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Q1 FY2027 INVESTOR PRESENTATION Executing with Discipline . Building Sustainable Value . 6th August 2026 www.ncclimited.com | investors@nccltd.in NCC NSE : NCC | BSE : 500294 1
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2 Safe Harbor Statement Q1FY2027 This presentation includes forward-looking statements relating to the business outlook, financial performance, growth strategy, and future initiatives of NCC Limited (“the Company”). These statements are based on management’s current expectations and assumptions and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. Such factors include macroeconomic and market conditions, regulatory and policy developments, execution risks including delays and cost overruns, fluctuations in input costs, talent availability, interest rate movements, geopolitical dynamics, and evolving environmental, social, and governance (ESG) priorities. The Company does not undertake any obligation to revise or update these statements considering future events or developments, except as required by applicable law. This document is provided solely for informational purposes and does not constitute an offer, invitation, or recommendation to purchase or sell any securities. It should not be construed as investment, legal, or tax advice. Viewers are advised to conduct their own analysis and consult professional advisors before making investment decisions. While the Company has taken reasonable care to ensure the accuracy and completeness of the information presented, no representation or warranty is made in this regard. Past performance is not indicative of future results. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION NSE: NCC / BSE: 500294
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10 INDEX PERFORMANCE & COMPOSITION SUBSIDIARIES & INVESTMENTSCOMPANY OVERVIEW 4 18 22 QUARTER HIGHLIGHTS 26 31 ESG, CSR & SUSTAINABILITY PROJECTS & AWARDS 3
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SECT ION 01 Company Overview 48+ years. Seven business verticals. Pan -India execution across Buildings, Transportation, Water, Railways, Electrical (T&D), Irrigation and Mining. IIT ROPAR 4
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NCC At a Glance A S A T 30 -JU N-26 Years of Excellence N CC L IMITE D / Q1FY2 027 / INVE STO R P RESE NTAT ION 5 Years of Building Trust, Creating Landmarks and Inspiring Generations Since 1978 Powering Ahead on a Strong Foundation of Opportunity Legacy of Excellence 48+ Pan-India Presence Reaching Every Corner, Delivering Value Nationwide Order Book Resilience Diverse Business Verticals Trusted Partnerships Future-Ready Innovation & ESG Leadership 81k Rs. Crore Expertise Across Sectors, Solutions Without Boundaries Building enduring relationships with leading public and private sector clients through repeat orders and trusted partnerships. Driving Sustainability, Embracing Tomorrow, Leading Responsibly 7
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Key Financial Nos Standalone Q 1FY202 7 / 30 -J UN-26 REVENUE ▲ 12% Y-o-Y EBITDA ₹442 Cr 9% of Turnover ORDE R BOOK ▲ 15% Y-o-Y PROFIT A FTER TAX ₹187 Cr 3.8% of Revenue NET DEBT ₹2,008 Cr D/E: 0.31 x EA RNINGS PER SHARE ₹2.98 Per equity share NCC Limited | Q1FY2027 | Investor Presentation | 6th August 2026 7 ₹71,312 Cr₹4,952 Cr
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Key Financial Nos Consolidated Q 1FY202 7 / 30 -J UN-26 REVENUE ₹5,842 Cr ▲ 12% Y-o-Y EBITDA ₹545 Cr 9.4% of Turnover ORDE R BOOK ₹81,214 Cr ▲ 16% Y-o-Y PROFIT A FTER TAX ₹229 Cr 3.9% of Revenue NET DEBT ₹3,513 Cr D/E: 0.5 x EA RNINGS PER SHARE ₹3.45 Per equity share NCC Limited | Q1FY2027 | Investor Presentation | 6th August 2026 8
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Group Revenue Composition Q1FY2027 / ₹ CRORE REVENUE SHARE BY SEGMENT 80% 12% 5%2% 1% Construction Coal Mining Smart Meters Tunnels Real Estate REVENUE BY ENTITY (₹ CR) 4,650 715 264 129 53 Construction Coal Mining Smart Meters Tunnels Real Estate BUSINESS MIX Construction accounted for 80% of FY26 group revenue. Contribution from Pachhwara Coal Mining and the smart meter SPVs was ₹715 Cr and ₹264 Cr respectively. Construction revenue after inter group eliminations of ₹ 261 cr. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6th August 2026 9
