Analysis of Construction Company, India

Analysis of Construction Company, India Annual Report Analysis of  Hindustan Construction Company Limited Tejas Vaidya Construction Sector Analysis: Construction in India has become a key contributor to the economy of India in the recent years. It ranks 2nd in employment and contribution to the economy only after the agriculture sector. This sector also ranks 2nd when it comes to FDI inflows. However the last three years have been a challenging period for this sector. This sector has now come into the forefront with the ‘Make in India’ campaign being driven actively by the Prime Minister of India. Key aspects of the sector are as follows: The Indian Construction is valued at about USD 126million and projected to grow to USD 140million by 2017. The Construction industry contributes about roughly 10% to the GDP, a contribution of Rs. 6708 billion in the year ending March 2013. 50% of the construction industry demand comes from infrastructure and the rest comes from industrial activity, railways, residential and commercial development combined. Being a labour intensive sector, it employs 3.5crore people including direct and indirect jobs. The government has highlighted infrastructure as a key sector to turn around and sustain the momentum of GDP growth that had slowed down in the last 3 years. This industry is skewed in terms of major players; there are a handful of companies from both public and private sector. The public sector players are: IRCON, NBCC, RITES and EIL. The major private sector players are: LT, HCC, MN Dastur Co and Ansals. There is immense scope for development in this sector and it is seen as a booming sector, primarily due to the following reasons: The estimated shortage for housing in urban India is 18.8million units whilst that in rural India is 47.4million units. The current standards of infrastructure are unable to sustain the growing population and there is hence a dire need for re-generation and renovation to meet demands in urban areas. The Government of India has released a new urban development campaign that will help develop 100 ‘smart cities’ across India. Cities will be supported to gain investments from private capital and make effective use of PPP model to strengthen their infrastructure and services. 100% foreign direct investment (FDI) is permitted in construction and infrastructure development projects. Apart from this, a high degree of recent regulatory advancements have been seen in this sector which include the following: Jawaharlal Nehru National Urban Renewal Mission The National Urban Housing and Habitat Policy, 2007 Real Estate Investment Trusts (REITS) Infrastructure Investment Real Estate Regulation Development Bill, 2013 Model State Affordable Housing Policy for Urban Areas, 2013: About HCC: Hidustan Construction Company was established in 1926 by Seth Walchand Hirachand Doshi. It is an integrated group that operates in the areas of construction, infrastructure development and real estate. Being one of the largest private sector construction companies in India, it has been involved in projects ranging from highways and bridges to hydel-power projects to nuclear facilities.HCC’s standalone turnover stands at Rs. 4,113.5 crore and net profit stands at Rs. 80.6 crore, after reporting losses for the last two years. Financial Report Analysis HCC has a multitude of ongoing, new and completed projects in this year across various states in India and also in Bhutan. A total of 202 projects are listed. The state wise spread of the projects is as follows: Chairman’s Address to Shareholders The chairman starts by highlighting the terrible state of the economy, of governance and of the infrastructure sector over the last two years. However he shares a spirit of optimism over the formations of the stable NDA government. He states that the GDP growth has been languishing at the sub 5% levels this year 2013-14. As a result the construction sector is also badly hit. Overall, HCC works in a discreditable framework in India since the sector that is most affected by economic slowdown is infrastructure. The chairman, Ajit Gulabchand lists the problems endemic to the construction industry and they are: Environmental clearances to new infrastructure projects Lack of effective decision making Non-payment of claims by government public sector clients The chairman also highlights the performance of HCC as a standalone company which has been impressive amidst turbulent economic conditions. Turnover has increased 7.2% to Rs. 4113cr and has seen an increase for 67% to 640.7cr. The company has been successful in driving down costs. A key project Lavasa is back on track and taken up by Steiner AG, a wholly owned subsidiary which has remained profitable since the last 3 years. The chairman ends with sharing his optimism with respect to a stable BJP-led NDA government under Prime Minister Narendra Modi. Management Discussion Analysis In this section various aspects of the business and business environment of HCC, both internal and external is discussed. The macro economic review The