Hindustan Construction Company (HCC) released its Q3 FY26 investor presentation detailing financial results and key operational milestones. Standalone turnover was ₹921.8 Cr, while EBITDA margin improved slightly to 15.2%. The company secured new JV orders worth ₹1,478 crore, secured a robust bid pipeline of ₹53,820 Cr, and reported strong progress across major ongoing projects like the Indore Metro and various hydro-electric power projects.
Q3 FY26 Financial Performance Highlights
HCC provided a detailed overview of its financial performance for the quarter ending December 31, 2025 (Q3 FY26). Standalone turnover stood at ₹921.8 Cr, compared to ₹1,002.1 Cr in Q3 FY25, representing an 8.0% drop year-on-year. However, standalone EBITDA margin showed resilience, expanding to 15.2% from 14.7% in the previous year’s corresponding quarter. Standalone Net Profit saw a significant turnaround, recording ₹85.9 Cr against a loss of (₹216.4) Cr in Q3 FY25, aided by exceptional income of ₹37.8 Cr.
Consolidated Results Snapshot
On a consolidated basis, Total Income decreased by 9.8% to ₹961.5 Cr. Consolidated EBITDA (excluding other income) was ₹67.2 Cr, a significant improvement from the negative EBITDA of (₹30.5) Cr in Q3 FY25. The company reported a consolidated Profit/(loss) after tax of ₹8.1 Cr for the quarter.
Order Book and Business Momentum
The Order Backlog remains healthy at ₹13,148 Cr. The business line-wise distribution shows 65% reliance on Water projects, followed by 19% in Transport. Geographically, 25% of the order book is concentrated in Maharashtra.
Key business updates include securing two new joint venture orders from the Northern Frontier Railways, aggregating ₹1,478 crore (HCC holding a 65% stake). The bid submitted and under evaluation pipeline is strong at approximately ₹53,820 Cr. Furthermore, the recent ₹1,000 crore Rights Issue was subscribed by ~200%.
Significant Deleveraging and Financial Progress
The company highlighted significant progress in debt reduction. HCC planned an additional ₹876 Cr repayment in Q4, building on ₹680 Cr prepayments made in FY26, driving the substantial debt reduction target to approximately ₹1950 Cr. Additionally, the HCC Corporate Guarantee on debt of Prolific Resolution Pvt. Ltd. was successfully reduced from 100% to 20%.
Key Project Operations Updates
Metro Projects
- Patna Metro Rail Project (Packages 05 & 06): Commencement was inaugurated by the Chief Minister of Bihar, Shri Nitish Kumar.
- Indore Metro Rail Project: Piling works are active across all five stations, with station excavation underway at the Airport and Rajwada stations. Trial Ring Assembly was also showcased.
Hydro Power Projects
- Vishnugad-Pipalkoti HEP (4×111 MW): A significant portion of dam concrete works is achieved, and 8.5 km of the planned 12.1 km Head Race Tunnel (HRT) has been excavated using the TBM.
- Tehri PSP (4×250 MW): The powerhouse construction is progressing well, as indicated by overview images.
- Bhivpuri PSP (3×333.33 MW): Lower Reservoir Excavation is actively in progress.
- Tapovan Vishnugad HEP (4×130 MW): Tunnel excavation activity is ongoing at Face 4 and Face 5.
Other Infrastructure
- Agardanda Creek Bridge: Piling works at Navigation Span P51 and Segment Casting activities are advancing in line with schedules.
- Fast Reactor Fuel Cycle Facility (FRFCF): Construction update shows ongoing work on Block 6 and Block 7 structures.
Source: BSE