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SECT ION 02 Performance & Composition Division-wise order inflow, execution and order book, with eight-quarter operating trend on a standalone and consolidated basis. WATER TREATMENT P LANT, HATHAD 10
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Division-wise Composition Q1FY2027 / CONSOLIDATED ORDER INFLOW ₹3,889 Cr 36% 18% 34% 10% 2% ORDER EXECUTION ₹5,680 Cr 31% 23%12% 16% 3% 15% ORDER BOOK ₹81,214 Cr 28% 20% 14% 16% 6% 16% Buildings Transportation Water & Railways Electrical (T&D) Irrigation & Others Mining BUSINESS MIX Order book mix at 30 June 2026 compares with 31 March 2026 of Buildings 27%, Transportation 20%, Mining 17%, Electrical (T&D) 17%, Water & Railways 12%, Irrigation & Others 7%. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6th August 2026 11
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4,760 8,440 15,980 3,658 6,233 12,430 4,775 3889 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Quarterly Operating Performance Standalone Q2FY25 - Q1FY27 / ₹ CRORE REVENUE 4,480 4,720 5,445 4,430 3,775 4,082 5,382 4952 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 EBITDA 401 410 495 395 277 327 449 442 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 PAT 160 185 214 190 102 82 203 187 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 ORDER INFLOW NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 12
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Quarterly Operating Performance ConsolidatedQ2FY25 - Q1FY27 / ₹ CRORE REVENUE 5,224 5,383 6,189 5,208 4,585 4,900 6,251 5842 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 EBITDA 443 441 556 456 393 436 550 585 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 PAT 163 193 254 192 155 122 206 229 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 ORDER INFLOW 4,760 8,440 19,280 3,658 6,223 12,430 9,573 3889 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 13
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5,803 6,322 6,813 7,166 7,574 FY22 FY23 FY24 FY25 FY26 1,789 1,184 980 1,005 1,484 2,251 FY21 FY22 FY23 FY24 FY25 FY26 996 1,343 1,648 1,744 1,448 490 569 631 759 577 FY22 FY23 FY24 FY25 FY26 10,038 13,504 18,439 19,393 17,669 10.0% 10.1% 9.0% 9.1% 8.3% FY22 FY23 FY24 FY25 FY26 Five-Year Trend - STANDALONE FY22 - FY26 / STANDALONE / ₹ CRORE REVENUE EBITDA & PAT NET WORTH GROSS DEBT NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION ALL FIGURES ACTUAL - FY22 TO FY26 14 EBITDA %
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5,603 6,167 6,640 7,324 8,029 FY22 FY23 FY24 FY25 FY26 39,361 50,244 57,536 71,568 83,004 FY22 FY23 FY24 FY25 FY26 1,024 1,459 1,769 1,918 1,836 482 609 711 820 724 FY22 FY23 FY24 FY25 FY26 11,209 15,701 20,971 22,355 20,944 9.2% 9.4% 8.5% 8.6% 8.8% FY22 FY23 FY24 FY25 FY26 Five-Year Trend - CONSOLIDATED FY22 - FY26 / CONSOLIDATED / ₹ CRORE REVENUE EBITDA % EBITDA & PAT NET WORTH ORDER BOOK NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION ALL FIGURES ACTUAL - FY22 TO FY26 15
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16 Order Book & Execution AS AT 30-JUN-26 ORDER BOOK As at 31 Mar 2026 ₹83,004 Cr ₹81,214 Cr ORDER INFLOW - QUARTER Q1 FY26 ₹3,658 Cr ₹3,889 Cr BOOK -TO-BILL FY26 ~4x ~3.5x ORDER BOOK QUALITY The order book as at 30 June 2026 is well-diversified across NCC's seven business verticals, providing strong revenue visibility over the medium term. Execution is supported by an established project management framework, in-house design and engineering capabilities, and a proven track record of delivering large, complex infrastructure projects. NEW AWARDS New awards of ₹3,889 Cr secured during the quarter across key infrastructure segments, strengthening the diversified order book. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 Buildings 36% Transportation 18% Water & Railways 34% Electrical (T&D) 10% Others 2% EXECUTION & REVENUE VISIBILITY Revenue growth is expected to be driven by the systematic execution of the existing order book, supported by healthy project mobilisation across businesses and the Company's strong execution capabilities.
