Hindustan Construction Company (HCC) has announced that it has received a substantial water infrastructure contract valued at ₹2,917.6 crore from the City and Industrial Development Corporation of Maharashtra (CIDCO). This announcement was made to stock exchanges on Friday. The project entails the construction of a 22.21 km raw water tunnel and a 250 MLD water treatment plant located in the Raigad district.
The contract has been awarded to the LCESPL-HCC Joint Venture, with HCC’s share of the project estimated at approximately ₹1,100 crore. The tunnel will be constructed using Tunnel Boring Machine (TBM) technology to transport water from the Kondhane Dam in Karjat to a new treatment facility at Village Mohope in Panvel.
In addition to construction tasks, the project encompasses design, supply, erection, testing, and commissioning of the water treatment plant. HCC is also tasked with a 15-year operational and maintenance commitment under a Design, Build and Operate (DBO) model, which is expected to contribute a long-term revenue stream.
CIDCO has emphasized that this project is essential to its long-term water supply strategy for the rapidly growing regions of Navi Mumbai and adjacent areas in Raigad.
As of 2:47 PM on Friday, HCC’s shares were trading at ₹19.89 on the NSE, reflecting a decline of 3.49 percent from the previous close of ₹20.61 amid significant sell-side pressure, with 76 percent of trading volume categorized as sales. Despite a 35 percent increase in shares over the past month, the stock remains approximately 13 percent lower on a year-on-year basis. The total trading value for the day reached ₹106 crore, with a market capitalization of around ₹5,210 crore.
Founded almost a century ago, HCC specializes in infrastructure construction across various sectors, including transportation, power, and water.
Published on April 24, 2026.
