Integrated Filing — IndAS



General information about company

Scrip Code 500185
NSE Symbol HCC
MSEI Symbol NOTLISTED
ISIN INE549A01026
Name of company HINDUSTAN CONSTRUCTION COMPANY LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 07-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Engineering and Construction
Start date and time of board meeting 14-05-2026   13:30:00
End date and time of board meeting 14-05-2026   16:45:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public No
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. No
Whether the company is a high value debt listed entity according to regulation 15 (1A)? Yes
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication? Yes
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 08-05-2025
Indicate Company website link for updated RPT policy of the Company https://hccindia.com/uploads/Investors/Policy%20for%20Related%20Party%20Transactions.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not Applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 98,871.00 3,93,725.00
Other income 2,807.00 9,935.00
Total income 1,01,678.00 4,03,660.00
2 Expenses
(a) Cost of materials consumed 15,129.00 52,651.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 8,609.00 33,142.00
(e) Finance costs 9,496.00 43,630.00
(f) Depreciation, depletion and amortisation expense 555.00 2,520.00
(f) Other Expenses
1 Subcontracting expenses 44,551.00 1,97,333.00
2 Other expenses 12,556.00 47,275.00
Total other expenses 57,107.00 2,44,608.00
Total expenses 90,896.00 3,76,551.00
3 Total profit before exceptional items and tax 10,782.00 27,109.00
4 Exceptional items (3,563.00) 218.00
5 Total profit before tax 7,219.00 27,327.00
6 Tax expense
7 Current tax 311.00 2,645.00
8 Deferred tax 2,445.00 4,101.00
9 Total tax expenses 2,756.00 6,746.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 4,463.00 20,581.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 4,463.00 20,581.00
17 Other comprehensive income net of taxes (386.00) (1,084.00)
18 Total Comprehensive Income for the period 4,077.00 19,497.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 26,195.00 26,195.00
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 2,82,473.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.2 0.93
Diluted earnings (loss) per share from continuing operations 0.2 0.93
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.2 0.93
Diluted earnings (loss) per share from continuing and discontinued operations 0.2 0.93
24 Debt equity ratio 0.2700 0.2700
25 Debt service coverage ratio 1.6300 1.2400
26 Interest service coverage ratio 2.8100 1.9500
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1) The standalone audited financial results (‘results’) of Hindustan Construction Company Limited (hereinafter referred to as the ‘Company’) and its joint operations for the quarter and year ended March 31, 2026 ('the Statement') have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Companies Act, 2013 (‘the Act’) and other recognized accounting practices generally accepted in India. The aforesaid results are in compliance with regulation 33 and Regulation 52 read with Regulation 63 of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 as amended (‘the Listing Regulations’). The material accounting policies applied in preparation of these results are consistent with those followed in the annual standalone financial statements for the year ended March 31, 2025. These results have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on May 14, 2026. 2) The Company is engaged in the business of “Engineering and Construction”. There are no other reportable segments for the Company as per requirements of Ind AS 108 'Operating Segment'. 3) The Company's business is seasonal in character and as a result, margins in the quarterly results vary, including due to the nature of its business and consequent to receipt of awards/claims or events which may lead to revision in cost to completion. Accordingly, the quarterly results may not be strictly comparable. 4) The total balance value of work on hand as at March 31, 2026 is Rs. 12,971.00 crore (March 31, 2025: Rs. 11,852.00 crore). 