Hindustan Construction Company (HCC)
That first movers don’t always have an advantage is something Lavasa Corp has painfully discovered. The company, a subsidiary of Ajit Gulabchand’s Hindustan Construction Company, had announced plans to build a smart city, arguably India’s first, over a decade ago. Lavasa, about 60 km from Pune, was planned as an integrated hill city, where residents [...] Continue Reading »
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 [...] Continue Reading »
The NCP chief Sharad Pawar seems to be extremely concerned about the growth of Maharashtra and mentioned that he supports the concept behind controversial Lavasa lake city project. He also mentioned that there are 26 unpopulated sites near water bodies in Maharashtra that could be developed on the lines of English tourist towns. The project of [...] Continue Reading »
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 [...] Continue Reading »
Banks have started insisting on investigative audits for engineering, procurement and construction (EPC) units who are looking to recast their loans. A forensic team will evaluate such companies and reduce the chances of any ‘package failure’ in corporate debt restructuring (CDR). The bankers will look in a detailed manner in case of all the related [...] Continue Reading »
