### **Overview** Hindustan Construction Company Ltd. (HCC) is one of India’s largest and oldest infrastructure development and engineering, procurement, and construction (EPC) contractors, with a legacy spanning nearly a century since its founding in **1926 by Seth Walchand Hirachand**. Headquartered in Mumbai, HCC has established itself as a key player in building nationally significant, complex civil infrastructure projects across transportation, power, water, and urban infrastructure sectors. The company is currently led by **Mr. Ajit Gulabchand**, with **Mr. Arjun Dhawan** serving as Vice Chairman and Whole-time Director. HCC operates as part of the broader **HCC Group**, which includes **HCC Ltd., HCC Infrastructure Company Limited (HICL), and Steiner AG (Switzerland)**. The group reported a consolidated turnover of over **₹10,670 crore** and maintains a strong global footprint. --- ### **Core Business & Operations** HCC's primary business revolves around **EPC project execution** in the following domains: 1. **Transportation**: Roads, expressways, high-speed rail, metros, bridges, and tunnels. 2. **Power**: Hydroelectric (including Pumped Storage Hydro), nuclear, and thermal power. 3. **Water & Irrigation**: Major irrigation projects, river interlinking, and urban water supply. 4. **Industrial & Urban Infrastructure**: Specialized industrial plants, marine works, and smart cities. As of 2025, over **90% of HCC’s projects are in India**, with growing international interest in **Bhutan, Nepal, UAE, Israel, and Saudi Arabia**, particularly in hydropower and railway infrastructure. --- ### **Key Highlights (2025)** #### **Recent Awards & Contracts** - **October 2025**: HCC secured a **₹204 crore contract** from **Hindalco Industries** to fabricate and erect **pot shells and superstructures** for an **aluminum smelter expansion project in Odisha**, supporting Hindalco’s goal to increase aluminum smelting capacity by **200,000 tonnes per annum**. This reinforces HCC’s growing capability in **private-sector industrial infrastructure** and on-site **custom fabrication solutions**. #### **Strategic Partnerships** - **September 2025**: HCC signed a **strategic MoU with Konkan Railway Corporation Limited (KRCL)** to jointly pursue **large-scale railway and multimodal transport projects** in India and abroad. The alliance combines: - HCC’s **civil construction, tunneling, and EPC execution expertise**. - KRCL’s **railway systems, electrification, signaling, and operational experience**. The partnership targets **metro systems, NATM tunneling, EPC rail contracts, PPP projects, and design-build models**, with scope for **joint ventures or consortia** depending on project requirements. #### **Order Book & Pipeline** HCC continues to demonstrate strong growth momentum in its bidding pipeline and order visibility: - **Order book strategy**: Focuses on **high-value, complex projects in less competitive geographies**. - **FY2025 new awards**: ₹5,692.6 crore (HCC share: ₹3,472 crore). - Current **lowest bidder status**: ₹3,513 crore worth of projects. - **Bids under evaluation**: ₹22,760 crore. - **Future pipeline**: Over **₹70,000 crore** across railways, roads, metros, and urban infrastructure. - **Key geographies under focus**: Jammu & Kashmir, Maharashtra (especially Mumbai), Bhutan, and the MENA region. #### **Pumped Storage Hydro (PSH) Expansion** - HCC has won a **PSH project in Maharashtra from Tata Power**, marking its **strategic entry into private-sector-led hydro projects**. - Leverages its **proven hydro and tunneling experience** from over **26% of India’s installed hydro capacity** and **six ongoing hydro projects**, including the 1,000 MW **Tehri Pumped Storage Plant** in Uttarakhand. --- ### **Financial & Strategic Strengthening (As of July 2025)** - Raised **₹950 crore** through institutional equity infusions. - Settled long-pending receivables and **prepaid debt** using arbitration proceeds. - Achieved an **investment-grade credit rating**, enhancing capital access and reducing cost of borrowing. - Accelerating **deleveraging**, unlocking **disputed receivables** via out-of-court settlements, and monetizing **non-core assets**. - Successfully raised **₹350 crore via rights issue in April 2024**, reflecting strong investor confidence. --- ### **Subsidiaries & Group Structure** HCC owns 100% of several key subsidiaries: - **HCC Infrastructure Company Ltd. (HICL)**: Focuses on **PPP projects** (BOT, BOOT, HAM), manages toll roads, and is **debt-free** with stable income from highway assets. - **HCC Operation and Maintenance Limited**: Manages road upkeep. - **HCC Contract Solutions Limited**: Provides E&C services. - **Highbar Technologies Limited**: Offers **IT consulting** services. - **Panchkutir Developers, HRL (Thane) Real Estate Limited, Maan Township Developers**: Engaged in **real estate development**. The group also holds stakes in joint ventures and associate companies, including: - **Hegias AG**, **Evostate AG**, **MCR Managing Corp.**, and **Werkarena Basel AG (50%)** in Switzerland. - **Highbar Technocrat Limited (49%)** in India. --- ### **International Presence & Subsidiary: Steiner AG** - **Steiner AG**, based in **Zurich, Switzerland**, is a wholly-owned HCC subsidiary and a **leading Swiss real estate developer**. - As of 2025, Steiner AG has transitioned into a **pure-play real estate development company**, exiting its construction arm post-sale to **Demathieu Bard**. - Operates on an **asset-light model** with a focus on **brownfield redevelopment, digitalization, and financial structuring**. - Key projects: **Glasi-quarter (Bülach)** and **Gupfengarten (Niederweningen)**. - Utilizes **Steiner Digital** – a proprietary digital platform for managing the property lifecycle from acquisition to management. --- ### **Project Milestones & National Contributions** HCC has played a pivotal role in shaping India’s infrastructure landscape: - **Hydropower**: Built **26% of India’s installed hydro capacity**. - **Nuclear Power**: Constructed **60% of India’s nuclear power projects**. - **Highways & Expressways**: Over **4,036 lane-km** delivered. - **Tunnels**: More than **402 km** (up from ~360 km in 2020–23). - **Bridges**: Over **403** completed. - **Landmark projects**: Delhi Metro, Bogibeel Bridge, Kishanganga Hydro, Mumbai Dry Dock, Sawra Kuddu, Kaleshwaram, and Tunnel-15A. HCC has also secured a major **₹3,681 crore contract** (joint venture) for the **Bandra-Kurla Complex (BKC) Station** on the **Mumbai-Ahmedabad High-Speed Rail**, marking its **entry into high-speed rail construction**. --- ### **Governance & Collaborations** - HCC actively participates in **joint ventures** with leading firms such as **L&T, Samsung, Skanska, Itochu, Alpine, and GS E&C**, leveraging partnerships for complex, capital-intensive projects. - The **MoU with KRCL** is expected to drive competitive advantage in integrated transport solutions. ---