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From the sidelines of the World Economic Forum India Summit in New Delhi, CNBC-TV18 spoke to numerous industry veterans.
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The company will receive arbitration funds worth around Rs 2,000 crore by December and it will have Rs 8,800 crore worth new projects under arbitration currently, says Praveen Sood, Group CFO, HCC.
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Under the new norms, the government will release 75 percent of amount against margin free guarantee in cases where arbitral awards have been given, but have been contested.
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Company's key focus would be to realise claims worth Rs 10,000 crore from the government, says Praveen Sood, CFO at HCC. He also added that company expects Rs 3,000 crore via arbitration proceedings over the next 18 months.
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Ajit Gulabchand, Chairman and Managing Director, HCC expects a pickup in infrastructure spending in the coming year.
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Since it takes one year for the rate cut to have an impact, atleast a 200 bps rate cut was needed to revive the capex cycle, Ajit Gulabchand explained.
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HCC has won an order worth Rs 1783 crore to construct 36 kilometers of highway in Jammu and Kashmir.
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The company is also seeing a significant pick-up in commercial vehicle sales.
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Praveen Sood, CFO at HCC informed a few EPC contracts of the company in the past were delayed due to land clearance issues and added that there exists outstanding claims of approximately Rs 4,000 crore with various govt authorities.
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Ajit Gulabchand, Chairman, HCC told CNBC-TV18 that the issue of payment to the industry is yet to be sorted out.
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Ajit Gulabchand, chairman and managing director HCC spoke to CNBC-TV18‘s Nayantara Rai on the sidelines of the India Economic Summit.
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Ajit Gulabchand, CMD, HCC, says Jayanti Natrajan's exit is not just a case of change of guard but a change in the thinking of handling environment protection in the country.
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Indian stock market is cheering this outcome and stocks are doing well, but that does not necessarily mean that India Inc is celebrating, says Ajit Gulabchand, CMD, HCC.
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Due to delay in approvals we lost three years, we are now making for it. In just another three years we will be there on the doorsteps of the stock markets. So, everything is back on the table including the Lavasa IPO, Ajit Gulabchand, HCC said.
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Chairman of the company Ajit Gulabchand tells CNBC-TV18 that he finds the Maharashtra government acting as an agent of the MoEF.
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Chairman of HCC Ajit Gulabchand tells CNBC-TV18 in an exclusive interview that the Lavasa project is an infrastructure project which the Maharashtra government itself wanted.
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In an interview with CNBC-TV18, Praveen Sood, CFO, HCC says, the company might miss FY11 order book guidance.
