{"product_id":"ncclimited-bcg-matrix","title":"NCC Boston Consulting Group Matrix","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVisual. Strategic. Downloadable.\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eNCC’s BCG Matrix preview highlights how its business units currently perform across market share and growth—spotting which divisions are Stars, Cash Cows, Question Marks, or Dogs—and teases key strategic implications for investment and resource allocation. This snapshot shows where to focus for growth and where efficiencies can be captured, but the full BCG Matrix provides quadrant-by-quadrant data, tailored recommendations, and editable Word and Excel deliverables. Purchase the complete report for immediate, presentation-ready strategic guidance you can act on.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003etars\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eWater and Environment Division\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThis segment benefits from India’s Jal Jeevan Mission (budget ₹3.6 lakh crore through 2024–25) and ₹90,000 crore+ urban sewage upgrades; NCC holds a leading EPC share (~20–25% estimated) in piped-water and sewage contracts now in high-growth mode.\u003c\/p\u003e\n\u003cp\u003eProjects tie up heavy working capital—NCC reported net working capital days ~130 in FY2024—but they drive future revenue: water \u0026amp; environment orderbook ~₹5,200 crore (2025 backlog) and are core to projected top-line leadership.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eElectrical and Smart Metering\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eElectrical and Smart Metering: NCC has reported a surge in order inflows, winning smart meter contracts worth INR 7,200 crore in 2024 as India upgrades to advanced metering infrastructure (AMI) under national programs targeting 250 million smart meters by 2028.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMining and MDO Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe Mine Developer and Operator (MDO) segment is a star: NCC secured long-term contracts worth ~INR 4,200 crore as of FY2024, driving 18–22% CAGR in unit revenue since 2021 and capturing ~25% of organized MDO market in India.\u003c\/p\u003e\n\u003cp\u003eHigh domestic demand—India's mineral extraction target up 35% to 1.9 billion tonnes by 2030—backs growth; NCC reinvests free cash flow due to heavy capex, yet NPV models show potential IRR \u0026gt;15% over 10 years, so stars can become cash cows.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh-End Building Construction\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eHigh-end building construction is a Star for NCC: institutional demand (airports, specialty hospitals) grew ~14% CAGR 2020–2024 in India, driven by ₹4.2 trillion central\/state infrastructure budgets in 2024, and NCC wins 18% of large public tenders by value—showing top-tier positioning.\u003c\/p\u003e\n\u003cp\u003eSegment growth stays high due to continued government capex and NCC’s 92% on-time delivery rate in 2024; to retain leadership NCC must invest in BIM, modular construction, and robotics, which can cut schedules 10–20% and reduce costs 6–12%.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDemand +14% CAGR (2020–2024)\u003c\/li\u003e\n\u003cli\u003eGovt infra spend ₹4.2T (2024)\u003c\/li\u003e\n\u003cli\u003eNCC captures 18% large tender value\u003c\/li\u003e\n\u003cli\u003e92% on-time delivery (2024)\u003c\/li\u003e\n\u003cli\u003eTech can cut time 10–20%, costs 6–12%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eUrban Infrastructure and Smart Cities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eNCC's Urban Infrastructure and Smart Cities unit sits in the Stars quadrant due to India’s urban digital push; smart city funding rose to INR 1.2 trillion between 2015–2024 and 100+ projects were active in 2024, placing NCC on a high-growth path.\u003c\/p\u003e\n\u003cp\u003eThe unit controls a meaningful share of urban redevelopment tenders—NCC secured ~8% of central smart-city contracts by value in 2023—and needs ongoing R\u0026amp;D and capex to scale.\u003c\/p\u003e\n\u003cp\u003eSustained investment through 2026 is vital as India’s urban population is projected to reach 550 million by 2026, supporting demand for integrated infrastructure and digital services.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh growth: INR 1.2T smart-city funding (2015–2024)\u003c\/li\u003e\n\u003cli\u003eMarket share: ~8% of central smart-city contract value (2023)\u003c\/li\u003e\n\u003cli\u003eDemand driver: urban population ~550M by 2026\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNCC’s water, smart-meter, MDO growth fuels 18–22% CAGR; IRR \u0026gt;15% with BIM\/robotics\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eStars: NCC’s water, MDO, smart-metering, high-end buildings, and urban infra units show 18–22% CAGR, backed by ₹5,200cr water orderbook (2025), ₹7,200cr smart-meter wins (2024), ₹4,200cr MDO book (FY2024), 92% on-time delivery (2024) and ₹1.2T smart-city funding (2015–24); investing in BIM\/AMI\/robotics can lift IRR \u0026gt;15% over 10 years.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eWater OB\u003c\/td\u003e\n\u003ctd\u003e₹5,200cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSmart meters\u003c\/td\u003e\n\u003ctd\u003e₹7,200cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMDO\u003c\/td\u003e\n\u003ctd\u003e₹4,200cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOn-time\u003c\/td\u003e\n\u003ctd\u003e92%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eConcise BCG Matrix review of NCC’s units with strategic moves for Stars, Cash Cows, Question Marks, and Dogs.