HCC is one of the largest private sector construction companies in India and the foremost in infrastructure building. Businessman and nationalist, Seth Walchand Hirachand, founded the company. With a vision for a modern and prosperous India, Seth Walchand entered into the core sector of industry and on 27th January 1926 Hindustan Construction Company Ltd.,(HCC) was born. Company started initially with tunneling works has today grown to a Company with a dedicated, experienced and expert team of people achieving remarkable feats in the field of civil engineering construction.

HCC is the first construction company in India to be certified for ISO 9001, ISO 14001 and OHSAS 18001 for our Quality, Environmental and Occupational Health & Safety Management Systems. In keeping with world-class management processes, we are also among the first few companies in India to implement the SAP ERP software across all 35 site locations. Company also has Technical collaboration with- Taisei Corporation, Japan - Metro Railway Project, Calcutta, Nikex - Hungarian Trading Company, Germany - Metro Railway Project, Calcutta Bureau BB, Switzerland - Godavari Bridge Super Structure, Andhra Pradesh.

Products & services-

HCC has contributed its civil engineering construction expertise with leading edge technologies for building some of the foremost infrastructure projects in India and abroad. Among these are over 300 road and railway bridges and several outstanding landmarks around the country. HCC has been involved in construction of the most diverse projects ranging from power, dams, highways and bridges, to marine structures, water supply, factories and waste treatment plants.

With focus towards empowering the nation, company currently span across Construction, Real Estate and Infrastructure development - fields which form part of the backbone of any nation building effort. The HCC Group of companies comprise of HCC Ltd (Engineering & Construction), HCC Infrastructure Ltd, HCC Real Estate Ltd
(HREL) and Lavasa Corporation Ltd. The group specializes in technically complex, new-age infrastructure projects, as well as EPC, BOT, Integrated Projects and Townships.

Company has executed a majority of India's landmark infrastructure projects, having constructed more than 25% of India's hydro power, and over 50% of India's nuclear power generation capacities, 2,227 kms of Roads & Expressways and over 200 kms of complex tunneling in addition to hundreds of Bridges, Dams and Barrages.

HCC has remained at the forefront of India's engineering construction industry with global management practices, which include acquiring international ISO certifications for management systems in Quality, Occupational Health & Safety and Environment. In fact, Environment Management is a key focus area for the Company and we are implementing various initiatives through the government recognized Centre for Research and Development and Innovation (CRDI), such as use of fly ash in concrete that helps reduce carbon emissions and innovative techniques in pipeline joint testing.

Having established robust Corporate Governance norms, the Company has also set global benchmarks in the construction industry with the fastest implementation of SAP
-ERP coupled with high levels of complexity across 28 diverse project locations. The complex implementation of ERP at HCC's hydroelectric projects under construction at altitudes of more than 11,000 feet in Leh, Jammu and Kashmir, remains the highest location of SAP-ERP operations in the world.

Valuations

At current market price stock is trading at 17.67 P/E multiple of its FY2010 estimated earnings. We recommend investors to buy "Hindustan Construction Company limited" with medium to long term investment horizon.