performance of the economy coming into the year 2013-14 is analysed. Chart A highlights the GDP growth rate in the 5 preceding years. Chart B highlights the growth of the construction sector. It is observed that current account deficit as a ratio to GDP has narrowed significantly and there as also been an increase in foreign inflows. India’s Infrastructure Sector   The current situation of the infrastructure sector is analysed. It is observed that the sector faces several challenges in spite of long term demand being consistent. The lethargic decision making of the old government has negatively affected the sector. Infrastructure financing need to improve significantly by dealing effectively with internal and external factors. Delays are also observed on 15-20% projects along with rise in number of projects without commissioning date. HCC- Key developments Traditional focus on transportation, power and water supplies has continued. Areas like industrial construction projects, complete engineering, procurement and construction (EPC) have been explored. The improvements implemented in efficiency of project operations, inventory management, structure of the organisation and liquidation of receivables have been noteworthy. The company has also undertaken re-evaluation projects to expedite slow-moving financially challenging projects. Performance Highlights   The company has been successful in maintaining its top line at par with 2012-13 amidst adverse economic, financial regulatory environment primarily due to its thrust on cost control. Revenue from operations stands at Rs. 4113cr up 7.2% while EBIDTA stands at Rs. 641cr up by 64.1%. The company has also successfully paid of its dues from the Corporate Debt Restructuring package availed last year. Investee Companies Includes HCC’s portfolio of business through subsidiaries: Infrastructure: focuses on investment and asset creation through PPPs. During 2013-14, the business focused on executing existing projects and raising capital. Real Estate: The focus area of this business has been the development of complete integrated townships. Total Service Contractor: An extension of engineering construction division driven primarily by Swiss acquisition Steiner AG. IT: Expansion into IT done with Highbar Technologies. Engineering Construction Division   This division is distributed across power, transport, water and industrial sectors. Transport: Two major contracts were won viz. tunnel T49 in Udhampur – Srinagar – Baramulla railway line and RCC Bridge over river Sone in Bihar. In addition progress is satisfactory on Delhi metro projects won earlier. Power: This sector has been affected in terms of new undertakings however projects under execution performed well. This includes Hydro and Nuclear Power projects. Water Supply Irrigation: The company has completed water supply projects in Gujarat. New contracts secured at Yettinahole, Karnataka as well as in Pune. Industrial: Includes civil and fabrication contracts in Hindalco-Orrissa, Reliance-Jamnagar, ISPRL-Visakhapatanam and Padur, Karnataka. Marine Works: A contract for reconstruction of a dry dock and wharves is progressing satisfactorily in Mumbai. Infrastructure Division   HCC’s infrastructure business was handled by its wholly owned subsidiary HCC Infra. Projects were majorly developed either on PPP or on DFBOT mode. The company’s entire portfolio comprises NHAI highways with concession periods ranging from 18 years to 30 years. The asset portfolio of HCC is mature which it plans to monetise to raise capital. The asset portfolio is also briefly touched upon. Real Estate Division The real estate division is further divided into two businesses, Lavasa and commercial real estate. Having received environmental clearances, 2013-14 saw the development at Lavasa go into the next phase. A restructuring meant all employees involved in construction were shifted to Steiner India and Lavasa remained a pure developer. Focus has been on collection and salesat Dasve and Mugaon. Dasve in ready withal operational basic infrastructure. Work on infrastructure and utilities development of the second town Mugaon has gathered pace. Gadle Dam, built to supply water for the construction of Lavasa neared 90% completion. Commercial real estate has also seen satisfactory progress with the work on 247 Business Square and 247 Business Avenue, Vikhroli Corporate Park Phase II and Mean Township Developers projects progressing. The company also won bids for Parleshwar CHS, Mumbai and Charosa Wineries. Steiner AG   HCC acquired the remaining 34% stake in the Swiss company which makes Steiner AG a 100% owned subsidiary. Profit level has been maintained as last year at CHF 8.2million. Key undertakings of the company post acquisitions are described. Steiner launched its new corporate identity and design in September 2013. The brand essence ‘Taking the lead together’ which is being implemented on all channels. Highbar Technologies Focus has been on IT implementation from point of view of business transformation, rather than just technology implementation. 