5) During the year, the Company has issued and allotted 799,991,900 equity shares of Rs. 1 each at a price of Rs. 12.50 per equity share (including a premium of Rs. 11.50 per equity share) aggregating Rs. 999.99 crore to the eligible equity shareholders on a right basis in the ratio of 227 equity shares for every 630 equity shares held. Pursuant to the aforesaid, basic and diluted earnings per share for the quarter and year ended March 31, 2025, have been retrospectively adjusted for effect of rights issue. (Rs. in Crore) Particulars Amount Proceeds from issue 999.99 Utilisation of funds - Repayment of loans to lenders 625.00 - Investment in Joint venture 200.00 - Augmenting working capital requirements 98.76 - Payment of issue expenses 38.41 - Payment towards general corporate purposes 33.35 Total utilisation 995.52 Amount unutilised as at March 31, 2026 4.47 6) Unbilled work-in-progress (contract assets), current trade receivables and non-current trade receivables outstanding as on March 31, 2026, includes Rs. 115.71 crore, Rs. 24.21 crore and Rs. 57.52 crore, respectively (March 31, 2025: includes Rs. 308.59 crore, Rs. 214.27 crore and Rs. 57.52 crore, respectively), representing receivables from customers based on the terms and conditions implicit in the contracts and other receivables in respect of closed/substantially closed projects of the Company. These receivables are mainly in respect of the cost over-run arising due to client caused delays, deviation in design and change in scope of work, for which the Company is at various stages of negotiation/discussion with the clients or under arbitration/ litigation. Considering the contractual tenability, progress of negotiations/discussions/arbitration/litigations and as legally advised in certain contentious matters, the Company is confident that these receivables are good and fully recoverable. 7) As at March 31, 2026, the Company has an investment (including deemed investments) in its wholly owned subsidiary, HCC Infrastructure Company Limited (‘HICL’) amounting to Rs. 1,152.77 crore (March 31, 2025: Rs. 1,294.33 crore). While the consolidated net worth of HICL as at March 31, 2026 has been substantially eroded, the management has assessed the fair value of HICL based on a valuation report from an independent valuation expert at year ended March 31, 2026. The valuation includes significant judgements and estimates in respect of future business plans, outcome of litigations for favourable arbitration awards and expected share of future revenues of erstwhile subsidiaries. Accordingly, based on the aforementioned valuation report, management believes that the recoverable amount of investment in HICL is higher than its carrying value. Statutory auditors’ report is modified in respect of this matter. 8) As at March 31, 2026, the Company has net deferred tax assets amounting to Rs. 173.91 crore (March 31, 2025: Rs. 204.90 crore), which mainly represents deferred tax assets on carried forward unused tax losses/unabsorbed depreciation and other taxable temporary differences. The Company is confident of generating sufficient taxable profits from the unexecuted orders on hand/future projects and expected realisation of claims/arbitration awards against which such deferred tax assets can be utilised and therefore considered good and recoverable. Statutory auditors’ report is modified in respect of this matter. 9) Exceptional items represent: a) The Company carries its investment in HRL Thane Real Estate Limited (‘HRL Thane’), a wholly owned subsidiary of the Company, in the books considering the underlying net asset value, primarily comprising land held by HRL Thane. During the current quarter, the HRL Thane has executed a Memorandum of Understanding for sale of the land at a value lower than earlier assessed estimates. Accordingly, the Company reviewed the carrying value of its investment and recognized an impairment charge of Rs. 35.63 crore as an exceptional item in above financial results for the quarter and year ended March 31, 2026. b) Effective November 21, 2025, the Government of India consolidated 29 existing labour regulations into four Labour codes, namely, The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to as the ‘New Labour Codes’. In accordance with the requirements of Ind AS 19 ‘Employee Benefits’, these changes have resulted in an estimated increase in the past service cost of gratuity and compensated absence by Rs. 11.28 crore. Considering that the enactment of the new legislation is a non-recurring event, the Company has presented this one-time charge under ‘Exceptional Item’ for the quarter ended December 31, 2025 and year ended March 31, 2026. The Company continues to monitor the finalisation of the Central and State Rules and clarifications from the Government on the New Labour Codes and shall provide appropriate accounting effect based on such developments, as necessary. c) In prior