Blackstone Sells Over 3% Stake In NCC

Blackstone Sells Over 3% Stake In NCC
New Delhi: Infrastructure firm NCC Ltd on Thursday said Blackstone GPV Capital Partners (Mauritius) has offloaded a 3.25 per cent stake in the company through open market sales.

Blackstone GPV Capital Partners (Mauritius) V-A Ltd and Blackstone FP Capital Partners (Mauritius) V FII Ltd sold 1,80,60,002 shares of the company constituting 3.25 per cent stake through open market sales, it said in a regulatory filing.

The sales took place between April 10, 2015 and August 24, 2016, it added.

Post-sales, Blackstone's stake has declined from 10.24 per cent to 6.99 per cent.

For the April-June quarter of 2016-17, the firm reported a nine per cent growth in turnover at Rs 1,929.7 crore against Rs 1,775.2 crore in the corresponding quarter of previous year.

Net profit rose 26 per cent to Rs 52.3 crore as against Rs 41.4 crore in the corresponding period a year ago.

In the first quarter of the current year, the diversified infrastructure development firm secured orders aggregating to Rs 3,620 crore and the order book stood at Rs 19,045 crore as at the end of the quarter.