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6X Multibagger Stocks India · Noida Toll Bridge Company Ltd · Sep15

Noida Toll Bridge Company Ltd

Value Pick : Summary

About Business :

The Noida Toll Bridge Company Ltd. (NTBCL) has been promoted by Infrastructure Leasing and Financial Services Ltd. (IL&FS) as a special purpose vehicle (SPV) to develop construct, operate and maintain the DND Flyway on a Build Own Operate Transfer (BOOT) basis.

It operates DND Flyway which crosses Yamuna river to connect Ring Road from South Delhi to Posh area & Commercial hub of Noida at Sec 15 & also to Mayur Vihar (Delhi).

SWOT Analysis :


  • Monopolistic nature of Toll Bridge because of fastest connectivity between Busy South Delhi & bustling Noida.
  • Agreement Clause to increase Toll with CII (Inflation) linked formula on regular basis (YoY).


  • Amended Concession Agreement on strong people protest and Continuous PILs filed against the Noida Toll Bridge Company Ltd. to End the DND Flyway in 2031.
  • Dropped the profit clause of compulsory 20% gain on original investment which is totally against the investors interest. ( This is subject to approval at AGM 2015 which is almost going to pass ).


  • Barapullah Nullah Elevated Road (BPNER) phase II is about to complete which will put additional entry & exit ramps to Ring Road in South Delhi which will in turn give access to DND signal free.
  • It will be major break for commuter to travel signal free from Noida/Greater Noida/ Mayur Vihar signal free to Moolchand, Defence Colony, Lajpat Nagar, and Jawahar Lal Nehru Stadium / INA Market.


  • DND Flyway continuously compete with two free bridges which cross the Yamuna River, namely, Nizamuddin Bridge and Okhla Barrage/ Kalindi Kunj Bridge.
  • Due to congestion in peak hours Noida Authority has started to work on Okhla Barrage expansion ie, Construction of new bridge has already begun.
  • Barapullah Nullah Elevated Road ( BPNER) in Phase III would likely be extended over yamuna to connect Mayur Vihar directly subject to mood & execution of Delhi Government.

Business Verdict :

In long term view the traffic on DND Flyway is going to increase in spite of threats & weaknesses since traffic is on the rise in Delhi & Noida. Lot of people commute between South Delhi & Noida by car (like me) who are sort of loyal to DND Flyway because of its time saving nature & this kind of traffic is going to increase in Long term making it indeed a multibagger stocks India.

Because of this amazing Quality of Business no matter what happens in Macro economic situations & competition I believe being a Delhite since birth that Noida Toll’s turnover will increase YoY as traffic is increasing as well as pricing power is solely controlled by NBTCL.

Official Website

Quality Analysis
Value Matrix

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jasmeet singh

Founder & Investor

SEBI Regd.(INH100004951)

Jasmeet Singh

About me :

Currently managing assets of 5 Crore+ & still sleep like a baby every night because Valueguyz makes life simpler.

I am passionate about 3 things in my life Financial System, Fitness & Photography

I got introduced to Financial system through Forex Trading back in 2007 during my 3rd Year of Engineering & It was too complex yet magnificent. Officially I entered Indian Stock Market in early 2008 at the very beginning of Global Financial Crisis, but what the hell did I know for me it was the last semester & time to get serious about my passion ie, Counter Strike

Legends :

RoCE : Return on Capital Employed (Effective)

PAT(Avg.) : Net Profit after tax ( Average )

CMP : Current Market Price

MoS : Margin of Safety

Market Cap. : Market Capitalization (Total)


I am a registered Research Analyst with SEBI (INH100004951). My writings n research here at are in accordance with SECURITIES AND EXCHANGE BOARD OF INDIA (RESEARCH ANALYSTS) REGULATIONS, 2014.