years, pursuant to a resolution plan agreed with its lenders, the Company transferred certain debt obligations to Prolific Resolution Private Limited (‘PRPL’). PRPL, in turn, issued and allotted non-convertible debentures aggregating to Rs. 2,854.40 crore to its lenders. During the previous quarter, following receipt of requisite approvals from PRPL’s lenders, its Board of Directors, and other relevant stakeholders, the corporate guarantee was reduced from 100% of the outstanding debt to Rs. 570.88 crore, equivalent to 20% of the principal debt amount. Consequently, the Company has written back Rs. 49.09 crore from the liability earlier recognized in respect of the corporate guarantee, in accordance with the requirements of Ind AS 109 ‘Financial Instruments’ and the same has been shown as gain under “Exceptional items” for the quarter ended December 31, 2025 and year ended March 31, 2026. 10) During the current quarter, the Company has executed a deed of assignment with HCC Contract Solutions Limited (‘HCSL’), a wholly owned subsidiary of the Company, for assignment of economic and beneficial interest in arbitration awards aggregating to Rs. 1,979.09 crore along with underlying advance of same value against respective awards resulting into net value of assets transferred to HCSL as Nil. 11) Figures for the last quarter of current year and previous year are the balancing figures between the audited standalone figures for the year ended on that date and the published unaudited year-to-date figures up to the nine months period ended December 31 of the respective financial years which were subjected to limited review by the statutory auditors. 12) Figures for the previous period/year have been regrouped/reclassified to conform to the current period's presentation, wherever considered necessary. The impact of such regroupings/reclassifications is not material to these standalone financial results.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 18,192.00
Capital work-in-progress 1,933.00
Investment property 0.00
Goodwill 0.00
Other intangible assets 0.00
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 1,37,400.00
Trade receivables, non-current 1,17,839.00
Loans, non-current 67,703.00
Other non-current financial assets
1 Other financial assets 2,216.00
Total of other non-current financial assets 2,216.00
Total non-current financial assets 3,25,158.00
Deferred tax assets (net) 17,391.00
Other non-current assets
1 Non-current tax assets (net) 5,667.00
2 Other non-current assets 5,246.00
Total of other non-current assets 10,913.00
Total non-current assets 3,73,587.00
2 Current assets
Inventories 12,847.00
Current financial asset
Current investments 5,583.00
Trade receivables, current 2,24,964.00
Cash and cash equivalents 30,603.00
Bank balance other than cash and cash equivalents 5,164.00
Loans, current 0.00
Other current financial assets
Total of other current financial assets 2,22,561.00
Total current financial assets 4,88,875.00
Current tax assets (net) 0.00
Other current assets
1 Other current assets 14,036.00
Total of other current assets 14,036.00
Total current assets 5,15,758.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 8,89,345.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 26,195.00
Other equity 2,82,473.00
Total equity attributable to owners of parent 3,08,668.00
Non controlling interest
Total equity 3,08,668.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 64,831.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Other financial liabilities 89,945.00
Total of other non-current financial liabilities 89,945.00
Total non-current financial liabilities 1,54,776.00
Provisions, non-current 5,136.00
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 1,59,912.00
Current liabilities
Current financial liabilities
Borrowings, current 17,990.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 11,154.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,90,586.00
Total Trade payable 2,01,740.00
Other current financial liabilities
1 Other financial liabilities 87,704.00
Total of other current financial liabilities 87,704.00
Total current financial liabilities 3,07,434.00
Other current liabilities 1,10,081.00
1 Other current liabilities 1,10,081.00
Total of other current liabilities 1,10,081.00
Provisions, current 3,250.00
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 4,20,765.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 5,80,677.00
Total equity and liabilites 8,89,345.00
Disclosure of notes on assets and liabilities Textual Information(1)



