevaswamy
Currently only INR18,000 crores in execution at the NBCC level. Consolidated level, around INR22,000 crores.
Vasudev Ganatra
Okay. And sir, how much worth of projects have been awarded in Q2? And what is the target for the full year?
K. P. Mahadevaswamy
Already awarded around INR3,600 crore. But targets for this year-end, around INR14,000 crores will going to award. INR8,600 crores of Amrapali is on sale and another INR2,000 crores, INR3,000 crores work also in pipeline only. So during this year around INR15,000 crore work we’ll going to award.
Vasudev Ganatra
Okay, sir. And for Nauroji Nagar, you said that you’ve sold it completely. So what is the total sales that we’ve done in this project?
K. P. Mahadevaswamy
Total sale value we got around INR14,000 crores in 25-acre land. By selling the commercial space, we generated INR14,000 crores.
Vasudev Ganatra
Okay, sir. And in this quarter how much of real estate have been sold? And what is our target for the full year?
K. P. Mahadevaswamy
Real estate during the half yearly, it’s still INR84 crore. So another INR100 crores to INR200 crores, we are targeting for this year.
Vasudev Ganatra
Okay. So INR100 crores to INR200 crores in H2 or for the entire year?
K. P. Mahadevaswamy
In H2, I’m saying.
Vasudev Ganatra
Okay. Sure, sir. And just last one from my side, what — how much is our seed money currently and pending interest on that?
K. P. Mahadevaswamy
So seed money, we received from Nova. We have infused that seed money in Amrapali, around INR400 crores we have invested in Amrapali and interest, INR190 crores we have to receive from the ministry.
Vasudev Ganatra
Okay. Sure sir that’s it from my side I’ll come back in the queue.
K. P. Mahadevaswamy
Thank you.
Operator
Than you. [Operator Instructions] We have our next question from the line of Pankaj Kumar from Kotak Securities.
Pankaj Kumar
Thank you sir. Just wanted to understand what value of contracts that we are targeting to award in next financial year both at consol and the stand-alone level?
K. P. Mahadevaswamy
Contract awarding?
Pankaj Kumar
Yes. What value of contract awarding.
K. P. Mahadevaswamy
Around INR15,000 crore, INR15,000 crore worth we’re going to award.
Pankaj Kumar
This is FY ’26 you are saying?
K. P. Mahadevaswamy
Next year. You’re saying next year?
Pankaj Kumar
Yes, next year.[Speech Overlap]
K. P. Mahadevaswamy
Around INR10,000 crores to INR15,000 crores. The Srinagar work will go into award and Goa, Srinagar, that Kerala housing boat, so MTNL. Around INR15,000 crores, INR10,000 crore to INR15,000 crore. [Speech Overlap] final stage. So next year, we’ll definitely award this work — we’re going to award.
Pankaj Kumar
So we are going to see a [Indecipherable] awarding vis-a-vis this year may be a flattish kind of awarding in next year.
K. P. Mahadevaswamy
Pardon me?
Pankaj Kumar
So awarding will be similar to what we have in the current financial year [Speech Overlap]
K. P. Mahadevaswamy
Yes, yes.
Pankaj Kumar
So this INR84,000 crores of order backlog that we are having as of now, what is the time line for execution?
K. P. Mahadevaswamy
Four to five years because redevelopment project, we have to generate ourselves money. So there, we need four to five years, whereas P&C only one and half year to two years, we can do.
Pankaj Kumar
And sir, the second thing is the medical college projects would be booked under subsidiary or like under NBCC? Which all projects is booked in NBCC?
K. P. Mahadevaswamy
AIIMS Darbhanga under the subsidiary, that is HSCC secured the AIIMS and some few medical colleges that Maharashtra, state government got by our — one of the other subsidiary that is HSCL. And AIIMS Bilaspur, we have Phase 1 successfully completed. Phase 2 work, we got, NBCC got around INR200 crores in AIIMS Bilaspur.
Pankaj Kumar
And sir, you said you would be looking at more redevelopment projects, old government colonies, so which all those projects that we are looking and from which geography? Is it from NCR or some other part.?
K. P. Mahadevaswamy
For next year, I think we’ll be focusing on Bihari, Chhattisgarh because all the state government have huge land parcel in the city area. Presently, we are doing the redevelopment in Delhi only. So we extended our arm to Jammu Kashmir, similarly Goa, Kerala Housing Boat. So same thing, UP also, we are focusing. So next year, I think with these two, three states, we’ll definitely going to get. And we are focusing on Tamil Nadu also, where discussion is going on with Tamil Nadu, Bihar government and Chhattisgarh government.
