HCC gets projects worth Rs 2,860 cr

Hindustan Construction Company (HCC) has bagged three road projects worth Rs 2,860 cr in West Bengal from the National Highways Authority of India (NHAI) for four laning of three stretches on NH-34 on build-operate-transfer basis. The special purpose companies implementing these three projects under HCC Infrastructure Ltd, a unit of HCC, would receive a capital grant of Rs 1,033.47 cr during the construction period. 
 
With these new contracts, the firm’s order book stands at around Rs16,000 crore, which is about four times projected revenues for the fiscal. Until the first half of this fiscal, HCC’s order inflows were a matter of concern, as they dropped by around 60% compared with a year ago, while its peers such as Nagarjuna Construction Ltd and IVRCL Infrastructure and Projects Ltd showed a growth.
 
While the return of big orders is a positive development, much depends on timely execution. HCC’s losses from the Bandra-Worli Sealink project have dragged down profits earlier.