How Hindustan Construction wriggled out of the Lavasa tangle

Pushed to the brink of collapse owing to the failed hillside township project, the construction firm turned to India’s bankruptcy law to revive itself.

Four years ago, it looked like there was no hope that Hindustan Construction Co. would survive to complete 100 years in 2026. In at least 10 of the last 12 years, the company recorded cumulative losses of Rs 5,045 crore, as against a profit of Rs 597 crore. Its borrowing touched Rs 12,000 crore at one point, and it did not have enough profits to cover its interest burden. In short, its collapse was only a matter of time. 

For a long time, HCC was among the most credible competitors to India’s No.1 infrastructure firm, Larsen & Toubro. It built …

Author

T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor

surendar@mailtmc.com

Mumbai