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Debt & Working Capital AS AT 30-JUN-26 / ₹ CRORE DEBT WORKING CAPITAL NET WORKING CAPITAL DAYS – STANDALONE Metric Q1 FY26 Q4 FY26 Q1 FY27 Gross debt – standalone 1,852 2,251 2,410 Net debt – standalone 1,497 1,667 2,008 Net debt – consolidated 1,574 2,815 3,513 Debt-equity ratio – standalone 0.24x 0.30x 0.31x Net worth 7,626 7,574 7,761 Metric FY26 Q1 FY27 Working capital excl. cash & margin money deposits 4,887 5,334 As % of turnover 28% 27% Trade receivables 3,336 3,055 Receivable days 73 68 77 102 110 119 97 95 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 17 G ROSS DE BT ₹2,410 Cr · Q1 FY27 Working capital demand loans, Cash Credit & PID 58% Short term Loans incl Current maturities 25% Long term Loans 17% D EB T M I X BY I NS T RU M ENT (S T A ND A LO NE )
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SECT ION 03 Subsidiaries & Investments Pachhwara Coal Mining, NCC Urban Infrastructure and the two AMI smart meter SPVs. TSGEN CO SUBSTATION , SIDHIPET 20 18
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Pachhwara Coal Mining MDO ASSET / NCC STAKE 51% BUSINESS PROFILE Activity Mine developer & operator Operational since 12 December 2018 Location Pachhwara North, Pakur, Jharkhand Client WBPDCL NCC stake 51% Project life 30 years Project cost ₹50,000 Cr (current price) Rated capacity 15 MTPA (achieved FY23) FINANCIALS (₹ CR) Q1 FY26 Q4 FY26 Q1 FY27 Revenue 748 701 715 Profit before tax 30 26 28 Contribution to grp rev. 14% 11% 12% MANAGEMENT COMMENTARY Production of Offtake and evacuation remained aligned with the WBPDCL arrangement during the quarter. Revenue declined 4% YoY and increased 2% QoQ, with contribution to group revenue at 12%. The asset continues to provide a stable, annuity-like earnings stream over its 30-year concession, underpinned by the WBPDCL offtake arrangement. FY26 reference: revenue ₹2,711 Cr, PBT ₹107 Cr, 13% of group revenue. Open-cast mine, Pachhwara COAL MINING / M DO / WBPDCL NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 19
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NCC Urban Infrastructure REAL ESTATE / NCC STAKE 80% KPI (₹ CR) Q1 FY26 Q4 FY26 Q1 FY27 Revenue 30 55 56 Profit after tax 3 1 7 Net worth 422 449 456 T otal debt 91 124 150 NCC investment 216 216 216 MANAGEMENT COMMENTARY NCC Urban operates in the residential real- estate market. Revenue and profitability reflect project sales during the period. NCC investment at ₹216 Cr. FY26 reference: revenue ₹276 Cr, PAT ₹29 Cr, net worth ₹449 Cr. BUSINESS PROFILE Activity Real estate development Operating since December 2005 Presence Bengaluru, Hyderabad, Chennai, Ranchi, Mumbai NCC stake 80% Completed area 11.7 msf Under constructio n 2.78 msf (5 projects) Pipeline 3.72 msf (6 projects) Recent launch NCC Urban Retreat, Hennur Rd Project: Signature Towers Chenna i, T amil Na du NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 20
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Smart Meter SPVs — Maharashtra (RDSS) Q1FY2027 / 30-JUN-26 BUSINESS PROFILE Activity AMI Smart Meter Installation Scheme RDSS Model DBFOOT No. of SPVs 2 (NCC 100% each) SPV 1 NCC AMISP RAY – Pkg-8 SPV 2 NCC AMISP Marathwada – Pkg-9 Client MSEDCL Project Value ₹6,791.59 Cr (incl. GST) Tenure ~10 yrs annuity (FY27/28+) CAPITAL DEPLOYMENT / ₹ CRORE NCC Equity Infused — cumul. 460 Debt Drawn — cumulative 1461 % of meters of deployed 45% Revenue Commencement FY27/28 Concession Period ~10 Years REVENUE MODEL & STRUCTURE Annuity-based revenue model — fixed periodic payments per meter installed and operated over the concession period, giving a long-tail recurring revenue stream. Combined project value ₹6,791.59 Cr (incl. GST) across Pkg-8 (RAY) and Pkg-9 (Marathwada), billed on annuity from FY27/28 onwards. Note: Bihar Smart Meters (NBPDCL) executed directly by NCC standalone project value ₹ 1,648 Cr — see Construction segment. AMI meter installation on site SMA RT METER SPVs / RDSS / MSEDCL NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 21
