HCC Cuts Corporate Guarantee To PRPL By Rs 33.64 Billion

12 Dec 2025 CW Team

Hindustan Construction Company (HCC) has executed a major reduction of Rs 33.64 billion in its corporate guarantee exposure to Prolific Resolution Private Limited (PRPL), marking a significant milestone in liability reduction while retaining its 49 per cent equity stake in the associate company.

The reduction forms part of HCC’s broader plan agreed with lenders. Earlier, HCC had transferred Rs 28.54 billion of debt to PRPL along with Rs 65.08 billion worth of awards and claims, while maintaining its 49 per cent equity holding. HCC had also issued a corporate guarantee covering 100 per cent of PRPL’s debt. With accrued interest, PRPL’s outstanding debt and awards and claims currently stand at Rs 39.35 billion and Rs 63.25 billion, respectively.

Following formal approvals from PRPL’s lenders, its Board and other stakeholders, HCC’s guarantee obligation has now been reduced from full coverage to Rs 5.71 billion, representing 20 per cent of the principal amount transferred. HCC said the restructuring supports its long-term strategy to deleverage, enhance its investment-grade profile and improve its ability to tap capital markets for future growth.

The company added that this development will help it access larger credit facilities and raise equity capital, including through its recently announced rights issue supported by the promoter group. The revised guarantee framework was finalised in coordination with lenders and complies with regulatory, legal and governance standards.

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