"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 GROWTH STRATEGY: Given the changed business environment, HCC will strive to approach projects in a focused manner and concentrate on improving the bid success ratio. We will continue with our focus on securing large projects. and along with it continue to focus sharply on cost management and optimising our engineering processes. In short, the objective will be to focus on larger projects, expand more into the private sector and continue with our diligent attention on enhancing our efficiency.
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. For example, the Metallic Volute Pumps used in the Godavari Lift Irrigation Scheme, Phase-II, were India's largest in terms of capacity. In another instance, a 22 km long tunnel is being built in hostile Himalayan terrain using a tunnel boring machine for the Kishanganga Hydel Power Project.
ON THE CRITICALITY OF HR AND TRAINING: HCC is committed to the creation and retention of a world-class workforce critical to its growth. The role of HR becomes even more critical in the construction industry, due to its unique nature. This industry is typically characterised as people intensive, having a project-based culture, with shortage of skilled manpower and temporary nature of the projects. To increase the performance of our organisation is to leverage more on human capital through management of an organisation's most valued assets – the people.
At HCC, HR plays a pivotal role in capacity and capability building. We attach the utmost importance to the occupational health and safety of our employees at our project sites. We conduct safety and health related trainings at all our project sites for our employees, contract workers and also members of the surrounding communities.
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.
Most noteworthy projects
1. Project: Chutak Hydel Power Project, Kargil, Jammu & Kashmir
Details: Located 10,000 ft above sea level Size: 44 MW capacity Value: Rs 466 crore Completion date: September 30, 2011
2. Project: Maroshi-Ruparel Water Tunnel Project
Size: 12.24 km in length with a diameter of 3.60 m Value: Rs 472 crore Completion date: Scheduled date of final completion is March 14, 2014
3. Project: Pir Panjal Tunnel, Jammu & Kashmir
Size: 11.215 km in length USP: Asia's second largest tunnel and India's largest transportation tunnel Value: Rs 812 crore Completion date: June 26, 2013
4. Project: Nimoo Bazgo Hydel Power Project, Leh-Ladakh, Jammu & Kashmir
Details: Located 11,000 ft above sea level
Size: Capacity of 45 MW Value: Rs 445 crore Completion date: June 30, 2012
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 FY 2012-13) 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