Pankaj Kumar
And these would be of what size? Will it be very huge size that we have as of now or it will be [Speech Overlap]
K. P. Mahadevaswamy
Almost, because they have huge land parcel. So INR10,000 crore to INR15,000 crore at least each government we can get, from each state government.
Pankaj Kumar
Okay. And sir, on this seven GTI [Phonetic] project, what is the value of outstanding projects that we have to award? Out of the INR25,000 crores is the total value, I believe.
K. P. Mahadevaswamy
Yet to award. Around INR8,000 crores.
Pankaj Kumar
It’s largely on the Nauroji Nagar?
K. P. Mahadevaswamy
[Speech Overlap] Nauroji Nagar is completed. Nauroji Nagar there is no balance. So only Sarojini Nagar and Netaji Nagar.
Pankaj Kumar
Yes sir. Okay sir thank you.
K. P. Mahadevaswamy
Thank you.
Operator
Thank you. [Operator Instructions] We have our next question from the line of Skyone [Phonetic], a shareholder. Please go ahead.
Skyone
Hello sir am I audible?
K. P. Mahadevaswamy
Yes, yes. Please.
Skyone
Yes. So I needed to know the progress and projected time line on the construction of border fencing along the Indo-Bangladesh border? And also, there was a INR31,000 crores fencing in India-Myanmar border. How much of the opportunity can you benefit from this order?
K. P. Mahadevaswamy
Recently, we got around INR440 crores work from Indo-Bangla border fencing. So future also, there will be a scope for us, this work initially eight, ten years back awarded to NPCC. So they have withdrawn from the NPCC and we got this work order. So we’re going to get a few more work order also from them.
Skyone
Okay. And on the India-Myanmar border [Technical Issues] get some share?
Unidentified Speaker
We are discussing with the ministry for India-Myanmar and Indo-Pak border also. So discussions are going on, and we are hopeful to get good chunk of work from them for both Indo-Pak and Indo-Myanmar.
Skyone
Okay. Thank you so much.
Operator
Thank you. [Operator Instructions] We have our next question from the line of Pankaj Kumar from Kotak Securities.
Pankaj Kumar
Yes sir, thanks for the follow up. Sir, what is the total cash balance that NBCC is having on the stand-alone, its own cash as well as under construction.
Anjeev Kumar Jain
Yes. I’m Director Finance. Stand-alone cash flow is INR723 crores as far as NBCC is concerned. And in consol level, it is INR600 crores as of 30/9/2024.
Pankaj Kumar
Okay. And on the real estate, what is the pipeline that we have? What is the total land bank and business development that we have for the next season?
Anjeev Kumar Jain
Can you come again?
Suman Kumar
Yes. I am Suman Kumar, Director Commercial. As of now, we have 55 acre of land located in different parts of the country. Major land chunk is Gaziabad, Gurgaon and Rajasthan, Jaipur. So in the coming — in this financial year we are going to award around INR800 crores.
K. P. Mahadevaswamy
That is Jaipur and Coimbatore.
Suman Kumar
Jaipur and Coimbatore
K. P. Mahadevaswamy
Coimbatore already tender is finalized, so we’ll going to award that shortly.
Suman Kumar
So altogether, minimum INR800 crore will be awarded in the real estate.
Pankaj Kumar
So these are all real estate
Suman Kumar
Yes, all real estate, yes.
Pankaj Kumar
Okay. So in terms of presales, how this would look like for the current year and the next one?
Suman Kumar
In the next year, the figure will be even larger. It will be around INR2,000 crore.
Pankaj Kumar
This should be through joint development we’ll be looking at or?
Suman Kumar
No, NBCC alone applicate the all brand design and through out the tender, and it will be totally supervised by NBCC. And the sale will be also done by the NBCC marketing group.
Pankaj Kumar
Okay. So this land is all owned by NBCC?
Suman Kumar
Yes, all owned by NBCC, right.
K. P. Mahadevaswamy
Our own land parcels.
Suman Kumar
We have got the own land parcel of 55 acre allocated in different states of the India.
Pankaj Kumar
Okay. And sir, in terms of guidance, how we are looking at FY ’26 in terms of order inflows and revenue growth — revenue terms?
Suman Kumar
Yes, yes. In the real estate sector, our revenue margin, net profit is around 20%, to 25%. And we are also interested to start a land chunk in Ghitorni which is in Delhi itself. It is around 32-acre land and it is very [Indecipherable] land, most probably drawing will be approved within three, four months. In next financial year, the contribution from real estate will be enhanced substantially.
Pankaj Kumar
And sir, overall, in terms of NBCC consol level, what kind of revenue as well as NBCC standalone that you’re looking for next year and order inflows for the next? Any guidance on.