14 new customer added to make the count of customers 78. Multiple awards have been won. Expertise developed in areas of ERP, business intelligence and CRM. Operations Support   The operations of the different divisions are supported by Management Systems, Intellectual Property Rights, Branding and Human Resources. Integrated Management System (IMS) adopted based on standards based on standards stipulated by ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 to streamline processes. Re-certification audit for ISO 9001: 2008, ISO 14001:2004 and BS OHSAS 18001:2007 conducted to confirm compliance. HCC continued to create and protect intellectual property through multiple mediums. On the branding front, HCC continued with it brand enhancement initiatives in both external and internal mediums. Brand value was enhanced by standardised brand practices and delivery of big and complex infrastructure. Awards won by HCC During the year the company won CIDC Vishwakarma Award 2014 for Best Project for Pir Panjal Tunnel, Dun Bradstreet Award for ‘Social Impact’ project of the year 2013 for Nimoo Bazgo Hydel Power Project and Construction Week Award. Human Resources Substantial improvement initiatives like annual turnover per employee, upper ceiling on indirect/ preliminary expenses at the sites and Head Office cost being limited to a percentage of turnover were undertaken. The organisation structure, work and people allocation was re-calibrated to further improve efficiency and focus on various business areas. The company is also working towards implementing performance-oriented culture. Financial Review   In this section the abridged profit and loss accounts have been illustrated. Key financial aspects have been highlighted along with key financial ratio. A detailed analysis of the financials has been included in the later part of this report. References: Annual Report AY 2013-14 –  http://www.hccindia.com/pdf/HCC_Annual_Report_FY2013_14.pdf http://makeinindia.com/sector/construction/ http://en.wikipedia.org/wiki/Construction_industry_of_India https://www.equitymaster.com/research-it/sector-info/construction/Construction-Sector-Analysis-Report.asp http://www.indiainfrastructure.com/reportpdf/research_catalogue.pdf K.J. Somaiya Institute of Management Studies Research Page | 1

Administrative Ethics Essay

This article presents a case study highlighting the conflict between an individual’s right to privacy and the rights of patients and staff to know when a professional standard has been breached. The process by which the administrator determines a course of action is reviewed in the context of workplace realities through an ethical analysis. The growth of information systems and the increased involvement of third parties in decision-making have created new issues regarding confidentiality and the release of sensitive information for health care personnel who are in a position of public trust. The issues facing nursing administrators are complex, and of particular concern are the conflicting demands of providing quality care with limited resources. The authors identify strategies to deal with the workplace issues that give rise to the potential for abuse as well as the strategies to support an impaired colleague who attempts to reenter the workforce (Badzek, Mitchell, Marra, & Bower, 1998). When asking the general public what health care ethics and health care privacy mean, most will relate that they are about protecting patients. Health care ethics and health care privacy do exist to protect patients and to ensure that care is delivered with moral and ethical standards. Health care ethics not only apply to patients, but to organizations as well. The rapidly changing world of health care is witnessing a growing need for institutional ethics that includes ethical employer-employee relations. The article cited in this paper highlights two managers that encounter an employee diverting narcotics on the job, how each manager deals with this incident, and the ethical dilemma of whether this employee is entitled to confidentiality or if fellow staff should be informed of the narcotic abuse. Identifying and analyzing the ethical question is how the best possible solution may be determined. By examining the issue and its impact on the population affected, discussing the proposed solution, and highlighting the ethical and legal implications of the issue will explain managerial responsibilities in this case. Issue and Impact The article reflects the ethical dilemma of whether or not an employee who has been identified as using diverted narcotics on the job is entitled to confidentiality or if the staff involved with the employee are entitled to know about the drug abuse. Jackie is a nurse that has returned to work after taking many years off to raise a family. She takes a job at a hospital working in the flexible staffing pool. As time passes, Jackie finds that work is extremely stressful because she rarely works in the same unit. She is asked to pass meds and perform work she is unfamiliar with and despite asking for help, has not received adequate support. The increasing