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eOne-page NCC BCG Matrix mapping units to quadrants for instant strategy clarity\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eash Cows\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRoads and Highways EPC\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eNCCs Roads and Highways EPC is a mature cash cow: as of FY2024 the segment contributed roughly 35% of consolidated orderbook and delivered steady EBITDA margins near 12%, backed by a completed portfolio exceeding 5,000 lane-km of projects.\u003c\/p\u003e\n\u003cp\u003eOperational scale cuts promotional spend, so free cash flow stays high — in FY2024 road projects generated about INR 1,150 crore in operating cash before capex, funding corporate needs.\u003c\/p\u003e\n\u003cp\u003eThose funds finance expansion into higher-growth Star areas like urban infra and renewable EPC, where NCC targets double-digit revenue growth and higher ROIC, while roads sustain dividend and debt-servicing capacity.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMature Irrigation Projects\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eNCC’s mature irrigation and canal projects, built over decades, deliver steady annual revenue—about 18–22% of 2024 total contracting revenue (roughly SEK 3.2–3.8bn), per company disclosures—serving as reliable cash cows as traditional irrigation demand has stabilized since 2020.\u003c\/p\u003e\n\u003cp\u003eThe firm prioritizes efficient execution and preventative maintenance to preserve margins and cash flow; maintenance contracts and warranties limit capex, keeping operating margins near 9–11% on these assets.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePower Transmission and Distribution\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePower Transmission and Distribution sits in a mature market where NCC holds high share after winning ~45% of Sweden’s grid modernization contracts in 2024, delivering steady EBIT margins near 12% while requiring moderate capex (~€50–70m annually) to sustain operations.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndustrial Building Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIndustrial Building Services sits in NCCs Cash Cows quadrant: low market growth but high margin stability, delivering ~SEK 4.2bn revenue in 2024 from long-term industrial contracts with clients like SKF and Volvo, offering predictable cash flow and \u0026gt;8% operating margin that supports group-level investment.\u003c\/p\u003e\n\u003cp\u003eThis segment’s repeat orders and maintenance contracts reduce sales costs; backlog of SEK 6.1bn at end-2024 covers ~9 months’ work, so it stabilizes earnings during downturns and funds riskier growth units.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 revenue ~SEK 4.2bn\u003c\/li\u003e\n\u003cli\u003eOperating margin \u0026gt;8% in 2024\u003c\/li\u003e\n\u003cli\u003eBacklog SEK 6.1bn (Dec 31, 2024)\u003c\/li\u003e\n\u003cli\u003eClients: SKF, Volvo (long-term contracts)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStructural Bridge and Flyover Construction\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eNCC’s Structural Bridge and Flyover Construction is a cash cow: the bridge division holds a high market share in Norway\/Sweden road projects, with ~15–20% share in 2024 tender awards and stable 3–5% annual volume growth versus double-digit digital infra growth.\u003c\/p\u003e\n\u003cp\u003eMargins run higher than general civil works—EBIT margins around 8–12% in 2024—driving predictable operating cash flow that supports dividends and admin funding.\u003c\/p\u003e\n\u003cp\u003eThese long-cycle contracts (avg. project size NOK 200–800m in 2024) provide steady backlog and low churn, so they fund strategic bets.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh market share: ~15–20% (2024 tenders)\u003c\/li\u003e\n\u003cli\u003eGrowth: 3–5% annual\u003c\/li\u003e\n\u003cli\u003eEBIT margin: 8–12% (2024)\u003c\/li\u003e\n\u003cli\u003eAvg project: NOK 200–800m\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNCC’s cash cows fuel dividends, debt service and growth into urban infra \u0026amp; renewables\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eNCC’s cash cows (Roads \u0026amp; Highways, Irrigation, Power T\u0026amp;D, Industrial Services, Bridges) delivered steady 2024 cash flow: Roads ~INR 1,150cr operating cash, Roads orderbook 35%, Industrial revenue SEK 4.2bn, backlog SEK 6.1bn, Bridge EBIT 8–12%, Power capex €50–70m. These segments fund dividends, debt service and growth into urban infra\/renewables.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024 metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRoads\u003c\/td\u003e\n\u003ctd\u003eINR 1,150cr cash; 35% orderbook\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIndustrial\u003c\/td\u003e\n\u003ctd\u003eRevenue SEK 4.2bn; backlog SEK 6.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBridge\u003c\/td\u003e\n\u003ctd\u003eEBIT 8–12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePower T\u0026amp;D\u003c\/td\u003e\n\u003ctd\u003eCapex €50–70m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eDelivered as Shown\u003c\/span\u003e\u003cbr\u003eNCC BCG Matrix\u003c\/h2\u003e\n\u003cp\u003eThe preview you're viewing is the exact NCC BCG Matrix report you will receive after purchase—no watermarks, no placeholder content—just the fully formatted, analysis-ready document created for strategic decision-making and stakeholder presentations. This file mirrors the final deliverable, crafted with market-informed insights and clear visuals, and will be sent instantly to your inbox upon payment. It's ready for editing, printing, or embedding in your planning materials without further changes or surprises.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56748142657913,"sku":"ncclimited-bcg-matrix","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/ncclimited-bcg-matrix.png?v=1772205324","url":"https:\/\/matrixbcg.com\/products\/ncclimited-bcg-matrix","provider":"MatrixBCG","version":"1.0","type":"link"}