HCC’s debt pile set to fall
A reduction in debt due to the government’s decision to return 75 per cent of arbitration claims of construction companies and strong order book are expected to improve operating performance of Hindustan Constructions Company.
HCC undertakes construction works in diverse segments such as hydroelectric power, water solutions, nuclear power and process plants and transportation. It builds dams, highways, metro rail system, residential apartments and tunnels.
HCC will be the biggest beneficiary of the government’s decision to return 75 per cent of arbitration claims that the government agencies owe. The company is expected to receive Rs 2,400 crore from the exercise, a part of which will be used to retire debt and the rest are working for capital deeds.