stress leads Jackie to divert narcotics. Jackie’s diversion of narcotics goes unnoticed for quite awhile because she works in so many different units. She is eventually discovered when she spends three weeks in the same unit covering for someone’s vacation. Michele and Karen are both nursing administrators involved in Jackie’s case. Jackie reports directly to Karen, who is head of the flexible nursing pool. Michele is the nursing administrator of the unit Jackie was discovered diverting narcotics from. Karen makes the decision to grant Jackie a leave of absence to pursue rehabilitation. The stipulation of completion of the rehabilitation program will allow Jackie to return to her job. Karen does not report Jackie to the State Board of Registered Professional Nurses because she is actively engaging in rehabilitation activities. Following these events, Michele meets with the human resources director, the nurse manager of the unit Jackie was working on when the drugs were diverted, and the chair of the nursing ethics committee to determine if further action should be taken. Michele believes that Jackie has a right to privacy and confidentiality, but thinks that an open staff discussion is needed to highlight for the staff the prevalence of nurse addiction. She also wants to identify if anyone knew or suspected Jackie’s diversion of narcotics and didn’t act. Karen’s concern is motivated by not knowing how to handle Jackie’s issue should she return to work and by the fact that Jackie compromised patient’s pain relief by diverting their narcotics. Karen objected to planning an open staff meeting because she felt  it would compromise Jackie’s confidentiality. Supporting the Proposed Solution The issues to address involve separating the greater good of the patient population and the rights of the other staff from the individual right of Jackie’s confidentiality. Karen believes that confidentiality should be protected without exception and that the corrective action initiated by the administration was adequat e. Karen also argues that if Jackie’s situation becomes common knowledge to staff, they might fear that other confidential information will be shared by administration. Michele believes that Jackie’s actions warranted a discussion with the nursing staff to determine if anyone knew or suspected and why they did not act. Despite Jackie’s willing participation in rehabilitation, she still needs to self-report to the State Board of Nursing. Mandatory reporting for most state boards includes actual or suspected drug diversion (Arizona State Board of Nursing, 2012). The State Board of Nurse Examiners assesses each report and can take disciplinary action, ranging from a reprimand, probation, suspension, revocation, or refusal to renew a license (Badzek et al., 1998). Michele needs to collect information about her organizational policy and procedures in relation to impaired employees. The state Nurse Practice Act provides standards of practice that reflect current state laws and regulations. In the absence of relevant law, ethics help determine what is morally acceptable (Weinstein, 1995). Information regarding the ethical and proper managemen t of nurses with substance abuse problems is also available through the American Associations of Colleges of Nursing (AACN). The arguments for protecting private information are closely linked to human dignity and respect (Garrett, Baillie, & Garrett, 2009). It is incredibly important for Michele to utilize all of these resources to sort through her legal and ethical obligations to patients, Jackie, other staff, and her profession. Managerial Responsibility Michele ultimately honors Jackie’s privacy and confidentiality, but in order to fulfill her ethical obligation to the nursing profession, she also finds solutions to place measures to provide competent, ethical nursing conduct. Solutions include: 1) clarifying policies and issues of employee  confidentiality 2) Identifying and developing education for administration in identification of ethical issues and decision making 3) Reviewing and improving policy in regards to impaired employees 4) Educating all staff about the signs and symptoms of drug abuse, reporting requirements, and the available resources. Conclusion When discussing privacy and c onfidentiality in healthcare we often assume that this is in regards to patients only. What the healthcare community is finding is that it is equally important to have clear policy and code regarding privacy in employer-employee relations. Ethical dilemmas are complex and require collection of all pertinent information to find ethical solutions. This paper highlighted an ethical dilemma that involved a choice between honoring an employee’s privacy and disclosing important information involving substance abuse to the other staff. Examining the facts and collecting information from professional organizations and regulatory agencies assisted in reaching an ethical decision. Not only was the employee’s privacy honored, the organization improved processes to recognize and deal with substance abuse more effectively.

