Arjun Dhawan Appointed Whole Time Director & Group CEO of HCC

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New Delhi, India

Hindustan Construction Company (HCC) today appointed Mr. Arjun Dhawan as the Whole Time Director & Group Chief Executive Officer w.e.f. 1st April, 2017, as Mr. Rajgopal Nogja decided to step down from the Group CEO’s post to pursue his own interests. Mr. Nogja shall continue in his present role till March 31, 2017. Mr. Nogja will, however, continue to be a Delegate of the Board of Steiner AG, Switzerland, a HCC Group Company on a 20% time commitment basis.

“Rajgopal’s leadership has made significant contribution to HCC’s success as the country’s premier infrastructure company during a difficult economic period. We understand and support his decision to step down and wish him well. Rajgopal will remain associated with the HCC Group by continuing to oversee Steiner AG, Switzerland,” said Mr. Ajit Gulabchand, Chairman and Managing Director, HCC.

Mr. Dhawan will oversee the HCC Group businesses including HCC Limited, HCC Concessions Limited, Lavasa Corporation Limited, Steiner India, Charosa Wineries Limited etc. Prior to being appointed to this position, Mr. Dhawan has been the President & CEO of the Infrastructure business since November, 2009.

The HCC Chairman said “Arjun is deeply familiar with the Company’s strategy and leadership team. HCC’s growing order backlog and the receipt of over Rs. 2000 crores of arbitration monies post the cabinet decision has poised HCC for success. We are confident the Company will grow and deliver robust performance under his stewardship.”

Mr. Dhawan holds an MBA from Harvard Business School and is a BA in Mathematics and Economics from Middlebury College. Prior to starting his career at HCC, Mr. Dhawan acquired global expertise in the area of investment management across various businesses and industries. As Managing Director with Arya Capital Management (Mumbai) and formerly with Trellus Management Company (New York), Mr. Dhawan oversaw material portfolios comprising equity investments and real estate assets. During an earlier stint with Banc of America Securities, he helped build a proprietary investment group focused on distressed strategic assets. As a former investment banker in New York with Donaldson, Lufkin & Jenrette and Credit Suisse First Boston, Mr. Dhawan has executed large leveraged buyout, high yield, M&A and equity transactions across multiple industries and geographies.

About HCC

HCC is a business group of global scale developing and building responsible infrastructure through next practices. With an engineering heritage of nearly 100 years, HCC has executed a majority of India’s landmark infrastructure projects, having constructed 25% of India’s Hydel Power generation and over 65% of India’s Nuclear Power generation capacities, over 3,800 lane km of Expressways and Highways, more than 320 km of complex Tunnelling and over 365 Bridges. Today, HCC Ltd. serves the infrastructure sectors of Transportation, Power and Water. HCC is also developing Lavasa City, a planned hill city and one of India’s largest urban development and management initiatives. The HCC Group, with a group turnover of Rs 8,768 crore, comprises of HCC Ltd, HCC Infrastructure Co. Ltd, Lavasa Corporation Ltd and Steiner AG in Switzerland