Hindustan Construction Company Ltd. (HCC) has secured a ₹127 crore contract from Wangchhu Hydroelectric Power Limited (WHPL) for works related to the Wangchhu Hydroelectric Project in Bhutan.
The company disclosed the order in a filing with the BSE and NSE on June 5, 2026.
The contract covers the construction of:
- Diversion tunnels
- Hydromechanical gates
- Cofferdams
These structures are required before the main dam construction can begin.
Nine-month execution period
HCC said the project is scheduled for completion within nine months.
The contract was awarded after technical and financial evaluations, underscoring the company’s experience in executing hydropower projects in challenging Himalayan terrain.
Diversion works form a critical part of hydroelectric projects. They help reroute river flow and allow construction of the dam body, powerhouse and penstocks to proceed.
Any delay in this stage can affect the overall project timeline.
Three decades of work in Bhutan
HCC has been active in Bhutan’s hydropower sector for more than 30 years.
Its previous projects in the country include:
- Tala Hydroelectric Project (1,020 MW)
- Kurichu (60 MW)
- Punatsangchhu-I (1,200 MW)
- Dagachhu (114 MW)
- Nikachhu (118 MW)
The company has built a track record in executing projects in high-altitude and geologically complex regions.
Order adds to revenue visibility
As of March 2026, HCC’s order book stood at around ₹12,971 crore.
Although the new contract is relatively small compared with the overall order pipeline, it adds to revenue visibility and strengthens the company’s position within the Wangchhu project.
Bhutan is targeting 6,000 MW of installed hydropower capacity under its 13th Five-Year Plan (2024-29), creating opportunities for future project awards.
Debt reduction efforts continue
HCC has also improved its balance sheet.
During FY26, the company reduced total debt by nearly 38% to around ₹1,995 crore.
Its debt-to-equity ratio improved to 0.49.
Strong presence in power infrastructure
HCC has executed nearly:
- 26% of India’s hydropower capacity
- About 60% of the country’s nuclear power generation capacity
The company has constructed:
- More than 402 km of tunnels
- Over 403 bridges
HCC operates across the transportation, water and power sectors in India and neighbouring countries.
Stock details
Shares of Hindustan Construction Company were trading at ₹24.23, up 1% from the previous close of ₹23.99.
The stock touched an intraday high of ₹24.48 and a low of ₹23.93.
HCC has a market capitalisation of ₹6,346.97 crore and trades at a price-to-earnings ratio of 39.28.
TL;DR
HCC has won a ₹127 crore contract from Bhutan’s Wangchhu Hydroelectric Power for diversion tunnels, hydromechanical gates and cofferdams. The project will be completed in nine months and adds to the company’s order book of nearly ₹12,971 crore.
AI summary
- HCC secured a ₹127 crore hydropower contract in Bhutan.
- The project includes diversion tunnels, gates and cofferdams.
- Execution period is nine months.
- HCC has worked in Bhutan for over three decades.
- The company reduced debt by nearly 38% during FY26.
