NBCC

As a Government of India Navratna, NBCC India boasts an impressive operational structure, primarily focusing on Project Management Consultancy. With a mid to small-cap market cap of ₹27,000 crore, its metrics like ROCE of 33% and ROE of 25% are quite strong, showcasing efficient management. Valuations seem reasonable, not overly expensive given its median PE, and the consistent top-line and bottom-line growth are definitely positives. The President of India's 61.75% stake provides solid backing. We've seen FIIs and DIIs building positions, which is often a sign of "strong hands" taking over from public holders. Its massive order book of ₹12.28 lakh crore offers excellent revenue visibility, making it an attractive prospect, though government approval delays are an inherent risk to monitor.