Suman Kumar
In today, I think proceeds will be around INR300 crores to INR400 crores by March 2025. But in the next financial year this figure of realization, our profit will be more than INR1,000 crores.
Pankaj Kumar
For the consol order inflow guidance for next year, FY ’26?
K. P. Mahadevaswamy
INR1 lakh crore. Consolidated level next year by the year-end, we’re going to touch around INR1 lakh crore.
Pankaj Kumar
And the revenue guidance for next year?
K. P. Mahadevaswamy
Revenue, INR13,000 crores.
Pankaj Kumar
That’s standalone, I think.
K. P. Mahadevaswamy
Next year, INR15,000 crores.
Pankaj Kumar
Okay sir thank you.
K. P. Mahadevaswamy
Thank you.
Operator
Thank you [Operator Instructions] The next question is from the line of Shivam [Phonetic], a shareholder. Please go ahead.
Shivam
Yes. Sir, what will be the value of the Ghitorni land? the 38 acres?
K. P. Mahadevaswamy
32 acres. It is 32-acre land. So the value will be around — we don’t want to sale the land. It will be built in by — after built we’re going to sell the FAR. So that is our purpose around INR4,000 crores. This will be INR4,000 crores. And the profit will be more because it is our own land.
Shivam
So the gross of development value will be INR4,000 crores on Ghitorni?
K. P. Mahadevaswamy
Book value is only INR195 crores, whereas we are going to get around INR4,000 crores.
Shivam
So the real estate sales will be INR4,000 crores?
K. P. Mahadevaswamy
Yes, Yes, yes.
Shivam
Okay. And what is the more real estate projects that we are expecting? What will be the sales guidance like for this year and the next year?
K. P. Mahadevaswamy
Sales for, we have three land parcels in Jaipur, one residential and two commercial land parcel. One in Ghaziabad, the other one is also in the Ghaziabad. Kochi we have our land parcel and this Coimbatore, we have land parcel in [Technical Issues] also, so that also we are planning to develop in Mauritius [Phonetic] land also.
Shivam
So this year, any real estate project you will be launching?
K. P. Mahadevaswamy
Already, we have called a tender for Coimbatore. So Coimbatore and Jaipur, I think, we’ll go to launch this year only.
Shivam
So what is the presales number that’s expected out of it?
K. P. Mahadevaswamy
In Coimbatore around INR600 crores, Coimbatore and Jaipur.
Shivam
Okay. And for the next fiscal year, how much real estate presales are you guiding?
K. P. Mahadevaswamy
Next year around INR2,000 crores — our Director Commercial told around INR2,000 crores, we can from next year.
Shivam
So, Ghitorni won’t be coming next year?
K. P. Mahadevaswamy
Because that revenue will be coming after handing over. So we’re going to start the construction from next year onwards, but the revenue in our own real estate, it will be coming while handing over to them only. The sale will be taken place next year, but revenue will come later, after handed over.
Shivam
So you’re going to fully launch Ghitorni next year?
K. P. Mahadevaswamy
No, in phased manner. We wanted to do in phased manner from three to four phases because that is 32-acre land. So we are doing due diligence and all. So appointment of consultant also in process. So once it is appointed and due diligence, then we’ll go to start the sale.
Shivam
Okay [Speech Overlap]
K. P. Mahadevaswamy
That is our own real estate. Book value is only INR195 crores, but we are going to get around INR4,000 crores — only INR2 crores, only INR2 crores book value is only INR2 crores, sorry, INR1.95 crores, instead of that INR195 crores I told.
Shivam
Okay. And any update on the PSU redevelopment? Has it started? Is it picking up. You’ve got any orders and all that?
K. P. Mahadevaswamy
Yes, we got the MTNL. MTNL today, we got it — going to finalize the appointment of consultant in the MTNL land parcel of Pagga road in Delhi. So once, it is — it is a role model, once it is through means, then definitely, we can get some more land parcel monetization for MTNL, BSNL. Not many PSUs are there. So we are firstly doing one project.
Shivam
Okay. And sir, what will be the — like, I missed on your order book number till 14 of November, how much is the order book number right now?
K. P. Mahadevaswamy
Right now, INR84,000 crores, including our subsidiaries. Stand-alone around INR70,000 crores.
Shivam
INR84,000 crores in total.
K. P. Mahadevaswamy
Yes, yes.
Shivam
Okay. And sir, any — like is there any update on the defense forces land bank? Are they going to utilize that or redevelop it?
K. P. Mahadevaswamy
Not yet. We are interested. We are keen on even defense land also. Some discussion is going on, not mature presently.
