Hindustan Prefab Limited (A Government of India Enterprise)

The Union Cabinet has approved the financial restructuring of Hindustan Prefab Limited on 20th August, 2009. As a result, outstanding Government of India loan and interest thereon as on 31.03.2008 amounting to Rs.128 Crore has been converted into equity thereby increasing the authorized capital of HPL from the existing Rs.10 Crore to Rs.138 Crore.

HPL, which is a Central Public Sector Enterprise under the Ministry of Housing and Urban Poverty Alleviation, initially set up in 1950 as Hindustan Housing Factory (HHF), its now functioning as a service oriented company offering project management services in the construction of Economically Weaker Section (EWS) / Low Income Group (LIG) housing with infrastructure, Institutional Buildings etc in North Eastern States, border and tribal areas besides 14 other States in the Country. It has undertaken projects under JNNURM, NRHM etc. It is also expected that the Company, while continuing with its existing activities, will also be in a position to re-start prefab manufacturing on its own, without seeking any financial assistance from the government.

Shri Jaiveer Srivastavaa, Chairman & Managing Director has stated that the Company has now improved its performance and the turnover of the company which was Rs. 9.00 Crore (approx) in 2005-06 has been increased to Rs. 150.00 Crore (approx) in 2008-09 with profits. This financial restructuring will definitely enable HPL to be self-sustainable organization.

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