HCC hope to raise Rs 2,000 crore
The Hindustan Construction Company (HCC) is wishing to get around Rs 2,000 crore by raising the amount in the coming 2 to 3 years as stated by CFO Praveen Sood. According to him the company is planning to raise this amount by Lavasa IPO, asset monetization and the QIP. The Mumbai based company has reported a 41.1 percent year on year growth in the net profit at Rs 27.1 crore in the quarter that ended in June 2014 driven by the strong operational performance.
When asked about their plans for margin expansion they stated that close to around Rs 8,000 crore worth of claims are under the litigation out of which a large part is under the arbitration. So their focus would be on and it is very difficult to put up a timeline on this case because they get argued very rigorously with the arbitrators at other matters. So they have a pretty good line up for this and they hope that these numbers will continue to appear in every quarter as going forward. However they stated that it is difficult for them to provide the numbers at this stage.
Source: Mint
