HCC (Hindustan Construction Company) has registered growth in turnover and operating profit. The turnover grew by 22.5% to Rs 895 crores as against Rs 731 crores in the corresponding period last year. The operating margin (EBDITA) grew by 16% to Rs 91 crores as against Rs 79 crores in the corresponding period previous year.

The company registered Profit after tax at Rs 31 crores as against Rs 34 crores in the previous year same quarter. During the quarter, a provision of Rs 50.6 crores on account of foreign exchange losses on foreign currency loans including FCCB was made. The Profit Before Tax stood at 39 crores as against 56 crores in the previous year same quarter owing to decline in other income (Rs 13 crores this quarter as against Rs 32 crores last year).

The company also sold its Vikhroli (East) land and booked capital gains of Rs 61.90 crores in other income during the quarter.

The company has a well diversified order backlog of Rs 10,196 crores. It is currently executing 37 projects including the two projects it recently bagged in this quarter. HCC is the lowest bidder in four projects worth Rs 4924 crores (HCC share) and is awaiting award of the contracts. Further, it has several tenders under submission worth Rs 11,174 crores.

HCC Infrastructure Ltd, the 100 per cent subsidiary of HCC, has bagged its first large BOT contract worth Rs.550 crores for Badarpur elevated highway connecting Delhi and Faridabad this quarter. The second major order received by HCC was Rs.303 crore Teesta VI hydel project of Lanco Infra.

Lavasa, the new hill station being developed by HCC Real Estate Ltd, the 100 per cent subsidiary of HCC will commence its revenue recognition from the current year. During the quarter, Axis Bank has invested Rs 250 crores in Lavasa in the form of Convertible Preference Shares and Convertible Debentures. Based on this investment, the equity valuation of Lavasa has worked out to Rs 10,000 crore.

The second successful sales launch of units at Lavasa in the month of June 2008 received a very favourable response. The 160 apartments opened for sales on June 27th were sold in a week’s time. The company has already realized pre-sales of Rs 550 crores.

Construction is in full swing for the 1.9 million sq ft ‘247 Park’ being developed by HCC Real Estate Ltd in Vikroli (West).

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Voltas Q1 Sales up by 22%
• Patel Engg cons net profit up 29.39% at Rs 34.99cr
• Adhunik Metaliks crosses Rs 1000cr turnover in 07-08
• Voltas Q2 sales up by 11%, net profit up by 50%
• Titan Industries turnover crosses Rs 3000cr mark