HCC for Q3FY16 had a 13% (YoY) rise in EBITDA at Rs.233 crore with margins showing a good improvement from 18.81% to 22.51% - the market decided to concentrate on this rather than the fact that its net profit for the quarter slipped 29% to Rs.19 crore. This again was can be attributable to the Rs.45.50 crore exceptional expense – which was ‘foreseeable loss’ which the company decided to provide for.

Net sales dropped 6% at Rs.1058 crore but what really helped recoup the EBITDA was the cut in expenses – down 9%. Other income of Rs.44 crore and forex gain of Rs.2 crore also helped. The company’s current Order backlog is at Rs. 16,290 crore, excluding L1 contracts worth Rs. 5,978 crore and orders bagged till date stands at Rs.3707 crore.

On the Lavasa front, the company stated that 1105 units are ready for possession and occupancy for Q3 FY2016 stood at 66%.