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S E C T I O N 0 4 Quarter Highlights JABALPUR CABLE-STAYED FLYOVER 22
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23 Quarter Highlights Q1FY2027 OPERATIONAL PERFORMANCE Revenue for the quarter of ₹ 5,842 Cr reflects improving execution momentum across the Company’s key business verticals, up 12% year-on-year at both standalone and consolidated levels. Sequential performance remained broadly stable following the seasonally strong Q4, consistent with the typical execution cycle in infrastructure. Execution is gathering pace, supported by an established project management framework and a diversified project base. PROFITABILITY On a consolidated basis, EBITDA margin expanded to 9.4% (Q1 FY26: 8.8%), with consolidated EBITDA and PAT both higher year- on-year. This reflects a disciplined approach to project selection and cost management, with a clear focus on quality of earnings over volume. Sustainable margins remain central to how the Company evaluates and executes new work across its portfolio. WORKING CAPITAL Working capital management remains a key management priority. The Company continues to focus on accelerating collections, reducing unbilled revenue and shortening the cash conversion cycle across the project portfolio. CAPITAL DISCIPLINE A conservative capital structure and a comfortable debt-equity ratio of 0.5x give the Company the financial flexibility to fund execution, pursue selective growth and absorb sector cyclicality. The order book continues to provide healthy multi-year revenue visibility. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026
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24 Looking Ahead Q1FY2027 INDUSTRY OUTLOOK Government-led infrastructure investment continues to gain momentum across Central and State programmes, supported by the long-term Viksit Bharat 2047 vision. As a diversified EPC company with a pan-India presence, the Company is well placed to participate in this sustained investment cycle. EXECUTION ENVIRONMENT Project execution across the sector continues to be influenced by fund allocation, client approvals, land availability, utility shifting and billing milestones. Management remains focused on mitigating these through disciplined project planning & execution and stakeholder engagement. GROWTH & ADJACENCIES Beyond core EPC, the Smart Meter SPVs add a long-duration, annuity-based income stream. The Company's presence across seven business verticals positions it to capture associated civil and structural scope within large national infrastructure programmes. FINANCIAL DISCIPLINE A stable credit profile, with the AA- rating reaffirmed during the quarter, provides the financial foundation to support ongoing execution and reflects the Company's prudent approach to capital management. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026
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FY27 Guidance Focused on Profitable Growth with Strong Execution ORDER INFLOW ₹22,000 – 25,000 Cr Targeting strong new orders driven by continued sectoral demand and a robust bid pipeline. REVENUE GROWTH 8% – 10% Aiming for strong year-on-year revenue growth, supported by a healthy order book and execution momentum. EBITDA MARGIN 8.5% – 9% Guiding for stable EBITDA margins in a competitive operating environment, reflecting disciplined project selection, cost optimisation and operational efficiency. Committed to creating long-term value through focused execution, prudent capital allocation and a focus on sustainable, profitable growth. NCC LIMITED | Q1FY2027 | INVESTOR PRESENTATION 25
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S E C T I O N 0 5 Projects & Awards Select projects and recognition received. SICPAK FACILITY, SHILLONG 26
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Highways & Power MRR Road Project, Madurai 29.96 km carriageway, Vadipatti to Thamaraipatti on NH- 744A Hon’ble President of India inaugurating Kusumi Project Electrical infrastructure works in Bahraich, Gonda, Balarampur and Shravasti districts, UP NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 27
