While stating that all passes issued are valid till May 3, he also made it clear that no more new passes will be issued by Bengaluru police, other than emergency day passes.
Group CFO Praveen Sood says HCC's turnover is likely to grow at around 50 percent over the next 2 years.
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.
The company's standalone net profit in the year-ago period was Rs 9.26 crore, Hindustan Construction Company said in a filing to BSE.
Hindustan Construction Company (HCC) has put the proposed IPO for its ambitious Lavasa project on the backburner for the third time, citing bad market conditions in the realty sector.
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.
Hindustan Construction Company's (HCC) third quarter profit slipped 28.4 percent year-on-year (YoY) to Rs 19.4 crore, hit by provision of Rs 45.50 crore for forseeable loss. It was also hit by lower revenue but operational performance supported bottomline.
In an interview to CNBC-TV18, Praveen Sood, Group CFO of HCC spoke about the company‘s results.
Its total expenses declined to Rs 787.94 crore during the second quarter of the current fiscal as against Rs 791.99 crore in the corresponding quarter of the previous fiscal.
The company‘s debt stands at Rs 4,800 crore and would repay additional Rs 1000 crore over 18 months, says Praveen Sood, CFO of HCC.
When Hindustan Construction Ltd (HCC) was building a bridge in 2008 to transform the congested commute in Mumbai, its stock was at a record high as low interest rates had sparked a construction boom.
Infrastructure major Hindustan Construction Company (HCC) on Thursday reported 70 percent fall in standalone net profit to Rs 8.02 crore for the first quarter ended June 30, 2015-16.
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.
Praveen Sood, CFO, HCC Group is a bit disappointed with order inflows on the nuclear power and hydel project side but hopes that with US President visiting India there could be development in nuclear power projects
The company had posted a net profit of Rs 5.4 crore in the October-December quarter of the previous fiscal. "HCC has registered a substantial growth in the net profit for Q3 of FY 2014-15
Praveen Sood, CFO of HCC says profitability margins are coming from efforts to bring down costs. The company is seeing order inflow momentum only in the road sector as of now.
Praveen Sood, CFO, Hindustan Construction Company says at the operating level, the company has always clocked double digit margins and hopes to continue the trend in the near future. It is the interest cost that has caused the previous losses.
Praveen Sood, CFO, HCC says, in an interview to CNBC-TV18, that the company was able to post a strong net profit thanks to focus on operational efficiency and completion of projects.
Though plagued by high interest costs and heavy debt in the books, HCC, group CFO, Praveen Sood explains to CNBC-TV18 that the company is taking all efforts to turn positive by the end of the year.
Net profit of Hindustan Construction Company (HCC) plunged a drastic 90% to Rs 2.9 crore in the first quarter (April to June) of fiscal year 2012. In Q1FY11, it's PAT stood at Rs 28.3 crore.
The big concern for construction major HCC that has come out is that, apart form the Lavasa issue, it might now be facing problems in getting environmental clearances in the parent company itself, for the parent project itself.
In an interview with CNBC-TV18, Praveen Sood, CFO, HCC says, the company might miss FY11 order book guidance.
Praveen Sood, CFO, HCC told CNBC-TV18 that there was a need to hike turnover majorly to tackle rising interest costs.