Targeting order book of Rs 20000cr by FY10: HCC

Hindustan Construction Company (HCC) has announced its Q1FY10 numbers. Its net profit declined to Rs 18.2 crore from Rs 30.8 crore year on year.
Its net sales went up at Rs 964.1 crore from Rs 865.9 crore and EBITDA (earning before interest, tax, depreciation and amortisation) margins stood at 12.8%

The company’s CMD Ajit Gulabchand, speaking on the results, said it would be difficult to sustain 30% year-on-year growth. He added that he saw FY10 turnover at Rs 3,500–4500 crore.
“Margins have improved on account of higher contribution from power,” he said, adding that the company was looking to reduce its net working capital by Rs 900 crore.
The company was targeting an order of Rs 20,000 crore by end FY10, Gulabchand said.