NCC Limited (NCC) Fair Value & Analysis

Industrials · IN · Market cap ₹94.5B

Below-average quality, screening 59% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain.
• A fairly wide model range (₹144.85 to ₹269.00) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ₹49.87 – ₹351.98 · fair‑value band ₹144.85 – ₹269.00 · the ₹146.45 price screens below the ₹232.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

NCC Limited (NCC) currently trades at ₹146.45, while our model-based Fair Value estimate is ₹232.94, implying the stock looks roughly 59.1% undervalued today. The Quality Score stands at 35/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, NCC Limited generated revenue of ₹208B at a net margin of 3.2%. Revenue grew 1.7% year over year. It earns a return on equity of 9.3%. Net debt stands at ₹21.7B. Fundamentals as of Aug 8, 2026

Our scenario range runs from ₹144.85 (bear case) to ₹269.00 (bull case); at ₹146.45, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 36% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 59%, NCC screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples (₹225.88) versus Dividend Discount (₹35.42). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

NCC Limited operates in the construction business in India and internationally. It operates through the Construction, Real Estate, and Others segments.

Full company description

NCC Limited operates in the construction business in India and internationally. It operates through the Construction, Real Estate, and Others segments. The company constructs buildings, including hospitals, medical colleges, airports, sports complexes, housing projects, IT parks, and industrial and commercial buildings; transportation projects comprising access-controlled highways, road EPC projects, airstrips, metros, tunnels, bridges, and flyovers; and water and environment projects, such as water supply projects, water treatment plants, water distribution networks, underground drainage, and sewage treatment plants. It also engages in the irrigation projects, including lift irrigation schemes, dams, reservoirs, canals, tunnels, barrages, spillways, and aqueducts; mining projects that consist of overburden removal, coal excavation and transportation, and mine development and operation; railway projects, which include civil EPC, track laying, signaling and telecommunication, dedicated freight corridor, and high-speed rail; and electrical projects comprising transmission and distribution lines, substations, project electrification, and system improvements and smart meters. The company was formerly known as Nagarjuna Construction Company Limited and changed its name to NCC Limited in March 2011. NCC Limited was founded in 1978 and is headquartered in Hyderabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

NCC Limited reported revenue of ₹208B in FY2026 versus ₹111B in FY2022, a compound +16.9%/yr. Reported net income was ₹6.8B in FY2026, compounding +8.8%/yr from FY2022.

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Peer Group

Engineering & Construction · 839 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Engineering & Construction median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.