New Delhi, Apr 25 (ANI/Business Wire India): The Board of Directors of Hindustan Construction Company Ltd (HCC) took on record the company's audited results for the year ended March 31, 2008.
For the year ended 31st March 2008
-- Turnover crosses Rs 3000 crore mark, up 30% at Rs 3104.34 crore compared to Rs 2394.50 crore for the corresponding period last year
-- Profit before tax up 32% to Rs 156.00 crores over Rs 117.89 crores
-- Profit after tax up 37% to Rs 108.77 crores over Rs 79.28 crores; crosses Rs 100 crore mark.
-- Improved operating margins (EBDITA) at 11.9 per cent for the FY2007-08 from 9.1 per cent in the previous year.
-- The Board of Directors of HCC has recommended a 80% dividend
-- Order book on hand at Rs.10158 crores
The company is awaiting award of projects worth Rs 3775 crores where its bids are lowest.
The company also reported that the tenders under evaluation are Rs 2570 crores and where it is pre-qualified to bid are over Rs.26,462 crore.
The company is currently executing 36 projects across the country including complex and challenging projects such as Bandra Worli Sea-Link - Mumbai, Godavari Lift Irrigation Scheme (GLIS) - Andhra Pradesh, Chennai Bypass - Tamilnadu, Pir Panjal Tunnel Lining Works, and Mughal Road -Jammu and Kashmir, Delhi Metro and Kudankulam Breakwater - Tamilnadu.
During the financial year 2007-08, the company bagged six new orders which include Irrigation tunnel work of the Pula Subbaiah Veligonda Project - Andhra Pradesh, Rajiv Sagar Lift Irrigation Project - Andhra Pradesh, Middle Vaitarna Water supply project - Mumbai, two orders from Delhi Metro Rail Corporation and construction India's first strategic crude oil storage at Vishakhapattanam.
Lavasa, the new hill station being developed by HCC Real Estate, the 100 per cent subsidiary of HCC has attracted Oxford University to put their leadership programme.
In addition to this, it has also signed MoU with Girls Day School Trust of UK and Christ College, Bangalore to set-up their campus in the hill town.
In the financial year 2007-08, it has done the pre-sale of Rs.494 crores against the target of Rs 99 crores. While most of the infrastructure is ready for phase I of Lavasa, the construction of villas and apartments is in full swing.
HCC Real Estate is developing 1.9 million sqft '247 Park' in Vokroli, Mumbai which will be ready for occupation in March 2009. The building will have Gold rated LEED Certification for Green Buildings. The construction work for this IT park is progressing on time.
The company was awarded the 'Golden Peacock Award for Excellence in Corporate Governance 2007'. It also received the 'Golden Peacock Award for Occupational Health and Safety - 2007' for Bandra Worli Sea Link Project.