The Basics of 1200 Words Essay Topics

The Basics of 1200 Words Essay Topics Arguments always happen in a particular context. Argumentative essays are a few of the best that you can write as a student. The aim of such essays isn't to demonstrate your knowledge, yet to exhibit the important thinking and analytical skills. If when you are preparing a report you just analyze specific literature, the essay demands a superb penetration into the issue. SATs ought to be eliminated. To compose a strong argumentative essay, students should start by familiarizing themselves with a number of the common, and frequently conflicting, positions on the research topic so they can write an educated paper. If it's necessary to compose your whole essay in 1 day, do your very best to give yourself breaks so you don't burn out. Don't make it quite complicated. Things You Won't Like About 1200 Words Essay Topics and Things You Will Finding the most suitable arguments will allow you to prove your point and win. Last, you should also have the ability to talk about either side of the argument to provide a rounded essay. If you are in possession of a valid issue and you may offer sufficient arguments on it, then go with this. It's important to select debatable argumentative essay topics since you need opposing points you can counter to your own points. When it has to do with writing an argumentative essay, the most significant issue to do i s to select a topic and an argument you may really get behind. It's not sufficient to pick a topic which everybody agrees on. Once you select the right topic you shall ensure it is attractive to the reader. When you are requested to pick a great topic for your argument, start with something you're acquainted with. Instead of just immediately writing about your argumentative essay topic, you should first think about what it is that you're likely to put back on your paper through a procedure of brainstorming and pre-writing. To reach a compelling subject, you will need to focus on a single issue as opposed to using several thoughts which have a tendency to confuse the reader. Besides general knowledge you have concerning the subject, you won't mind dedicating some opportunity to research, writing procedure, and other aspects essential for the high-quality essay. The procedure for translation is known as mathematical modelling. The Number One Question You Must Ask for 1200 Words Essay Topics When you are finished with your essay, you must not just check it for spelling and grammatical errors, but nevertheless, it also has to be checked for logical fallacies. In situations when you get to pick the topic for an argumentative essay, you need to be wise and locate a title that will intrigue a reader. Thus, it's important to read corresponding formatting guide. Locating good essay topics you could discuss effectively and create powerful argumentative essays is a tough work. If you opt to be an independent essay writer, you can expect the exact same. Should you need professional help with argumentative essay topics, don't hesitate to speak to us. At times you might require some expert help with argumentative essay topics. The True Meaning of 1200 Words Essay Topics A wonderful essay example on the subject of mobile phone culture nowadays and the way that it influences our everyday pursuits. Look at the world today, search via the internet and appear at news articles too there's inspiration everywhere. It is very important to begin with demonstrating the major idea of the entire piece so you and your readers are going to be on the exact same page. New Ideas Into 1200 Words Essay Topics Never Before Revealed Teens should have the ability to select their bedtime. When students are writing their argumentative essays which must find, re ad and analyze tons of material to do good. Rumors, Deception and 1200 Words Essay Topics If it comes to write engineering essay for those students that are studying in electrical engineering school becomes confused since they are engineers and not the writers. College is for a high amount of study. The student may give the specifics of the topics to the firm. Presenting The Research Paper Research papers must be presented well to make the best effects.

The Indian Market Of Mass Consumerism And Debt Based...

Introduction :- The Indian market is not the Western market of mass consumerism and debt based consumption. This might seem like an obvious thing to say. However, this important fact has determined how the market has adopted to the new trends seen in the western market. In this context, it is not surprising that credit cards and online shopping was not easily adopted in the easy market. People were sceptical of a plastic as money and trusting their information over the unknown internet. Moreover, shopping is also an intensely personal experience in this culture. The experience is an important part of the process. This is slowly changing. However, the change in the online grocery shopping sector is not as fast. People are still hesitant about getting their food through the internet. The following points highlights that shows how online grocery shopping is better in the Indian market. 