HCC in joint venture secure orders worth Rs 236 crore

Hindustan Construction Company (HCC) informed the bourses that the company, in a joint venture with Vensar Constructions Company Limited (VCCL), has secured orders worth Rs 236 crore.

The order has been received from the Northeast Frontier Railway for the construction work of single line BG tunnels in Manipur.

In this joint venture, HCC holds a 55 per cent share, which converts the total contract value of Rs 130 crore, awarded to HCC.

During the quarter Q2FY21, the company secured orders worth Rs 7,402 crore in a joint venture, out of which, HCC’s contract share stood at Rs 3,337 crore. At the end of Q2FY21, the registered order backlog stood at Rs 18,995 crore.

During the quarter, HCC also completed the 100 per cent sale of Farakka-Raiganj Highways Limited (FRHL) to Cube Highways for an enterprise valuation of Rs 1,508 crore.

Today, the stock of HCC opened at Rs 5.99 and jumped by seven per cent and made an intraday high of Rs 6.15 on BSE.