Text Block

Textual Information(1) NA



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Gain/(loss) on remeasurement of defined benefit plans 224.00 5.00
2 Gain/(loss) on fair value of equity instruments (647.00) (1,269.00)
Total Amount of items that will not be reclassified to profit and loss (423.00) (1,264.00)
2 Income tax relating to items that will not be reclassified to profit or loss (37.00) (180.00)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income (386.00) (1,084.00)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 27,327.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 43,630.00
Adjustments for decrease (increase) in inventories (485.00)
Adjustments for decrease (increase) in trade receivables, current 12,251.00
Adjustments for decrease (increase) in trade receivables, non-current (53,187.00)
Adjustments for decrease (increase) in other current assets 28,198.00
Adjustments for decrease (increase) in other non-current assets 1,978.00
Adjustments for other financial assets, non-current (521.00)
Adjustments for other financial assets, current 5,377.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (5,679.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (2,398.00)
Adjustments for increase (decrease) in other non-current liabilities 13,939.00
Adjustments for depreciation and amortisation expense 2,520.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 3,563.00
Adjustments for provisions, current 309.00
Adjustments for provisions, non-current 986.00
Adjustments for other financial liabilities, current 12,302.00
Adjustments for other financial liabilities, non-current (4,688.00)
Adjustments for unrealised foreign exchange losses gains (731.00)
Adjustments for dividend income 0.00
Adjustments for interest income 0.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (1,666.00)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (5,991.00)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 49,707.00
Net cash flows from (used in) operations 77,034.00
Dividends received 0.00
Interest paid 0.00
Interest received (5,732.00)
Income taxes paid (refund) 1,232.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 70,070.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 1,403.00
Purchase of property, plant and equipment 7,788.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 40,000.00
Cash receipts from repayment of advances and loans made to other parties 14,156.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 2,142.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 6,000.00
Net cash flows from (used in) investing activities (24,087.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 96,745.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 68,758.00
Payments of lease liabilities 0.00
Dividends paid 0.00
Interest paid 97,895.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (69,908.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (23,925.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents (19.00)
Net increase (decrease) in cash and cash equivalents (23,944.00)
Cash and cash equivalents cash flow statement at beginning of period 54,547.00
Cash and cash equivalents cash flow statement at end of period 30,603.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Mukund M. Chitale & Co. Yes 30-04-2027


Financial details

Amount in (Lakhs)

Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 4,03,660.00 0.00
2 Total Expenditure 3,76,551.00 0.00
3 Net Profit/(Loss) 20,581.00 0.00
4 Earnings Per Share 0.93 0
5 Total Assets 8,89,345.00 0.00
6 Total Liabilities 5,80,677.00 0.00
7 Net Worth 3,08,668.00 0.00
8 Exceptional items 218.00 0.00


Audit qualification

Amount in (Lakhs)

Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Since how long continuing Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Since how long continuing Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)


Text Block

Textual Information(1) (i) As stated in Note 7 to the accompanying Statement, the Companys investments in subsidiaries as at 31st March 2026 includes investment in HCC Infrastructure Company Limited (HICL), its wholly owned subsidiary, amounting to Rs. 1,152.77 crore, stated at cost. The subsidiarys consolidated net-worth as at 31st March 2026 is substantially eroded but, the said investment is considered fully recoverable by the management on the basis of factors stated in the aforesaid note including a valuation report obtained from an independent valuer.

However, in the absence of sufficient appropriate audit evidence to support the significant judgements and estimates applied by the management in the aforementioned valuation report, we are unable to comment upon the adjustments, if any, that are required to the carrying value of the aforesaid investment and consequential impact, if any, on the accompanying Statement.
Textual Information(2) Not applicable as the impact is unquantified
Textual Information(3) Not ascertainable
Textual Information(4) 'II (a) (i) As at March 31, 2026, the Company has an investment (including deemed investments) in its wholly owned subsidiary, HCC Infrastructure Company Limited (HICL) amounting to Rs. 1,152.77 crore (March 31, 2025: Rs. 1,294.33 crore). While the consolidated net worth of HICL as at March 31, 2026 has been substantially eroded, the management has assessed the fair value of HICL based on a valuation report from an independent valuation expert at year ended March 31, 2026. The valuation includes significant judgements and estimates in respect of future business plans, outcome of litigations for favourable arbitration awards and expected share of future revenues of erstwhile subsidiaries. Accordingly, based on the aforementioned valuation report, management believes that the recoverable amount of investment in HICL is higher than its carrying value. Statutory auditors report is modified in respect of this matter.
Textual Information(5) Included in details of auditor's qualifications stated above
Textual Information(6) (ii) As stated in Note 8 to the accompanying Statement, the Company has recognised net deferred tax assets amounting to Rs. 173.91 crore as at 31st March 2026, which mainly includes deferred tax assets on carried forward unused tax losses/unabsorbed depreciation and other taxable temporary differences on the basis of expected availability of future taxable profits for utilization of such deferred tax assets. However, we are unable to obtain sufficient appropriate audit evidence with respect to the projections for future taxable profits prepared by the management and therefore, are unable to comment on any adjustments that may be required to the carrying value of aforesaid net deferred tax assets as at 31st March 2026.
Textual Information(7) Not applicable as the impact is unquantified
Textual Information(8) Not ascertainable
Textual Information(9) II (a) (ii) As at March 31, 2026, the Company has net deferred tax assets amounting to Rs. 173.91 crore (March 31, 2025: Rs. 204.90 crore), which mainly represents deferred tax assets on carried forward unused tax losses/unabsorbed depreciation and other taxable temporary differences. The Company is confident of generating sufficient taxable profits from the unexecuted orders on hand/future projects and expected realisation of claims/arbitration awards against which such deferred tax assets can be utilised and therefore considered good and recoverable. Statutory auditors report is modified in respect of this matter.
Textual Information(10) Included in details of auditor's qualifications stated above


