Hindustan Construction Company secures a total of 500 crores while setting matters
A total of Rupees 500 crore has been preserved by the Hindustan Construction Company so that they can settle all matters with their colleagues. This includes all governmental authorities. Last year, Ajit Gulabchand, who happens to be the chairman of Hindustan Construction Company stated that large chunks of money hasn’t been paid by this company who is still in debt. Some of it was used for the construction of several highway projects and the others were left for the hydroelectric sector.
In the last annual report, the company stated that although a couple of efforts have been made in order to take care of the issue on infrastructure, there aren’t enough expectations. Within the end of the first month of 2014, the Cabinet Committee on investment along with the Project monitoring group has made plans to take care of around 296 projects. All of this costs quite a lot of money.
In the year 2013-14, Hindustan Construction Company was successful enough to make some reduction in the turnover of inventory to 292 days. Earlier it used to be 349 in the year of 2012-2013.
Source – Shubhra Tandon
Hindustan Construction Company, Hindustan Construction Company (HCC), the Hindustan Construction Company Ltd
