HINDUSTAN CONSTRUCTION COMPANY LIMITED This is the seventh consecutive quarter when the company has shown positive results, validating that its strategy of efficient project management, cost control and focus on claim management, is yielding consistent results. This quarter also witnessed additional arbitration awards in favour, and being realised by HCC. The total arbitration awards received by the company is Rs 1,994 crore, (since going to CDR) from various government agencies with collection of around Rs 370 crore, as on date. In addition to this, currently we have cases worth Rs 1372 crore in arbitration.
Financial highlights - HCC unaudited results for the quarter ended December 31, 2014
- Turnover at Rs 1,123.6 crore against Rs 870.4 crore on YOY basis
- Operating Profit at Rs 205.7 crore compared to Rs 175.3 crore on YOY basis
- EBIDTA margins at 18.8%
- Net Profit of Rs 27.1 crore compared to Rs 5.4 crore on YOY basis
- Current order book at Rs 14,307 crore, excluding L1 contracts worth Rs 1,176 crore
- Total arbitration awarded = Rs 1,994 crore; Payment received = Rs 370 crore
Commenting on the company's performance, Praveen Sood, Group CFO said, "For the past 2 years, the company has been focusing on two revenue streams - project execution in most efficient cost effective way, and time efficient management of claim process for realising arbitration awards in its favour. Q3 has been the most successful period for both our approaches. We are looking forward to quick release of payments against claims and arbitrations from various government agencies to
reduce our debt burden. The economic optimism and positive investment climate is expected to translate into more orders in the coming quarters and HCC is fully geared to secure these additional projects and further improve its financial parameters in the coming quarters"
2014. In addition to this, the company has secured orders for more than CHF 339 million (Rs. 2,146.2 crore), where the contracts are yet to be signed.
Lavasa Corporation Limited (LCL): Construction activity in Lavasa city is progressing with over
2,500 workers on ground. The first town of Dasve has additional 8 lakh sq ft of residential, commercial and social infrastructure under development. In the current quarter 4 new residential buildings offering
200 apartments were launched. In the second town of Mugaon, one million square feet, comprising 29 residential buildings is under development. The customers have booked around 300 apartments in
last 9 months. Lavasa continues to attract significant number of tourists, with close to 7.5 lakh visiting the city in the last 9 months. Lavasa city was awarded as the "Best Eco-Tourism Destination", the "Best Convention Centre Western India" and the "Best Tourist Attraction" at the Today's Traveller Awards. Fun Square Miniplex has commenced operations. In December, Lavasa City hosted the
'World Fest' event featuring performers from 10 nations displaying their art, culture, food and
handicrafts.
Lavasa Corporation Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a draft red herring prospectus, ("DRHP") with the Securities and Exchange Board of India, ("SEBI"). The DRHP is available on the SEBI website at www.sebi.gov.inas well as the respective websites of the BRLMs at www.axiscapital.co.in, http://investmentbank.kotak.com, www.icicisecurities.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section "Risk Factors" on page 19 of the DRHP.
About HCC:
HCC is a business group of global scale developing and building responsible infrastructure through next practices. With an engineering heritage of nearly 100 years, HCC has executed a majority of India's landmark infrastructure projects, having constructed 25% of India's Hydel Power generation and over 50% of India's Nuclear Power generation capacities, over 3,500 lane km of Expressways and Highways, more than 280 km of
complex Tunneling and over 350 Bridges. HCC's landmark projects include the Bandra Worli Sea Link, Mumbai −
India's first and longest open sea cable-stayed bridge; the Kolkata Metro, Farakka Barrage and India's largest nuclear power plant at Kudankulam - Tamil Nadu, to name a few. Today, HCC Ltd. serves the infrastructure
sectors of Transportation, Power and Water. HCC is also developing Lavasa City, a planned hill city and one of
India's largest urban development and management initiatives. The HCC Group, with a group turnover of Rs
9,668 crore, comprises of HCC Ltd, HCC Infrastructure Co. Ltd, HCC Real Estate Ltd, Lavasa Corporation Ltd and Steiner AG in Switzerland.
For further information:Sandeep Sawant
Hindustan Construction Company Ltd
+91 22 2577 5959
Mobile: +91 98339 92874
Email: sandeep.sawant@hccindia.com
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