Hindustan Construction Company鈥檚 net profit at Rs 139 cr in Q2 FY22

12 Nov 2021 CW Team

Hindustan Construction Company (HCC) recorded a net profit of Rs 139.23 crore in Q2 FY22, compared to a net consolidated loss of Rs 476.61 crore in Q1 FY22.

The net consolidated total income of the company stood at Rs 2,848.20 crore during Q2 FY22, with a 56% growth from Rs 1,831.10 crore during Q2 FY21.

The company's total order book stood at Rs 16,632 crore by the end of September 2021.

The company said that it accumulated losses of Rs 3,912.64 crore on 30 September 2021, which resulted in the complete erosion of its net worth. The holding company continues to default on the payment of the lenders, along with costs overdue to operational creditors.

It added that the company's debt resolution plan continues to have support from lenders with continual and ongoing receipt of lender board approval. Delay in implementing the resolution plan resulted in the accrual of higher interest costs during FY22.

HCC is focusing on securing its new orders for business growth to capitalise on the opportunities in the infrastructure sector and expects order acquisition to expand after the resolution plan.

Also read: Sobha Limited reports 198% jump in net profit at Rs 48.30 cr in Q2

Real Estate

21 May 2025

Kolkata鈥檚 luxury housing market sees price growth amid mixed trends

A new study by Nklusive reveals that Kolkata鈥檚 luxury residential market (Rs 5鈥�10 crore) recorded a 33 per cent year-on-year rise in supply and a 52 per cent increase in sales in calendar year 2024 (CY24). South Kolkata led with 78 per cent of the segment鈥檚 supply. The average price rose by 6 per cent鈥攆rom Rs 17,519 to Rs 18,600 per sq ft鈥攚hile unsold inventory grew by 15 per cent. Monthly absorption improved from 2 to 3 units.In contrast, the ultra-luxury segment (Rs 10 crore and above) experienced a 17 per cent decline in supply and a 30 per cent fall in sales. Central Kolkata acco..

Infrastructure Transport

21 May 2025

New Expressway to Cut Pune-Bengaluru Travel Time by Half

The upcoming Pune-Bengaluru Expressway is expected to significantly improve connectivity and economic opportunities across Maharashtra and Karnataka. This 700-kilometre greenfield, access-controlled highway will cut the travel time between Pune and Bengaluru from 15 hours to just 7 hours, facilitating easier movement for both commuters and businesses. Starting from Bommanal in Karnataka鈥檚 Athani Taluk, the expressway will traverse important districts such as Belagavi, Bagalkot, and Jamakhandi. It will then enter Maharashtra at Kanjle, connect with the proposed Pune Ring Road, and pass throug..

Infrastructure Transport

21 May 2025

Nagpur鈥檚 Koradi Naka to Get Y-Shaped Flyover for Safer, Smoother Traffic

To alleviate traffic congestion and enhance safety at Koradi Naka in Nagpur, a Y-shaped flyover is currently being constructed on National Highway 47. Demolition work has already commenced, with the main construction scheduled to start on June 20, 2025.The project, costing Rs 430.37 billion, involves building a 1,090-meter-long flyover that will connect Farsa, the Mahadula Railway Overbridge (ROB), and Bokhara Road, and will also feature an underpass. The existing structure will be repurposed into a service road to facilitate local traffic.Koradi Naka has been identified as a significant "blac..