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Urban Infra & Healthcare LDA Daliganj Flyover 2-lane ROB-cum-flyover from Pakka Pul to Daliganj, Lucknow NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 28 Ground breaking, LTMG Hospital, Mumbai 62 operation theatres and a 14-storey OPD building, serving up to 16,000 patients
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Water & Sanitation Jal Jeevan Mission – Lakhimpur, UP Drinking water schemes completed and formally handed over to the community Jal Arpan – Hardoi, UP Clean water schemes completed and handed over to two Gram Panchayats NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 29
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Awards & Accolades Golden Hook Award LISA 2026 / MMRDA METRO C- 102 ISDA Infracon – Platinum IINA 2026 / HSE / EMAAR AMARIS 5th Nat. Quality Convention QUALITY INNOVATION / IEI MSEDCL Certificate 2.3 MN SAFE HOURS / RDSS T- 17 PWD Certificate – Assam 6 MN SAFE HOURS / IDC BETKUCHI ISDA Infracon National Awards Golden Award – Construction Project Head, national recognition for project leadership. ET Now Realty Conclave & Awards 2026 Commercial Landmark of the Y ear – New Delhi, for a landmark commercial development. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION 6TH AUGUST 2026 30
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S E C T I O N 0 6 ESG, CSR &Sustainability Environmental stewardship, community impact and governance. KASARA–DANTIWADA WATER PLANT 31
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ESG & Sustainability Snapshot FY26 · independently assured across 186 sites in 27 states −17% EMISSION INTENSITY (S1+S2) 6.22 tCO₂e/₹Cr; reflects portfolio and operational changes 88,331 / 21,573 SCOPE 1 / SCOPE 2 EMISSIONS (tCO₂e) FY26 absolute emissions · independently assured Assured BRSR CORE — SGS INDIA reasonable assurance on core disclosures ENVIRONMENT AL emissions, energy, materials Structured energy management and monitoring across operational sites Renewable procurement tripled YoY; solar 424,200 kWh 2.49 lakh MT recycled / waste -derived inputs (GGBS, fly ash, PPC) Nil environmental non -compliance in FY26 SOCIAL people, safety, conduct Worker LTIFR improved 48% to 0.12; employee 0.06 12,371 employees + 19,117 workers across pan- India operations Zero POSH complaints ; 100% accident & health insurance MSME sourcing nearly doubled 10% → 18%; wellbeing 0.24% of revenue GOVERNANCE oversight, assurance Dedicated ESG Committee of the Board ; all 9 NGRBC principles 4 ISO — 9001 / 14001 / 45001 / 27001 BRSR Core reasonable assurance — SGS India 100% Board & KMP ESG training; no data breaches NCC LIMITED · Q1FY2027 · INVESTOR PRESENTATION · AUGUST 2026 32
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CSR & Community FY26 • delivered across healthcare, education, rural development & community welfare [ HERO IMAGE ] hands / sapling 12 ACTIVE CSR PROJECTS FY26 ~16,355 PEOPLE BENEFITED FY26 30.29% RURAL WAGE SHARE (FY25: 30.26%) HEALTHCARE & MATERNAL SUPPORT [ PHOTO ] Supporting maternal & child health, nutrition and access to medical care in underserved communities. EDUCATION & INCLUSION [ PHOTO ] Promoting quality education, digital learning and inclusive opportunities for children and youth. RURAL & COMMUNITY DEVELOPMENT [ PHOTO ] Investing in rural infrastructure, water & sanitation, livelihoods and community well -being. COMMUNITY PARTNERSHIPS [ PHOTO ] Supporting community welfare through implementation partners, improving well -being across underserved communities. NCC LIMITED / Q1FY2027 / INVESTOR PRESENTATION / AUGUST 2026 33
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Thank you INVESTOR RELATIONS investors@nccltd.in www.ncclimited.com NCC House, Madhapur, Hyderabad 500 081 NSE: NCC / BSE: 500294 KU SU MI RESERVOIR, BHUBANESWAR 34