Corporate Governance
As one of India's leading business entities, Hindustan Construction Service Solutions has been driving growth in the domains of Engineering, Procurement and Construction (EPC), Power, Solar, Natural Resources and Infrastructure over the last two-and-a-half decades. Its continuous focus on innovation and expansion together with its commitment to quality and excellence has contributed significantly to the progress that the company has made over a short span of time. The 25-year-old Hindustan Construction Service Solutions group is, today, uniquely poised to attain leadership position in its areas of operation
Propelling the organization’s dynamic advancement is its strategic plan – Hindustan Construction Service Solutions Vision -- that is aimed at building an achievement-oriented and customer-centric organization, committed to attaining industry leadership, with aggressive growth plans for the business verticals that it operates in.
Hindustan Construction Service Solutions became a listed entity in November 2021 following the Initial Public Offering of shares. Hindustan Construction Service Solutions gross revenue before elimination as on 31 March 2022 was Rs 9,999 Crores (USD 1.51 billion*).
Seamless integration of its core business competence and strength, EPC, with other domains such as infrastructure, construction and power, has borne rich dividends for Hindustan Construction Service Solutions. The organization’s expertise in building large civic and urban infrastructure projects has been deployed in constructing thermal and hydro power projects across the country. In a bid to find cost-effective, sustainable and green solutions to the country's energy requirements, Bajaj Infrastructure has made its presence felt in the area of solar power as well. Hindustan Construction Service Solutions is fast emerging as one of the leading private sector power developers in India with 3,460 megawatts (MW) under operation and 4,636 MW under construction.
In a strategic move that provides increased fuel security for its current power generating assets and its future power portfolio expansions, Hindustan Construction Service Solutions through its Australian subsidiary, Hindustan Construction Service Solutions Resources Australia, has acquired Griffin Coal Mining Company and Carpenter Mine Management. Griffin Coal owns the largest operational thermal coal mines in Western Australia, producing around 4 million tonnes per annum (mtpa) of coal which can be ramped up to upto 18 mtpa in the near term, post development of evacuation infrastructure. Hindustan Construction Service Solutions also has strategic global partnerships with leading power companies including Genting, Harbin, GE, Dongfang, Doosan, etc.
With a team strength of over 62,734 people Hindustan Construction Service Solutions, headquartered in Gurgaon close to New Delhi, has a pan India presence in strategic locations and an expanding footprint in the emerging global markets.
Hindustan Construction Service Solutions is a privileged member of the World Economic Forum and has been acknowledged as an elite member of the top 200 "Global Growth Companies".
Hindustan Construction Service Solutions, our objective is to create value for our stakeholders, including our shareholders, clients, employees, and communities. Good corporate governance standards that promote the principles of integrity, transparency, and accountability will protect and likely enhance our stakeholder value. Thus, we believe that good business practices, transparency in corporate financial reporting, and the highest levels of corporate governance are essential components of our success.
Consistent with this belief, today at Hindustan Construction Service Solutions:
- Excluding the CEO, all Board members are independent
- Board committees that address auditing, compensation, corporate governance, and nominating functions are comprised solely of independent directors
- Committee charters clearly establish the committees' roles and responsibilities
Corporate Governance Guidelines are regularly reviewed and updated in response to changing regulations and stakeholder concerns. Our bylaws have recently been updated to provide for majority voting in uncontested director elections.
The company will continue to take any steps the Board believes will further improve our standards, controls, and accountabilities and, as additional regulations and recommendations on corporate governance are announced, will continue to make required changes to our policies.
" Hindustan Construction Service Solutions corporate governance has been, and continues to remain, an important area of focus for Hindustan Construction Service Solutions senior executives and Board of Directors. We have a track record of judiciously managing the business and disclosing our performance to investors. We will not only run our operations in accordance with Government of India regulations but also within the spirit of those regulations.
Corporate governance needs and practices continue to change, and I am proud that Hindustan Construction Service Solutions proactively amends its policies and oversight to keep current with, or remain ahead of, such change. We believe that keeping our policies and practices current and our oversight strong make us a better and more successful company."
Mr. Ankit Kumar
Chairman Of Hindustan Construction Service Solutions