Signatories detail

Name of CEO / Managing director Arjun Dhawan
Name of CFO Rahul Shukla
Name of audit committee chairman Ramesh Subramanyam
Name of statutory auditor S. M. Chitale - Partner
Name of other signatory, if any, with designation
Place Mumbai
Date 14-05-2026


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)

Amount in (Lakhs)

Mode of Fund Raising Rights Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 22-12-2025
Amount Raised 99,999.00
Report filed for Quarter ended 31-03-2026
Monitoring Agency Applicable
Monitoring Agency Name, if applicable Care Ratings Ltd.
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation Not Applicable
Comments of the Audit Committee after review false
Comments of the auditors, if any false
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any
1 Repayment and/ or pre-payment, in full or in part, of certain outstanding borrowings availed by our Company NA 62,500.00 0.00 62,500.00 0.00
2 Investment in our Joint Venture, Prolific Resolution Private Limited, for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by Prolific Resolution Private Limited NA 20,000.00 0.00 20,000.00 0.00
3 Augmenting the working capital requirements of our Company NA 10,000.00 0.00 9,876.00 0.00
4 General corporate purposes NA 3,554.00 0.00 3,335.00 0.00


Signatory Details

Name of signatory Nitesh Kumar Jha
Designation of person Company Secretary
Place Mumbai
Date 14-05-2026




Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Rendering of Service 15.00 approved 15.00 0.00 0.00
2 Hindustan Construction Company Limited Seeberg Private Limited Other Related Party Any other transaction Rental Income 1.00 approved 1.00 0.00 0.00
3 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Rental Income 14.00 approved 14.00 0.00 0.00
4 Hindustan Construction Company Limited Highbar Technologies Limited Subsidiary Interest received 15.00 approved 15.00 0.00 0.00
5 Hindustan Construction Company Limited HCC Mauritius Enterprises Limited Subsidiary Interest received 631.00 approved 631.00 0.00 0.00
6 Hindustan Construction Company Limited HCC Mauritius Investment Limited Subsidiary Interest received 390.00 approved 390.00 0.00 0.00
7 Hindustan Construction Company Limited Prolific Resolution Private Limited Joint Venture Interest received 1,479.00 approved 1,479.00 0.00 0.00
8 Hindustan Construction Company Limited Prolific Resolution Private Limited Joint Venture Interest paid 115.00 approved 115.00 0.00 0.00
9 Hindustan Construction Company Limited HCC Mauritius Investment Limited Subsidiary Any other transaction Finance Guarantee Income 66.00 approved 66.00 0.00 0.00
10 Hindustan Construction Company Limited HCC Mauritius Enterprises Limited Subsidiary Any other transaction Finance Guarantee Income 15.00 approved 15.00 0.00 0.00
11 Hindustan Construction Company Limited Prolific Resolution Private Limited Joint Venture Any other transaction Service charge Income 418.00 approved 418.00 0.00 0.00
12 Hindustan Construction Company Limited HRL Township Developers Limited Subsidiary Any other transaction Reimbursement of expenses 60.00 approved 60.00 0.00 0.00
13 Hindustan Construction Company Limited Highbar Technologies Limited Subsidiary Any other transaction Services received 132.00 approved 132.00 0.00 0.00
14 Hindustan Construction Company Limited Highbar Technocrat Limited Associates Any other transaction Services received 142.00 approved 142.00 0.00 0.00
15 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Inter corporate deposits recovered 671.00 approved 671.00 0.00 0.00
16 Hindustan Construction Company Limited Prolific Resolution Private Limited Joint Venture Any other transaction Inter-corporate deposits given 40,000.00 approved 40,000.00 0.00 0.00 Inter-corporate deposit 12.00 5Years Unsecured For pre-payment of NCD
17 Hindustan Construction Company Limited HCC Contract Solutions Ltd Subsidiary Any other transaction Awards Transferred 1,97,909.00 approved 1,97,909.00 0.00 0.00 Textual Information(1)
18 Hindustan Construction Company Limited HCC Contract Solutions Ltd Subsidiary Any other transaction Advances against awards transferred (1,97,909.00) approved (1,97,909.00) 0.00 0.00 Textual Information(2)
19 Hindustan Construction Company Limited Ajit Gulabchand Chairman and Non-Executive Director Remuneration 0.00 NA 83.00 0.00 0.00
20 Hindustan Construction Company Limited Arjun Dhawan Vice Chairman & Managing Director (w.e.f June 26, 2025) Remuneration 0.00 NA 457.00 0.00 0.00
21 Hindustan Construction Company Limited Jaspreet Bhullar MD & CEO ( upto 23.06.2025) Remuneration 0.00 NA 0.00 0.00 0.00
22 Hindustan Construction Company Limited Nitesh Kumar Jha Company Secretary Remuneration 0.00 NA 31.00 0.00 0.00
23 Hindustan Construction Company Limited Rahul Shukla Chief Financial Officer (w e f 01/06/2025 ) Remuneration 0.00 NA 61.00 0.00 0.00
24 Hindustan Construction Company Limited Shalaka Gulabchand Dhawan Other Related Party Remuneration 0.00 NA 81.00 0.00 0.00
25 Hindustan Construction Company Limited Ajit Gulabchand Chairman and Non-Executive Director Any other transaction Sitting Fees 0.00 NA 10.00 0.00 0.00
26 Hindustan Construction Company Limited Santosh Jankiram Iyer Independent Director Any other transaction Sitting Fees 0.00 NA 4.00 0.00 0.00
27 Hindustan Construction Company Limited Mukul Sarkar Nominee Director Any other transaction Sitting Fees 0.00 NA 1.00 0.00 0.00
28 Hindustan Construction Company Limited Mita Dixit Independent Director Any other transaction Sitting Fees 0.00 NA 4.00 0.00 0.00
29 Hindustan Construction Company Limited Aditya Pratap Jain Non-Executive Director Any other transaction Sitting Fees 0.00 NA 5.00 0.00 0.00
30 Hindustan Construction Company Limited Ramesh Subramanyam Independent Director Any other transaction Sitting Fees 0.00 NA 9.00 0.00 0.00
31 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Outstanding receivables 0.00 NA 0.00 15,044.00 2,944.00
32 Hindustan Construction Company Limited Panchkutir Developers Limited Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 4,298.00 4,298.00
33 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 448.00 165.00
34 Hindustan Construction Company Limited HCC Mauritius Enterprises Limited Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 9,502.00 10,597.00
