Infrastructure major Hindustan Construction Company (HCC) today said it aims to maintain a growth rate of 10% this year, despite slowdown in the infrastructure space.
"We hope to maintain a growth rate of around 10% this year, but the biggest challenge we will face is high interest [cost]," HCC Chairman and Managing Director Ajit Gulabchand told shareholders at the company's Annual General Meeting held here.
The infrastructure space has seen a slowdown this year due to lack of decision-making and environmental hurdles, he said, adding that almost Rs 1,000 crore has been locked in claims.
The company's order back-log as on March 2011, stood at Rs 18,127 crore. It's Profit After Tax (including profit from JVs and other income) declined by 12.8% to Rs 71 crore in FY11, from Rs 81.4 crore in FY10.
"We will see infrastructure efforts being kick started yet again, as we will see environmental protection walking in tandem with development," he said.
"I am sure that sooner than later, things will improve," he added.