Hind Prefab on the block

The government on Monday invited bids from state-owned firms for the strategic sale of Hindustan Prefab, a project management consultant to entities building public institutions such as academic centres, suburban markets and hostels for universities and IITs. The company is under the administrative control of the ministry of housing and urban affairs.

By Our Special Correspondent
  • Published 17.10.17
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New Delhi: The government on Monday invited bids from state-owned firms for the strategic sale of Hindustan Prefab, a project management consultant to entities building public institutions such as academic centres, suburban markets and hostels for universities and IITs. The company is under the administrative control of the ministry of housing and urban affairs.

"The government has decided to disinvest 100 per cent equity shareholding in HPL along with the transfer of management control through a competitive bidding process by way of acquisition by a similarly placed CPSE through the sale of equity shares," the expression of interest, invited by the Department of Investment and Public Asset Management (Dipam), said.

The bids have to be put in by November 8. Hind Prefab's order book has grown at a CAGR (compounded annual growth rate) of 19.81 per cent between 2014-15 and 2016- 2017 to Rs 1,531.80 crore.

The company is working on several projects, and the value of work in progress stood at Rs 645.39 crore and value of work to be taken up stood at Rs 886.41 crore as on March 31 2017. New work received rose to Rs 719.21 crore in 2016-17 from Rs 418.89 crore in 2012-13.

The company's net worth stood at Rs 24.41 crore as on March 31, 2016. The commitments and contingent liabilities stood at Rs 16.11 crore and Rs 25.76 crore as of March 2016. The government has set a target to raise Rs 15,000 crore through strategic sales in PSUs this fiscal.