HCC

HCC net profit down over 46% in Q3

HCC net profit down over 46% in Q3

Quarter starting from October and ending at December recorded fall in the net profits by 46% taking the net profit to Rs 7.9 crore for Hindustan Constructions Company (HCC).

Whereas company has recorded net profit of Rs 14.7 crore; in the same quarter last year.

HCC clarify that net off last year's foreign exchange loss of Rs 6.1 crore and Rs 2.8 crore of tax profit liability are the reasons for the fall in the net profit.

74% of stake sold by HCC to Milestone

74% of stake sold by HCC to Milestone

HCC, Hindustan Construction Company has said to have sold almost 74% of its stake for a whopping Rs 575 crore to IL&FS Milestone Funds in the commercial building. It put forward the valuation of the property in the eastern suburbs of Mumbai at Rs 775 crore.

The MD and CEO of Milestone group, Ved Prakash Arya stated “The stable rental returns from such a property would be extremely attractive for its investors with reasonable yield expectations in the current volatile investment environment,”

HCC hives off IT division into new unit

HCC hives off IT division into new unit

With in depth experience in ERP implementation, High bar Technologies has emerged as an end-to-end solution provider for the infrastructure industry as the GPS tracking solutions, reinforcement steel optimization etc, among others. The HCC today said it has hived off its IT division High bar Technologies Ltd in order to focus on the technology infrastructure industry.