Hindustan Construction Company Limited has received comprehensive credit rating reaffirmations from CARE Ratings Limited across its various financial instruments and bank facilities. The rating agency confirmed its assessments based on the company's operational and financial performance for FY25 and 9MFY26, maintaining stability in the credit outlook.

Credit Rating Reaffirmations

CARE Ratings Limited reaffirmed multiple credit ratings for the construction major, covering a substantial portfolio of financial instruments. The rating review was conducted on March 30, 2026, following evaluation of recent developments in the company's operational and financial performance.

Bank Facilities Structure

The company's long-term bank facilities worth ₹98.72 crore consist primarily of foreign currency term loans. These include facilities from the Export Import Bank of United States amounting to 6.89 million USD (₹56.04 crore) and Asia Opportunities IV (Mauritius) Limited totaling 7.56 million USD (₹42.68 crore).

The substantial long-term and short-term bank facilities of ₹7,313.28 crore comprise mainly non-fund based limits across multiple banking partners. Major contributors include Punjab National Bank (₹1,392.44 crore), ICICI Bank (₹1,234.82 crore), and IDBI Bank (₹963.22 crore), among others.

Debenture Portfolio

The rating reaffirmation covers debenture instruments totaling ₹733.27 crore. The Non-Convertible Debentures worth ₹457.90 crore are scheduled for repayment between March 31, 2026, and June 30, 2031. The Optionally Fully Convertible Debentures of ₹275.37 crore will be repaid through seven structured annual installments ending March 31, 2029.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The rating reaffirmation letters from CARE Ratings Limited have been communicated to both BSE Limited and National Stock Exchange of India Limited as required by regulatory framework.

Total Financial Exposure

The comprehensive rating reaffirmation covers total facilities worth ₹8,145.27 crore, demonstrating the significant scale of Hindustan Construction Company's financial operations. CARE Ratings reserves the right to undertake surveillance and review of these ratings periodically, with at least one review conducted annually based on the company's performance and market circumstances.

Hindustan Construction Company Limited has secured a significant infrastructure contract valued at ₹1,662.27 crore from the Brihanmumbai Municipal Corporation for the construction of Goregaon–Mulund Link Road Phase IV project. The contract was awarded on March 19, 2026, through the Aakshya-HCC Joint Venture, where HCC holds a 49% stake.

Joint Venture Partnership Details

The project will be executed through a strategic partnership with Aakshya, forming the Aakshya-HCC Joint Venture. This collaboration enables the company to leverage combined expertise and resources for delivering this major infrastructure initiative in Mumbai's transportation network.

Comprehensive Project Scope

The GMLR Phase IV project encompasses extensive infrastructure development across two distinct phases. Phase I includes construction of a second-level flyover spanning 1,330 metres and free-left movements at grade. The at-grade road construction extends to 3,200 metres, while free-left at-grade components cover 2,620 metres.

Phase II involves more complex infrastructure elements, including construction of a cloverleaf interchange and free-left bypasses at grade. The cloverleaf loop and interchange will span 2,400 metres, with free-left bypasses extending 3,600 metres at grade level.

Technical Infrastructure Components

The project features advanced engineering elements designed to enhance Mumbai's east-west connectivity. Key technical specifications include an obligatory cable-stayed span of 180 metres and connecting ramps totaling 270 metres in length.

Strategic Impact on Mumbai's Infrastructure

This contract represents a substantial addition to HCC's project portfolio, reinforcing the company's position in India's infrastructure development sector. The Goregaon–Mulund Link Road corridor development by BMC aims to significantly improve east-west connectivity in Mumbai, addressing critical transportation infrastructure needs in the metropolitan area.

With nearly 100 years of engineering heritage, HCC has established itself as a key player in India's infrastructure landscape, having executed major projects including 26% of India's hydro power generation capacity and 60% of nuclear power generation facilities.