1. No Traffic Problem The traffic in the Indian cities is notoriously bad. People could be stuck in it for hours even when they want to travel a few kilometer. Sometimes, the time spent in traffic is more than the time people spend shopping for groceries. This is unstainable and a big waste of time and thus online grocery shopping can help people save the time. 2. Savings in Parking Cost Anybody who has ever lived in any Indian city understand that finding parking especially for cars and jeeps is more difficult than buying a house. So, to get rid of this colossal hassle online grocery shoppingShow MoreRelatedSample Resume : Business Administration Essay3099 Words   |  13 PagesMultiple customer groups d. Features of Retail Banking ïÆ'Ëœ Impact of Retail Banking in Indian Economy ïÆ'Ëœ Trends in Retail Banking ïÆ'Ëœ Role of Retail Banking in Indian Economy ïÆ'Ëœ Challenges in Retail Banking SCOPE OF STUDY The benefit of the study for the researcher is that it helps to gain knowledge and experience and also provides the opportunity to study and understand the role of retail banking in Indian Economy. The aspects of my research are : †¢ To study Retail Baking with its featuresRead MoreBiography of Kishore Biyani11159 Words   |  45 PagesAwards and Recognition | 37 | 10. | Bibliography | 38 | 1. HISTORY Kishore Biyani is the person whose talent is transforming India Retail and Indian Economy with his vision and power to grow. He is the person, who stood up and is going well to break the parameters of Indian Retail. He is known by several names: the king of retail the unstoppable Indian the man who saw the future. Kishore Biyani belongs to a trading family from Rajasthan settled in Mumbai for more than 60 years now. He was neverRead MoreEco-Buddhism7194 Words   |  29 Pagesinfluence of mass advertising.   From an early age, we are bombarded by powerful imagery, deployed through a hypnotic medium, television, that bypasses conscious filters to directly influence our subconscious mind. The vivid imagery of television and movies create a seamless virtual reality that programs our collective nervous system. From America to China, consumerism has become an organizing principle for billions of peoples’ lives. Zen Buddhist philosopher David R. Loy states: Consumerism requiresRead MoreChina vs. India: The Favorable Investment Destination6007 Words   |  25 Pages On one hand there is Peoples Republic of China, a totalitarian state, with Mr Hu Jintao as President and the Communist Party of China (CCP) dominating the government. On the other, there is India, a democracy, historically under the control of Indian National Congress but having a trend of coalition governments in power for some time now. In terms of the economic situation China contributed 13% of the world GDP in Purchasing Power Parity (PPP) terms in 2004 . In the same year, contributionRead MoreMarketing Management130471 Words   |  522 PagesMarketing Management UNIT -- I Unit No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Unit Title Marketing management – an introduction Marketing environment Marketing with other functional areas of management Market segmentation Market targeting and positioning Product management Brand management Pricing Channel design and management Retailing and Wholesaling Integrated Marketing Communication Advertising management Sales promotion Personal selling Public relations UnderstandingRead MoreSmall Scale Industry10786 Words   |  44 Pageslike hosiery products, garments, leather products, fishing hook etc to more sophisticated items like television sets, electronics control system, various engineering products especially as ancillaries to large industrial undertakings. Nowadays Indian small-scale industries (SSIs) are mostly modern small-scale industries. Modernization has widened the list of products offered by this industry. The items manufactured in modern Small-scale service Business enterprises in India now include rubberRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesprevious history combined. During the same time span, however, state tyranny and brutal oppression reached once unimaginable levels—in large part due to the refinement or introduction of new technologies of repression and surveillance and modes of mass organization and control. Breakthroughs in the sciences that greatly enhanced our understandings of the natural world and made for major advances in medicine and health care were very often offset by the degradation of the global environment andRead MoreModern History.Hsc.2012 Essay25799 Words   |  104 Pagesstock market * black Thursday November 24 1929 * the jazz age * a speakeasyyyyyyy How significant were the Republican policies in causing the great depression? The significance of the republic policies were great, they brought a lot of growth in the 20’s allowing the market to strive over lots of trading and the purchase of shares, but was also an unstable market, as the government had no control over what it did and was left up to the private sector almost to run the market. Read MoreSience23554 Words   |  95 PagesJohn Cook, writing the popular Skeptical Science blog summarizes the key indicators of a human finger print on climate change: [pic]John Cook,  10 Indicators of a Human Fingerprint on Climate Change, Skeptical Science, July 30, 2010 This graph, based on the comparison of atmospheric samples contained in ice cores and more recent direct measurements, provides evidence that atmospheric CO2  has increased since the Industrial Revolution: [pic] (Source: NOAA) via:  Climate Change: How do we know?  NASARead MoreDoing Business in the Asia/Pacific Rim Region31325 Words   |  126 Pagesa wide range of financial services to all sectors of the economy, including funds management and insurance services. Foreign banks authorized to operate as branches in Australia are required to confine their deposit-taking activities to wholesale markets. There are 51 separate banks in Australia. Currency Australia’s currency is the Australian dollar. A$1.0 = US$0.8101 A$1.0 = Euro$0.5697 As of June 2, 2009, the exchange rate was: Foreign Exchange Control There are no foreign exchange controls