"HCC has time and again exhibited a consistent ability to understand a project in its totality, been able to source all the diverse technological skills and methodology required for its execution and integrate them all under one umbrella." - Arun Karambelkar, President and Whole Time Director
With a name of the country embedded in it - and Mumbai's uber chic Bandra-Worli Sea link on the top of its list of accomplishments in the infrastructure sector - HCC is permitted a healthy dose of braggadocio. But right now the construction major is in a more reflective phase as it tries, like a wise old man, to negotiate the impact of the recent economic slowdown. After expanding at a compounded annual growth rate of over 20 per cent between 2002 and 2011, HCC in the wake of the economic slowdown is trying to reinvent itself, steeply reducing its spending and borrowings. The company is saving costs by optimising its engineering and, hence, machinery and capital deployment. Even as it is sharpening its cash flow management, as part of efforts to boost finances HCC is focused on fewer but larger projects and to do it more efficiently. Ajit Gulabchand, Chairman & Managing Director, recently told shareholders, "We are approaching projects in a focused manner and concentrating on improving the bid success ratio rather than increasing the number of bids." This is one firm that knows how to reinvent itself according to the times. And sharing more on the company's USP, vision, growth strategy, HR and training is Arun Karambelkar, President and Whole Time Director, HCC.
On the company's USP as an EPC contractor: "HCC has executed some of the most challenging EPC projects in the recent past such as: Phases I and II of the Godavari Lift Irrigation Scheme in Andhra Pradesh (second largest lift irrigation scheme in the world), the Kishanganga Hydel Power Project, J&K (India's largest EPC Hydro Power Contract) and the Tirupur Water Supply Scheme - Tamil Nadu (India's first private sector water supply project). Most projects executed by the company are very large and complex, have unique technological and engineering requirements and have been built under challenging climatic and geographical conditions."
Vision statement: "To be the industry leader and a market driven engineering construction company renowned for excellence, quality, performance and reliability in all types of construction."
Year of establishment: 1922 Top management: Ajit Gulabchand, Chairman & Managing Director; Rajgopal Nogja, Group COO & Whole Time Director; Arun Karambelkar, President and Whole Time Director No. of employees: 3,000 officers, including around 1,600 engineers and around 25,000 workers at its project sites across India Centres of operation: Headquartered at Mumbai with projects based across India. Turnover: Rs 3,837 crore (during FY2012-13) Current order book: Rs 14,935 crore (As of March 31, 2013) Range of projects handled: Hydel power, water solutions, transportation, nuclear power and process plants Landmark projects: Chutak Hydel Power Project, Kargil, Jammu & Kashmir; Maroshi-Ruparel Water Tunnel Project; Pir Panjal Tunnel, Jammu & Kashmir; Nimoo Bazgo Hydel Power Project, Leh-Ladakh, Jammu & Kashmir