HCC Announces Q3
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Home / India News / 2007 / January / January 19, 2007
HCC Announces Q3 Financial Results

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HCC Announces Q3 Financial Results

Mumbai, Maharashtra, India

The Board of Directors of Hindustan Construction Company Ltd (HCC) took on record the company's results for the three months period ended December 31, 2006.

Key Financial Highlights:

-- Turnover stood at Rs 540.65 crores compared to Rs 461.87 crores for the corresponding period last year, registering a growth of 17%

-- EBDITA grew to Rs 58.25 crores over Rs. 48.58 crores

-- Profit Before Tax grew to Rs.28.47 crores over Rs.23.90 crores

-- Profit After Tax was Rs 21.99 crores over Rs 22.92 crores

-- Total balance value of work on hand is Rs.9604 crore

The company improved its operating margins enhancing to 10.87% in the quarter ended December 2006 compared to 10.66% in the corresponding period last year. The company has been able to mobilize the projects in record time despite challenging heavy snow fall conditions in Jammu & Kashmir and other Himalayan regions. Currently a total of 35 projects are under execution.

The company has reported 17% growth in Turnover at Rs.540.65 crores and improved Profit Before Tax at Rs.28.46 crores for the quarter ended December 31, 2006.

The total balance value of work on hand as on 31st December, 2006 is Rs.9604 crore (Rs.7478 crore as on 31st December, 2005) including Rs.1940 crore being the Company's share of an order secured by a Joint Venture which is subject to the decision of a High Court.

HCC entered the league of Developers with its first major order under BoT Annuity received from National Highway Authority of India (NHAI). The Rs 280 crores highway development contract of NHAI on NH-7 in Andhra Pradesh has a concession period of 20 years with semi annual annuity of Rs.23.8 crores.

HCC Real Estate, the 100% subsidiary of HCC has commenced work on the largest IT Park in Mumbai at Vikroli, which is expected to be completed by December 2008. The company has contracted further 1300 acres of land taking the total land bank to 14300 acres and plans to develop 189 million sq. ft.

Lavasa, the hill township near Pune in which HCC Real Estate holds 60% stake has signed MoUs with Accor and Starwood for building hotels and resorts taking the total number of hotels in progress to 5 inclusive of one from ITC Fortune Hotel.

The company reported a Turnover of Rs.1546.93 crores for the 9 months ended December 31, 2006 compared to Rs 1253.05 crores in the corresponding period last year, an increase of 23% with operating profits of Rs.143.03 crores against Rs.115.36 crores.

About HCC

HCC is a leading construction and infrastructure development company with a rich heritage of experience. The company specializes in pioneering large-scale infrastructure development and developing new age construction technologies. The company has managed and executed several technically complex and high value projects across segments like transportation, power generation infrastructure, marine projects, oil & gas pipeline constructions, irrigation & water supply, utilities and urban infrastructure. For more information, please visit www.hccindia.co.in

Sandeep Sawant, Hindustan Construction Company Ltd, +91 (022) 2577 5959/ +91 98339 92874 sandeep.sawant@hccindia.co.in

Abhinav K. Srivastava, Comma Consulting, +91 (022) 40027111/2/ +91 98923 23750 abhinav.srivastava@comma.in

Source: Hindustan Construction Co. Ltd (HCC) (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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