35 Hindustan Construction Company Limited HCC Mauritius Investment Limited Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 3,827.00 4,459.00
36 Hindustan Construction Company Limited HCC Contract Solutions Ltd Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 3.00 3.00
37 Hindustan Construction Company Limited Highbar Technologies Limited Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 1,587.00 1,619.00
38 Hindustan Construction Company Limited Badarpur Faridabad Tollways Limited Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 23.00 23.00
39 Hindustan Construction Company Limited HRL Township Developers Limited Subsidiary Any other transaction Receivables from related parties 0.00 NA 0.00 0.00 69.00
40 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Security Deposit 0.00 NA 0.00 718.00 176.00
41 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Inter-corporate deposits Receivable Balance 0.00 NA 0.00 1,15,724.00 1,15,053.00
42 Hindustan Construction Company Limited HRL(Thane) Real Estate Limited Subsidiary Any other transaction Inter-corporate deposits Receivable Balance 0.00 NA 0.00 1,863.00 1,863.00
43 Hindustan Construction Company Limited Highbar Technologies Limited Subsidiary Any other transaction Inter-corporate deposits Receivable Balance 0.00 NA 0.00 239.00 239.00
44 Hindustan Construction Company Limited HCC Mauritius Enterprises Limited Subsidiary Any other transaction Inter-corporate deposits Receivable Balance 0.00 NA 0.00 15,707.00 16,489.00
45 Hindustan Construction Company Limited HCC Mauritius Investment Limited Subsidiary Any other transaction Inter-corporate deposits Receivable Balance 0.00 NA 0.00 8,594.00 9,022.00
46 Hindustan Construction Company Limited Maan Township Developers Limited Subsidiary Any other transaction Inter-corporate deposits Receivable Balance 0.00 NA 0.00 1,912.00 1,912.00
47 Hindustan Construction Company Limited HRL Township Developers Limited Subsidiary Any other transaction Inter-corporate deposits Receivable Balance 0.00 NA 0.00 41.00 41.00
48 Hindustan Construction Company Limited Prolific Resolution Private Limited Joint Venture Any other transaction Inter-corporate deposits receivables 0.00 NA 0.00 0.00 40,000.00
49 Hindustan Construction Company Limited Highbar Technocrat Limited Associates Any other transaction Payable to related parties 0.00 NA 0.00 67.00 68.00
50 Hindustan Construction Company Limited Prolific Resolution Private Limited Joint Venture Any other transaction Payable to related parties 0.00 NA 0.00 5,667.00 16,486.00
51 Hindustan Construction Company Limited HCC Infrastructure Company Limited Subsidiary Any other transaction Advance from contractee 0.00 NA 0.00 1,335.00 921.00
52 Hindustan Construction Company Limited Ajit Gulabchand Chairman and Non-Executive Director Any other transaction Outstanding payable Balance 0.00 NA 0.00 (28.00) 4.00
53 Hindustan Construction Company Limited Arjun Dhawan Vice Chairman & Managing Director (w.e.f June 26, 2025) Any other transaction Outstanding payable Balance 0.00 NA 0.00 26.00 27.00
54 Hindustan Construction Company Limited Nitesh Kumar Jha Company Secretary Any other transaction Outstanding payable Balance 0.00 NA 0.00 5.00 5.00
55 Hindustan Construction Company Limited Rahul Shukla Chief Financial Officer (w e f 01/06/2025 ) Any other transaction Outstanding payable Balance 0.00 NA 0.00 8.00 9.00
56 Hindustan Construction Company Limited Shalaka Gulabchand Dhawan Other Related Party Any other transaction Outstanding payable Balance 0.00 NA 0.00 11.00 11.00
57 HCC Infrastructure Company Limited Highbar Technologies Limited Fellow Subsidiary Any other transaction Inter Corporate Deposits-given 5.00 NA 5.00 0.00 0.00
58 Highbar Technologies Limited Highbar Technocrat Limited Associates Any other transaction Sundry Balances Provided for 18.00 NA 18.00 0.00 0.00
59 HRL Township Developers Limited HRL Thane Real Estate Limited Fellow Subsidiary Any other transaction Inter corporate deposits received 1.00 NA 1.00 0.00 0.00
Total value of transaction during the reporting period 44,934.00



Text Block

Textual Information(1) During the current year, the Company has executed a deed of assignment with HCC Contract Solutions Limited (‘HCSL’), a wholly owned subsidiary of the Company, for assignment of economic and beneficial interest in arbitration awards aggregating to ₹ 1,979.09 crore along with underlying advance of same value against respective awards resulting into net value of assets transferred to HCSL as Nil.
Textual Information(2) During the current year, the Company has executed a deed of assignment with HCC Contract Solutions Limited (‘HCSL’), a wholly owned subsidiary of the Company, for assignment of economic and beneficial interest in arbitration awards aggregating to ₹ 1,979.09 crore along with underlying advance of same value against respective awards resulting into net value of assets transferred to HCSL as Nil.