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Hindustan Construction Company
Hindustan Construction Company (HCC) on Friday reported 22.12 per cent rise in consolidated net profit at Rs 246.2 crore for the quarter ended March 2024. The company had clocked a profit of Rs 201.6 crore in the year-ago period, it said in a BSE filing. Total income during the quarter under review stood at Rs 1,813.05 crore compared to Rs 2,437.23 crore a year ago. Total expenses declined to Rs 2,073.33 crore from 2,398.69 crore earlier. For the entire 2023-24, it logged a consolidated net profit of Rs 529.42 crore. It had incurred a net loss of Rs 52.51 crore in FY23. "We will settle for nothing less than rapid growth of our order backlog in FY25, with no compromise on quality and profitability," HCC vice chairman Arjun Dhawan said. The company in a statement said it completed the Nikachhu Hydropower project in Bhutan in March 2024. In Mumbai, the company installed two arch bridges, connecting the Coastal Road to Bandra Worli Sea link. In NH34 package 3 in West Bengal, all wor
Hindustan Construction Company Limited (HCC) on Friday said its rights issue has been oversubscribed by 250 per cent, with the company receiving applications worth Rs 877 crore against an issue size of Rs 350 crore. The company, in a statement, said it has retained an amount of Rs 350 crore, corresponding to 100 per cent of the rights issue size, with the balance being refunded to investors. Equity shares have been allotted to the applicants as per the basis of allotment finalised with the designated stock exchange BSE Limited, it added. HCC Vice Chairman Arjun Dhawan said, "We are grateful to our shareholders for their overwhelming support as we chart a new chapter in HCC's growth". Through the rights issue, the company said the number of shares in HCC has increased by 16,66,66,666 - from 1,51,30,28,244 to 1,67,96,94,910, and the paid-up share capital has increased by Rs 17 crore - from Rs 151 crore to Rs 168 crore. The lead manager for the rights issue was IDBI Capital Markets &
Hindustan Construction Company (HCC) on Sunday said it has divested its entire equity shareholding in HREL Real Estate Ltd, a wholly owned subsidiary of the company. Accordingly, HREL and its following subsidiaries -- Nashik Township Developers Ltd, Powai Real Estate Developers Ltd, HCC Aviation Ltd, HCC Realty Ltd have ceased to be subsidiaries of the company, HCC said in a regulatory filing. "Hindustan Construction Company Ltd has divested its entire equity shareholding in HREL Real Estate Ltd, a wholly owned subsidiary of the company vide share purchase agreement executed on March 31, 2024," it said. The consideration received from sale stood at Rs 10 lakh. HCC had reported a consolidated profit of Rs 233.22 crore in the December quarter.
Steiner AG, the wholly-owned subsidiary of Hindustan Construction Company (HCC), on Friday said it has concluded the sale of its construction business subsidiary, Steiner Construction SA, to Demathieu Bard for approximately CHF 98 million (Rs 928 crore). Demathieu Bard is an international construction group headquartered in France. HCC in a statement said for 2022-23, Steiner Construction posted a turnover of CHF 347 million (Rs 3,076 crore) and was operating 30 projects. Demathieu Bard Group Managing Director Stphane Monceaux said the acquisition of Steiner Construction SA is a major milestone for the Demathieu Bard Group. "We are strengthening our international presence and consolidating our position as a benchmark company in the construction sector. Demathieu Bard makes its biggest acquisition ever with the integration of Steiner Construction SA," he said. Zurich-headquartered Steiner AG, which was founded in 1915, is a real estate service provider with a focus on project ...
Hindustan Construction Company (HCC) on Thursday reported a multifold rise in consolidated net profit at Rs 190.66 crore for the quarter ended March 2023. The company had clocked a profit of Rs 30.88 crore in the year-ago period, it said in a BSE filing. Its total income during the quarter under review stood at Rs 3,107.58 crore compared to Rs 2,946.16 crore a year ago. The total expenses increased to Rs 3,077.51 crore from 2,884.35 crore earlier. For the entire 2022-23, the company recorded a consolidated net loss of Rs 26.59 crore. It had posted a net profit of Rs 571.74 crore on a consolidated basis in FY22. HCC Vice Chairman Arjun Dhawan said the completion of the company's debt carve-out process and profitable divestment of concession assets further strengthened its balance sheet and plans for future growth. The company, in a statement, said HCC through a JV secured a contract worth Rs 3,681 crore for the construction of the Bandra Kurla Complex Station for the high-speed bu
Hindustan Construction Company Ltd (HCC) in a joint venture with Megha Engineering & Infrastructures Ltd (MEIL) has bagged a Rs 3,681 crore project for construction of a bullet train station, a statement said on Tuesday. The contract was awarded by the National High-Speed Rail Corporation Ltd (NHSRCL) for the construction of the Bandra Kurla Complex Station of the 508.17 km-long Mumbai-Ahmedabad high-speed rail. The Bandra Kurla Complex bullet train station will have six platforms, and each platform is approximately 414 metres, sufficient to accommodate a 16-coach bullet train. The station will have connectivity with the metro and road transport, HCC said in a statement. This station is the only underground station on the Mumbai-Ahmedabad high-speed rail corridor, and it is planned at a depth of about 24 metres below the ground level. The station will have a total of three floors. On Tuesday, shares of the company settled 4.33 per higher at Rs 14.95 apiece on the BSE.
Hindustan Construction Company (HCC) on Thursday reported a 129 per cent rise in consolidated net profit at Rs 319.03 crore for the quarter ended September 30, 2022, on the back of improved operational efficiencies. The company had posted a consolidated net profit of Rs 139.23 crore in the year-ago period, HCC said in a filing to BSE. However, the consolidated income of company during July-September period dropped to Rs 2,515.15 crore, from Rs 2,834.84 crore in the year-ago period, the filing said. The consolidated expenses of HCC declined to Rs 2,423.88 crore, as against Rs 2,736.23 crore earlier. HCC's strong operational performance and earnings during the quarter were achieved due to improved operational efficiencies through a leaner and efficient organisational structure, the company said in a statement. HCC successfully concluded its debt resolution plan during the quarter, duly supported by 23 banks and financial institutions. The company said that it has transferred Rs 2,8
Changed bidding and contractual guidelines for build-operate-transfer (BOT) road contracts are being finalised but big construction companies might, it is believed by observers, not be in a hurry to return to this segment.As for smaller players, they are occupied with hybrid annuity projects. The decisive factors in attracting private investment will be the stretches offered for bidding and projected traffic density.The new draft norms have been brought in to encourage private participation in BOT. Large highway developers (L&T, Hindustan Construction) had started avoiding these contracts, over delayed return on investment, rigid concessionaire agreements and legal disputes with governments.According to the draft Model Concessionaire Agreement, the National Highways Authority of India (NHAI) and the concessionaire would agree that in a financial default, the lender or banks can invite, negotiate and procure offers, either by private negotiations or public auction or tenders, for ..