HCC Net Profit up 179% to Rs 11.63 cr for Q2 2007-08

Highlights:

-- Turnover up 29% at Rs 549.05 crore for the quarter ended September 30, 2007 compared to Rs 425.66 crore for the corresponding period last year
-- Profit After Tax up 179% to Rs 11.63 crore over Rs 4.17 crore
-- EBDITA up 53% to Rs 60.10 crore over Rs 39.40 crore
-- Profit Before Tax up 129% to Rs 13.94 crore over Rs 6.09 crore
-- Order book on hand at Rs 9601 crore

The company improved its operating margins substantially to 11% for the Q2 2007-08 from 9.4% in the corresponding period last year. The company has submitted tenders worth Rs 4559 crore which are under evaluation at client end. The company also reported that the tenders under its own evaluation where it is pre-qualified to bid are over Rs 12377 crore.

HCC received three major orders in transportation and water sector worth Rs.983 crores. These include Rs. 774.64 crore (HCC share Rs 256 crore) order of construction of two underground stations and a tunnel between New Delhi and Talkatora Garden stations from Delhi Metro Rail Corporation and two projects from BMC for water tunnel construction worth Rs.727 crores.

HCC Real Estate Ltd, a 100% subsidiary of HCC is developing an IT park in Vikorli, Mumbai with a development area of 1.9 million sq.ft. The construction is in full swing and is expected to be completed by December 2008. Besides, it has plans to develop over 1500 acres of land for various projects.

Lavasa, free India▓s largest hill station being developed by HCC Real Estate Ltd has commenced marketing on Dasera (October 22, 2007). It has already achieved sales target of Rs.300 crore in current season. While Fortune, Novotel, Grand Mercure and Sheraton have already tied up to develop hotels at Lavasa, efforts are on-going to attract leaders in the field of tourism, education and healthcare. Tie ups have already been established with Ecole hТteliХre de Lausanne (EHL) for setting up a hospitality learning centre and Apollo Hospitals to develop a world-class hospital and wellness centre at Lavasa.

About HCC

HCC is a leading construction and infrastructure development company with a rich heritage of experience. The company specializes in pioneering large-scale infrastructure development and developing new age construction technologies. The company has managed and executed several technically complex and high value projects across segments like transportation, power generation infrastructure, marine projects, oil & gas pipeline constructions, irrigation & water supply, utilities and urban infrastructure. For more information, please visit www.hccindia.com.

To view the financial sheet, please click on the links given below:

HCC Unaudited Financial Results Sheet