The share prices of Housing & Urban Development Corporation (HUDCO) and NBCC India Ltd. increased by as much as 9% during Thursday’s early trading after the two businesses revealed that they had signed an MOU for a ₹600 crore project in NOIDA, Delhi NCR.
Thursday’s opening price of ₹223.40 for Housing & Urban Development Corporation (HUDCO) shares on the BSE was just marginally higher than the closing price of ₹220.60. Subsequently, the share price of Housing & Urban Development Corporation, or HUDCO, surged up to 9%, reaching intraday highs of ₹240.50.
The share price of NBCC India Ltd. also opened Tuesday at 97.43 on the BSE, about 2% higher than its closing price of 95.70. Following that, the price of NBCC’s shares increased to reach highs of ₹100.49, indicating a 5% gain in intraday trading.
Even if the share prices of HUDCO and NBCC have dropped from their peak in tandem with market corrections, they have nevertheless increased by 118–183% in a single year due to multi-bagger returns for investors.
On Wednesday after business hours, Housing and Urban Development Corporation Limited (HUDCO) and NBCC (India) Limited announced that they would sign a Memorandum of Understanding (MoU) on November 27, 2024, in New Delhi, for the development of a 10-acre plot of land owned by HUDCO in NOIDA. HUDCO plans to build an institutional complex with top-notch amenities on the aforementioned site. It is expected to feature 8.71 lakh square feet of built-up area, with a combination of office space, studio apartments, conference space, shops, and common facilities. The aforementioned project will be carried out by NBCC within the Concept-to-Commissioning scope.
NBCC and HUDCO have been expanding the ongoing initiatives.
HUDCO continues to be Prabhudas Lilladher’s “Conviction BUY.” According to Vice President of Equity Research Shweta Daptardar, HUDCO’s FY25 and FY26 profit projections have already increased by 7% and 3%, respectively, taking into account write-backs driven by expedited bad asset resolutions. As the sanctions pipeline grew stronger, Q2 confirmed our belief in a strong commercial trajectory. This should result in a good profit trajectory when combined with consistent margin visibility and attractive asset quality.
In the meantime, NBCC has also been given an order to upgrade primary school hostels (PSH) across the state of Odisha under the State Sector Scheme. For revenue visibility, the award for projects totalling ₹318 crores is stillfavourablee. According to a recent investor presentation, NBCC’s order book was already worth 84,400 crore.