Shivam
And sir, this fiscal year, what will be your top line and margin guidance?
K. P. Mahadevaswamy
INR13,000 crore in the top line, bottom line 6% to 7%.
Shivam
Okay. The 6% to 7% margins?
K. P. Mahadevaswamy
Yes.
Shivam
Okay thank you so much. Thank you so much.
K. P. Mahadevaswamy
Thank you.
Operator
Thank you. [Operator Instructions] The next question is from the line of Vasudev from Nuvama.
Vasudev Ganatra
Thank you for the follow up sir. So sir, I wanted to know what is the scope in the Supertech projects? Like what kind of potential do we see in these projects — in the Supertech projects? And when do we expect to get some orders from there?
K. P. Mahadevaswamy
Supertech is a stalled project, and it is having 50,000 units. Amrapali, only 38,000, whereas Supertech around 50,000 units yet to be added by the builder. It is also costing about around INR10,000 crores to INR15,000 crores construction work. So it will be completed in three phases. We already submitted our report expression of interest to Supreme Court as well as NCLT. Next month — sorry, this month 21, I think there will be an NCLT hearing. Around 25,000 homebuyers are keen to take up this project by NBCC.
So we are waiting for the NCLT order. As soon as we get the order means, then I think INR10,000 crore business, we’ll going to get immediately. This will go into give the relief to 50,000 homebuyers. Since already we have completed Amrapali successfully, so Supreme Court and as well as NCLT, homebuyers also very keen they’re asking us to complete this project.
Vasudev Ganatra
Okay. Sure, sir, thank you. And on the Amrapali front, what does the total orders which are completed and which is still ongoing?
K. P. Mahadevaswamy
Total around INR8,200 crores work order we got from Amrapali, out of which we have executed INR7,400 crores, so only INR800 crores worth of value is pending. Recently, they have engaged two more works to us. That is one is Kochi and the other one is Bhilai. So that also we are going to call the tender.
That is a small value. And in Noida, they have one property that is tech park that is also the appointment of consultant in process. So — and Phase 2 already, as I mentioned, some INR8,400 crore tender already uploaded on the website, we’ll go in to finalize by this quarter end, that is third quarter. And from fourth quarter onwards, I think the execution will start.
Vasudev Ganatra
Okay sir. And sir, there were some rules earlier that housing industry are looking for commercialization of 45 acres of land at the India mart [Phonetic], Africa Avenue and Sarojini Nagar, so any status over there?
Suman Kumar
We have five land parcels in Sarojini Nagar in different patches. One is in 15 acre, second is 9 acres and two more land chunk of 15 acre each and one land parcel is 6 acre. So we have already prepared drawings and designs. We have presented the drawing and design to the ministry. And it has been through by the ministry, most probably within one month, all tenders will be floated.
Vasudev Ganatra
Okay, sir. And sir, lastly, in Netaji Nagar and Sarojini Nagar, have we sold anything till date?
Suman Kumar
Yes. In Sarojini Nagar, we have sold downtown. Commercial property we have sold in INR1,400 crores.
Vasudev Ganatra
Okay. INR1,400 crores. Sorry, sir, where was this site?
K. P. Mahadevaswamy
[Technical Issues] around 600 shops and office spaces for middle class.
Vasudev Ganatra
Okay sure sir that’s it from my side. Thank you.
K. P. Mahadevaswamy
Thank you.
Operator
Thank you. [Operator Instructions] As there are no further questions, I would now like to hand the call to Ms. Ankita Shah from Elara Securities Private Limited for closing remarks. Over to you, ma’am.
Ankita Shah
Thank you all for joining us on this call. In case if you have any further questions, you can get in touch with us or Mr. Balkishan Singla, our Investor Relations Officer at NBCC. Thank you all, and have a great evening.
Operator
Thank you.
Unidentified Speaker
Manav, Manav. We have a closing from the Team [Phonetic].
Operator
Sure, sure.
K. P. Mahadevaswamy
Thank you so much for your continued support in NBCC. I would like to highlight a few key aspects before final closing. As we are all aware, NBCC has secured a lot of new business in last few quarters, and now we are focusing more in [Indecipherable] show our commitment towards completion of these projects and increase our revenue and profit. Since our functional directors onboarded will do work with our full dedication in upcoming quarters. And as next six months are best for working season, so for construction of companies, and we will enchase [Technical Issues] opportunity.
So in upcoming quarters, we are target to get Supertech and execution of Amrapali Phase 2 would be the key focus. NBCC has order book of around INR84,000 crores. We are targeting to take INR1 lakh crore at the end of this financial year.
Once again, thank you, everyone.
Operator
[Operator Closing Remarks]