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1 NLCRef. No.: NCCVR etulatton 34/201"1 Date | 26-Oa-2O77 The S cretiryNationalStock Exchante of lndia Ltd5th Floor, Exchange PlazaBandra - (urla ComplexBandra {E)MUMBAT - 500 No: 021. - 2659 8237 / 38 The S cretaryBombay Stock Exchang Ltd,1't Floor. NewTrading RingRotunda Building, TowersDalalStreet, - 400 001 Fax I 022-227 22037 /39 Dear Sir(s), Code : NSE: NCC & BSE : 500294 Subl Ssbmission of AnnualReport for the Financial Year 2016-17 Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations,2015, we are forwarding herewith Annual Report for the Financial year 2016-17,which has been duly adopted and approved at the Annual General Meeting held on 246 August, request you to take the same on record and acknowledge-Thanking you,Yours faithfullyFor NCC LIMITEOZL-oE-Lr)-MURTH9M V SRINIVASACOMPANY SECRETARY & EVP (T)raGC Umid(tdBt n o"!}

2 D co6,ud's c@ny ! )Cl r L722 OOAPl99 OPlC01uil5ilcc ttoo*, , 5@ 081 r +91 ao 2326 EEIE r +91 tlo 2:112 5555 ncclimned'comAnnual Report 2016 - 17 EnduringStrengthsNCC LimitedEnduringStrengthsNCC s mission is to build a strong future ensuring increased returns to our business portfolio includes infrastructure projects like Buildings, Roads, Water & Environment, Electrical, Irrigation, Power, Metals, Mining, International and Railways which are fortified by four enduring strengths that equip NCC to execute its mission. A proactive management approach with focus on value creation.

3 A disciplined approach to growing our portfolio with focus on financial viability and enhancing returns. Improving Human Resource skills across functions. Building a fundamentally strong NCC with enduring financial strengthThe building featured on the cover page is the ESIC Hospital project at Gulbarga, Karnataka. It has an Ultra Modern multi-specialty 500 bedded Hospital, Medical college, Dental College, Nursing College and Allied works. This building was declared as the best construction project by The Construction Industry Development Council (CIDC) New Delhi in 2016.

4 Table of Contents Disclaimer:in this Annual report we have disclosed forward-looking information to enable investors to comprehend our prospects and take informed investment decisions. This report and other statements written and oral that we periodically make contain forward- looking statements that set out anticipated results based on the management's plans and assumptions. We have tried wherever possible to identify such statements by using words such as 'anticipates', 'estimates', 'expects', 'projects', 'intends', 'plans', 'believes' and words of similar substance in connection with any discussion of future performance.

5 We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwiseAnnual Report 2016-1701 Company Overview 02 Our Customers 03 Key Performance Indicators 04 Message from Founder & Chairman Emeritus 06 Chairman's Message 07 Review by Managing Director 08 Corporate Information 11 Directors' Report 12 Management Discussion & Analysis 35 Report on Corporate Governance 41 Business Responsibility Report 53 Standalone Financial Statements 59 Consolidated Financial Statements 125 Company Overview & Business DivisionsEstablished in 1978.

6 As a partnership firm and converted into a limited company in 1990, NCC has progressed consistently over past three decades. Today we are the second largest Construction Company in India in terms of revenue. NCC was born from a vision to provide world class construction solutions with focus on quality, timely completion, customer satisfaction, continuous learning and enhancement of stakeholders undertakes civil construction in segments such as buildings, water, roads, irrigation, power, electrical, railways, metals, mining and has also a presence in the Middle East where it currently undertakes works in roads, buildings, and water & EnvironmentElectricalBuildings & HousingRoadsBusiness Divisions.

7 NCC s business divisions include buildings and housing, roads, electrical, water and environment, irrigation, railways, power, metals, mining and international business. NCC s diversified operating base across these 10 divisions helps mitigate risk against a slowdown in any single division. Quality Policy :NCC strives to achieve enhanced customer satisfaction by delivering quality products through timely completion in safe working environments. We dedicate ourselves to continual improvement in all fields of our businessQuality Objectives : To consistently deliver quality products by adhering to set specifications, contractual, regulatory and statutory requirements To achieve enhanced customer satisfaction through cost-effective and timely completion To motivate and train staff for continual improvement of quality standards To update and implement the procedures complying with international standards02 NCC LIMITEDM aharashtra Metro Rail Corporation Ltd.

8 | Amaravathi Development Corporation Ltd. | National Highways Authority of India (NHAI) State Public Works Departments (of various states) Karnataka Road Development Corporation | Irrigation and CAD departments (of various States) Hyderabad Metropolitan Water Supply and Sewerage Board | Gujarat Water Supply and Sewerage Board Chennai Metropolitan Water Supply and Sewerage Board | State Electricity Boards (of various States) Maharashtra Airport Development Company, Mumbai | Government of West Bengal, PHE Office, Kolkata Sahara India Commercial Corporation Limited, Pune | Hindustan Aeronautics Limited Bharat Heavy Electricals Limited | National Thermal Power Corporation | Reliance Industries Limited Karnataka Housing Board | Andhra Pradesh Housing Board | Engineers India Limited | Bennett Coleman and Company Limited Patni Computers | Singareni Collieries Company Limited | Delhi Metro Rail Corporation Limited Ansal Properties & Infrastructure Limited.

9 Lucknow | Uttar Pradesh Housing & Development Board, Lucknow Employees State Insurance Corporation (ESIC) | Chennai Metro Rail Limited Shriram Properties Private Limited | Reserve Bank of India | Muscat Municipality, Sultanate of Oman Steel Authority of India Limited | National Institute of Technology | Mahanadi Coal Fields Limited | Symbiosis University Ministry of Defence | Rail Vikas Nigam Limited | NBCC Limited | Allahabad Development Authority Limited Ministry of Transport & Communication - Govt. of Oman | Bihar Agricultural University Maharashtra State Road Development Corporation Ltd | Purvanchal Vidyut Vyapar Nigam Limited Public Health Engineering Department (of various states)

10 | Rashtriya Madhyamika Shiksha, Karnataka Guntur Municipal Corporation, Andhra Pradesh | UP Expressway Industrial Development Authority Indian Institute of Technology, Jodhpur | Directorate of Arts & Culture, Meghalaya | Tamil Nadu Housing Board | National Mineral Development Corporation Limited | Hyderabad Growth Corridor Limited, Hyderabad Sardar Sarovar Narmada Nigam Limited | Dept. of Sports, Govt. of Uttarakhand Irrigation & CAD Department, Govt of Telangana | Nagpur Metro Rail Corporation Ltd. Nagpur | Dept. of Space,Govt. of India, Sriharikota | Indian Institute of Management, Raipur Bangalore Metro Rail Corporation, BangaloreOur CustomersDun &Bradstreet India in its premier publication "India's Top 500 Companies-2017" has ranked NCC-106 among top 500 companies in terms of revenue and 2nd among Infrastructure and Construction Report 2016-17 Key Performance IndicatorsREVENUE (` Million) (` Million)POST TAX PROFIT(` Million)CASH PROFIT(` Million)EBIDTA MARGIN(Margin %)POST TAX PROFIT (Margin %) LIMITEDGROSS BLOCK (` Million)DEBT EQUITY RATIOBOOK VALUE PER SHARE (`)