PSU Results Radar ↑: NBCC Eyes Fresh Multi-Year High on Q3 Growth; Will ITI Limited Surprise the Street with a Recovery?

Mumbai, February 13, 2026: The Indian markets are laser-focused on the Public Sector Undertaking (PSU) basket today as two heavyweights—NBCC (India) Limited and ITI Limited—are scheduled to unveil their Q3 FY26 earnings. With the PSU index undergoing a consolidation phase, today's numbers will be a critical litmus test for the "Infrastructure Growth" and "Telecom Turnaround" narratives.

## 1. NBCC (India) Limited: Scaling New Peaks in Execution

NBCC, a Navratna PSU under the Ministry of Housing and Urban Affairs, remains a top pick in the Project Management Consultancy (PMC) space. The street is anticipating a significant jump in operational revenue, backed by a staggering ₹1.2 Lakh Crore order book.

Q3 FY26 Results Preview:

• Revenue Projection: Analysts estimate revenue in the range of ₹3,250 – ₹3,380 crore, representing a healthy double-digit growth YoY.

• Net Profit: Expectations are set for a 16% YoY surge, with PAT likely landing between ₹182 – ₹196 crore.

• Order Win Momentum: The company recently secured a series of high-value contracts, including institutional orders from ICMAI and Namami Gange, totaling over ₹271 crore.

• Investor Watch: Management commentary regarding the completion of stalled Supertech projects and the monetization of land parcels will be key triggers for the stock to re-test its ₹130.70 high.

NBCC: Last 5 Quarters Performance Snapshot

## 2. ITI Limited: The Turnaround Story Gathers Steam

ITI Limited, a pioneer in India’s telecom manufacturing, has been under the scanner for its restructuring efforts. After a period of volatile earnings, the street is looking for signs of a sustained recovery.

Q3 FY26 Results Preview:

• Revenue Recovery: With the BharatNet Phase-3 execution kicking in, ITI is expected to see a significant revenue rebound towards the ₹1,000 crore mark.

• Narrowing Losses: The primary focus remains on the net loss trajectory. Investors are hoping to see losses shrink below the ₹35–40 crore threshold.

• Order Pipeline: The recent ₹6,956 crore BSNL order (Packages 8, 9, & 15) provides high visibility for the upcoming fiscal year.

ITI Limited: Last 5 Quarters Performance Snapshot

## Market Outlook: Where are the Stocks Heading?

Ahead of the results, NBCC is trading near ₹100.50, showing resilience above its short-term moving averages. ITI Limited is hovering around ₹293.60, with the street closely watching the ₹315 resistance level.

Conclusion: NBCC remains a solid "Execution Play" for long-term investors, while ITI Limited offers a "Turnaround Opportunity" for those with a higher risk appetite. A profit beat from NBCC could trigger a sector-wide rally in PMC stocks, whereas a surprise narrowing of losses in ITI could spark heavy short-covering.